Serbia - Rum - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingSerbia: Rum Market 2024
Rum Market Size in Serbia
The Serbian rum market contracted to $X in 2023, declining by X% against the previous year. Over the period under review, consumption, however, saw a moderate expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.
Rum Production in Serbia
In value terms, rum production declined to $X in 2023 estimated in export price. Overall, production, however, recorded tangible growth. The growth pace was the most rapid in 2018 with an increase of X%. Rum production peaked at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.
Rum Exports
Exports from Serbia
In 2023, after two years of growth, there was significant decline in shipments abroad of rum, when their volume decreased by X% to X litres. In general, total exports indicated a notable expansion from 2012 to 2023: its volume 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 growth pace was the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of X litres, and then reduced sharply in the following year.
In value terms, rum exports stood at $X in 2023. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are expected to retain growth in the immediate term.
Exports by Country
Montenegro (X litres) was the main destination for rum exports from Serbia, accounting for a X% share of total exports. Moreover, rum exports to Montenegro exceeded the volume sent to the second major destination, Malta (X litres), sixfold. The Netherlands (X litres) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Montenegro was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malta (X% per year) and the Netherlands (X% per year).
In value terms, Montenegro ($X), Malta ($X) and the Netherlands ($X) constituted the largest markets for rum exported from Serbia worldwide, with a combined X% share of total exports. Greece, North Macedonia and Bosnia and Herzegovina lagged somewhat behind, together accounting for a further X%.
Greece, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the average rum export price amounted to $X per litre, picking up by X% against the previous year. In general, the export price showed a resilient increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per litre. From 2021 to 2023, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Malta ($X per litre), while the average price for exports to North Macedonia ($X per litre) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (X%), while the prices for the other major destinations experienced mixed trend patterns.
Rum Imports
Imports into Serbia
In 2023, overseas purchases of rum decreased by X% to X litres for the first time since 2020, thus ending a two-year rising trend. In general, imports continue to indicate a noticeable decline. The growth pace was the most rapid in 2022 with an increase of X%. As a result, imports reached the peak of X litres, and then contracted rapidly in the following year.
In value terms, rum imports declined sharply to $X in 2023. Overall, imports, however, saw a measured expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then shrank significantly in the following year.
Imports by Country
In 2023, the United States (X litres) constituted the largest rum supplier to Serbia, accounting for a X% share of total imports. Moreover, rum imports from the United States exceeded the figures recorded by the second-largest supplier, Slovenia (X litres), twofold. The third position in this ranking was held by the Dominican Republic (X litres), with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (X% per year) and the Dominican Republic (X% per year).
In value terms, the United States ($X), Venezuela ($X) and the Dominican Republic ($X) were the largest rum suppliers to Serbia, with a combined X% share of total imports. France, Slovenia, Lithuania, Barbados, the UK, Germany, Cuba, Italy and the Netherlands lagged somewhat behind, together accounting for a further X%.
Lithuania, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average rum import price stood at $X per litre in 2023, jumping by X% against the previous year. In general, the import price saw a remarkable increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked at $X per litre in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Venezuela ($X per litre), while the price for Germany ($X per litre) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Barbados (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the rum market in Serbia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 11011040 - Rum and other spirits obtained by distilling fermented sugarcane products (important: excluding alcohol duty)
Country coverage:
- Serbia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Serbia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
Recommended reports
This report provides an in-depth analysis of the rum market in Asia.
This report provides an in-depth analysis of the rum market in the U.S..
This report provides an in-depth analysis of the rum market in China.
This report provides an in-depth analysis of the rum market in the EU.
This report provides an in-depth analysis of the global rum market.