Scandinavia: Rum Market 2024

Rum Market Size in Scandinavia

The Scandinavia rum market declined to $X in 2023, dropping by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Rum Production in Scandinavia

In value terms, rum production rose markedly to $X in 2023 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Rum Exports

Exports in Scandinavia

After two years of growth, shipments abroad of rum decreased by X% to X litres in 2023. In general, exports recorded a pronounced slump. The pace of growth appeared the most rapid in 2022 with an increase of X%. The volume of export peaked at X litres in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, rum exports rose markedly to $X in 2023. Total exports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are likely to continue growth in the near future.

Exports by Country

Sweden (X litres) and Norway (X litres) were the key exporters of rum in 2023, finishing at approx. X% and X% of total exports, respectively. It was distantly followed by Finland (X litres), achieving a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Norway (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Sweden ($X) remains the largest rum supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was taken by Finland ($X), with a X% share of total exports.

In Sweden, rum exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (X% per year) and Norway (X% per year).

Export Prices by Country

In 2023, the export price in Scandinavia amounted to $X per litre, increasing by X% against the previous year. Overall, the export price saw a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per litre in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Sweden ($X per litre), while Norway ($X per litre) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced more modest paces of growth.

Rum Imports

Imports in Scandinavia

In 2023, imports of rum in Scandinavia contracted to X litres, which is down by X% against 2022. In general, imports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X litres. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, rum imports contracted modestly to $X in 2023. Total imports indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then dropped modestly in the following year.

Imports by Country

In 2023, Sweden (X litres) and Norway (X litres) were the major importers of rum in Scandinavia, together accounting for approx. X% of total imports. It was distantly followed by Finland (X litres), creating a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Norway (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Sweden ($X) constitutes the largest market for imported rum in Scandinavia, comprising X% of total imports. The second position in the ranking was held by Finland ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Sweden amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Finland (X% per year) and Norway (X% per year).

Import Prices by Country

In 2023, the import price in Scandinavia amounted to $X per litre, surging by X% against the previous year. Over the period under review, the import price continues to indicate a remarkable increase. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($X per litre), while Norway ($X per litre) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform