Rum market in Spain

Earlier Report Observations

The Spanish rum market showed growing popularity before the pandemic, with rum gaining traction in cocktail culture, particularly within the Latin American community and the HoReCa channel. A shift of young consumers from gin to rum and increasing demand for premium and super‑premium brands supported market value. However, the COVID‑19 pandemic severely impacted the market in 2020, as closures in leisure and hospitality—a key consumption channel—caused the market size to drop sharply to $86.1 million.

Recovery began in 2021 with the reopening of bars and restaurants and the return of tourism, lifting the market to $133.1 million. The rebound accelerated in 2022, reaching $167.6 million, driven by flavor innovations and limited editions from major brands like Diageo and Bacardi, alongside a strong consumer trend toward aged and premium rums. After a contraction in 2023, the market grew again in 2024 to $146.3 million, supported by global shifts toward premiumization and sustainability, as well as expanded distribution through online and specialty retailers.

Production rum in Spain

In value, 2017-2020, K $ US

Spain's rum production value declined after two years of growth. In 2019, output reached its peak at 80 438 K $ US, but then fell by 17.6% year-over-year to 66 315 K $ US in 2020. Over the 2017-2020 period, production decreased by 9.7%, with an annualized decline of 3.4%. The largest increase occurred in 2018, when production rose by 6.2%.

Annual dynamics of production in Spain in value, 2017-2020, K $ US

In kind, 2017-2020, K l

Spain produced 22 241 K l of rum in 2020, representing an 8.8% decrease compared to 2019. Between 2017 and 2020, production fell by 9.4%, which translates to an annualized decline of 3.2%. The largest increase was recorded in 2019, when production grew by 2.8%.

Annual dynamics of production in Spain in kind, 2017-2020, K l

Exports rum from Spain

Exports in kind, K l

In 2020, Spain exported 16 374 K l of rum, showing a significant drop of 13.9% from the previous year. The minimum export volume was recorded in 2018 at 14 928 K l, while the maximum occurred in 2019 at 19 024 K l. Over the 2017-2020 period, exports increased by 4.7%, with an annualized growth rate of 1.5%. The largest increase was in 2019, when exports surged by 27.4%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, K l

From 2017 to 2020, Germany, France, and Italy were the top buyers of Spanish rum by volume. Germany accounted for 38.5% of exports, France for 7.8%, and Italy for 5.7%. Together, these three countries represented 52.1% of Spain's total rum exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, M $ US

Spain's rum export value totaled 89.1 M $ US in 2020, marking a moderate decrease of 4.5% compared to 2019. The minimum value was recorded in 2018 at 81.1 M $ US, while the maximum occurred in 2019 at 93.3 M $ US. The largest decline was in 2018, when exports fell by 8.5%, and the largest increase was in 2019, with a 15.1% rise.

Annual dynamics of product's exports from Spain in value, 2017-2020, M $ US

Between 2017 and 2020, Germany, France, and Italy were the leading buyers of Spanish rum by value. Germany represented 37.3% of exports, France 8.7%, and Italy 5.6%. Combined, these three countries accounted for 51.5% of Spain's total rum export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports rum to Spain

Imports in kind, K l

After two years of growth, Spain's rum imports in kind declined. In 2019, imports peaked at 32 200 K l, but then dropped sharply by 44.7% year-over-year to 17 793 K l in 2020. Over the 2017-2020 period, imports decreased by 28.2%, with an annualized decline of 10.5%. The largest increase was in 2019, when imports rose by 20.5%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, K l

From 2017 to 2020, the Dominican Republic, Cuba, and the Netherlands were the main sources of rum imports to Spain by volume. The Dominican Republic accounted for 31.3% of imports, Cuba for 29.9%, and the Netherlands for 12.6%. Together, these three countries made up 73.8% of Spain's total rum imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, M $ US

Spain's rum import value declined for the third consecutive year. In 2020, imports totaled 108.9 M $ US, down by 32.7% from 2019. Over the 2017-2020 period, imports decreased by 36.5%, with an annualized decline of 14.1%.

Annual dynamics of product's imports to Spain in value, 2017-2020, M $ US

Between 2017 and 2020, the Dominican Republic, Cuba, and the Netherlands continued to be the top suppliers of rum to Spain by value. The Dominican Republic represented 30.6% of imports, Cuba 24.1%, and the Netherlands 15.3%. Jointly, these three countries accounted for 69.9% of Spain's total rum import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020