In this article, we are going to discuss the no. 1 rum for beginners in 2024. If you want more options to take your first steps into the alluring world of rum, check out our full list of the 15 Best Rums for Beginners in 2024.

As we mentioned in our article – The Best Rum in 2024 – the global rum market was estimated at $17.4 billion in 2023 and is expected to reach $24.5 billion by 2033, with a CAGR of 3.5% during the forecast period.

Rum is building momentum and getting more popular in the U.S.A. Today, the category is one of the most steadily growing and continues to benefit from several intersecting popularity shifts. In recent years, distillers have experimented with flavored rums, making the category much more versatile in offerings, and so today, flavored and spiced offerings account for over 57% of all rums sold.

The growth of premium rum has also been reflected in the merger and acquisition space recently. It was announced last year that Brown-Forman Corporation had completed the acquisition of the Diplomático Rum brand and related assets from Destillers United Group S.L. (Spain), for an estimated $725 million. The spirits giant announced its agreement to purchase the brand in October 2022, giving it an entry into the growing super-premium rum category.

As part of the acquisition, Brown-Forman Corporation (NYSE:BF-B) expanded its operations by acquiring a Panama-based aging, bottling, and shipping production facility. Destillers United Group S.L. will maintain the production and aging of the uniquely crafted and complex Diplomático Rum at their original distillery located at the base of the Andes mountains.

At the close of Q1 2024, Brown-Forman Corporation (NYSE:BF-B) witnessed shares being held by 30 hedge funds. Fundsmith LLP emerged as the largest shareholder, possessing approximately 11.46 shares with a market value of $591.5 million.

Another prominent player in the rum market, Diageo plc (NYSE:DEo), also made headlines by completing the acquisition of the Don Papa Rum brand in 2023. The agreement included an initial payment of $276 million with an additional performance-based consideration up to $188.6 million projected through to 2028. Don Papa Small Batch Rum, a high-end dark rum from the Philippines, is currently available in over 30 nations worldwide.

Moreover, Diageo plc (NYSE:DEO) has been in the news for its innovative approach towards sustainable packaging, collaborating with PA Consulting and PulPac. They plan to trial a paper bottle for the Irish Cream Liqueur Baileys, primarily composed of mold dry fiber making up 90% of the material, supplemented with a thin plastic liner and a foil seal. Simultaneously, the company is also experimenting with a unique spiral-wound paper-based bottle for its Don o’Papa rum, currently undergoing feasibility tests and expected to comprise 90% paper-based material.

The stock of DEO was also held by 30 hedge funds at the end of Q1 2024 according to the Insider Monkey database, with a total stake value of approximately $634.21 million. Orbis Investment Management held the largest stake, with about 1.54 million shares worth $229.2 million.

Both Brown-Forman Corporation (NYSE:BF-B) and Diageo plc (NYSE:DEO) are listed among the Most Valuable Alcohol Companies in the World.

With that in mind, here are the Best Rums to Try for Your First Time.

For this article, we consulted several sources, including RumX, Master of Malt, Tasting Table, Reddit, and others to discover the Best Rums for Beginners. We identified the most frequently recommended rums across these platforms, assigning each a score for every recommendation, then added up the scores to rank the rums. In cases where multiple rums earned the same score, they were further ranked by the price of their 750 ml bottles before tax.</onds, and others to discover theBest Rums for Beginners. We identified the most frequently recommended rums across these platforms, assigning each a score for every recommendation, then added up the scores to rank the rums. In cases where multiple rums earned the same score, they were further ranked by the price of their 750 ml bottles before tax.

Insider Monkey Score: 16

A true expression of Master Blender Joy Spence’s passion, this single estate spirit is made from hand-selected, rare golden rums aged for a minimum of 12 years in the tropical climate of Jamaica. Smooth, robust, and woody – this superb blend reveals aromas of toasted oak, dried fruit, hazelnut, dark cocoa, molasses, orange peel, vanilla, and hints of coffee. Perfect for sipping or mixing into extraordinary cocktails, AE 12 Rare Casks is bottled at 43% ABV.

Appleton Estate, the oldest sugar estate and distillery in Jamaica, produces over 10 million liters of rum annually, 80% of which is destined to be exported.

To learn about other entry-level rums, you can refer to our list of the 15 Best Rums for Beginners in 2024.

At Insider Monkey, we explore various subjects from top rums to business insights; but our forte is pinpointing high-performing stocks. Presently, one of the most exciting areas is Artificial Intelligence (AI). For an AI stock that has more potential than NVDA and trades for less than five times its earnings, view our analysis on the cheapest AI stock.

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