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In this article, we are going to discuss the best rum in 2024. If you’re up for the challenge, check out the other top rums in our list of the 20 Best Rums in 2024.

As we mentioned in our article – 20 Countries that Export the Most Rum in the World – 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 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.

This highly mixable spirit also provides a key function in cocktail culture. While rum is a staple of on-premise tiki bars, it is also one of the only spirits for which it’s common to blend multiple varieties in the same cocktail. According to Bacardi’s 2022 Cocktail Trends Report, four of the top-10 best-selling cocktails are rum drinks, making the spirit a must-have for all on-premise programs.

Rum has traditionally been associated with tropical cocktails, but recent years have seen a shift in how it’s perceived. Despite the rum industry still being largely controlled by big-name producers, consumers are showing a growing preference for craft and aged rums over standard, low-cost options. This change of preference, along with the increasing popularity of quality, aged rums, has led to the drink being considered a high-end option, suitable for savoring much like top-tier whiskies and tequilas.

In the world of rum, as with other spirits, premiumization typically involves the use of superior ingredients and inventive finishing touches in barrels. This offers consumers an extensive and exciting lineup of novel flavors to enjoy. Although the global rum market shows only gradual growth, the premium rum segment is growing rapidly with a compound annual growth rate exceeding 24%.

A global trend towards low and non-alcohol drinks is causing profound changes in the beverage industry. This shift is fueled mainly by health-conscious consumers desiring alternatives to traditional alcoholic beverages. Millennials and Generation Z are leading this charge, demanding more diversity in their drink choices and embracing a healthier way of life. This wellness-oriented approach is not limited to the younger generations, as individuals across various life stages place increasing importance on mindful consumption.

Several industry leaders have acknowledged the staying power of this trend towards non-alcoholic drinks and have undertaken innovative initiatives to retain current customers while drawing in a new, younger demographic. And rum has certainly not been left out of this transformation.

Owned by Diageo plc (NYSE:DEO), the renowned Captain Morgan rum brand introduced Captain Morgan Spiced Gold 0.0% in August 2023, a non-alcoholic variant of the celebrated Original Spiced Gold, providing a delectably spiced taste profile. In the wake of the triumphant releases of Guinness 0.0%, Tanqueray 0.0%, and Gordons 0.0% in recent years, Captain Morgan Spiced Gold 0.0% brings additional options to the market as the newest brand, and first dark spirit, to join Diageo plc (NYSE:DEO)’s alcohol-free range. Captain Morgan’s sales reached 22.9 million cases globally in 2022, making it the 17th Most Popular Spirit in the World.

The initial launch of Captain Morgan Spiced Gold 0.0% Alcohol Free Rum took place in Great Britain in September of the preceding year, before further distribution throughout Europe in 2024. The retail price of Captain Morgan Spiced Gold 0.0% Alcohol Free Rum is less than $20 in Great Britain.

Diageo plc (NYSE:DEO) holds the 4th position among the Most Valuable Alcohol Companies in the World.

For the compilation of data in this article, we referred to several reputable sources such as Liquor, VinePair, Men’s Journal, Reddit etc., in pursuit of the Top Rums to Buy in 2024. To ensure the recommendations are of the highest quality, we made a shortlist of rums that were prominently featured on these websites, and assigned them a point each time they were endorsed by these sources. The total scores were then summed up and our list was ranked accordingly. In instances where two or more rums garnered the same score, we ranked them based on the price (excluding tax) of their 750 ml bottles.

Insider Monkey Score: 15

Ranked as the Number 1 Rum according to our methodology, this single estate spirit originates from a careful selection of rare golden rums. Each one has been aged for at least 12 years in Jamaica’s tropical climate. This refined rum presents a smooth, robust, and woody profile, boasting hints of toasted oak, dried fruit, and hazelnut.

In December 2012, Appleton, along with the Wray & Nephew and Coruba Rum brands, became part of Gruppo Campari’s portfolio. This acquisition was part of the Italian corporation’s purchase of the Jamaican company Lascelles deMercado & Co, costing close to $415 million. At present, the Appleton Estate 12 Year Old Rare Casks Rum holds the top spot in our Best Rums in 2024 list.

For those interested in learning about the other rums that made the cut, please click here.

Disclosure: None. This article is originally published on Insider Monkey.