With
forecasts volume sales gains of 0.7% for 2016, values are actually likely to show
a decrease of 0.1%. For distillers and
marketers that are trying build the category’s value, the data does point out
an improving picture. There are value
gains, though low do indicate that the category is moving in the right
direction. Predicted growth for 2017 is expected
to be at 0.4%, compared with 0.9% in value terms.
Consumers
have a taste for rum, but they there seems to be a lack of those willing to pay
for the super – premium expressions. The producers are non the less wooing a small
but growing pocket in the market that buys these spirits. . “The rum category, in particular the
super-premium sector, has seen strong growth,” Carl Stephenson, founder of
Elements Eight rum, said, as the company unveiled a higher-end redesign in
July. “In 2016, we saw the acceleration of the
upward trend for premium and super premium rums, super-premium innovations like
single casks and single vintages are showing a lot of interest.
There
has been a lot of interest in the agricole style of rhum that goes along with
the interest in the higher end rums. Trois Rivières , Saint James, Clement and
Damoiseau all have high quality expressions that more and more people are
showing interest in.
2017 should be interesting to follow, especially if the groups that are
not only pushing for a premiumization, but for honesty about what is being
added to the rum. The French sets of
rules for agricole are a good guideline for the rest of the industry, but those
like Richard Seale and Luca Gargano, who are trying to
add credibility of the category. This
will help educate the customers to understand what they are buying as they do
in other spirits categories. All in all,
I feel this is going to be a good year for rum, I feel like the slide in sales
over the past few year will be turned around.
