15 Best Rums Under $40

Sultan Khalid
10 min read

In This Article:

In this article, we are going to discuss the 15 best rums under $40. You can skip our detailed analysis of the global rum market, the premiumization in the rum category, and the recent acquisitions in the rum industry, and go directly to 5 Best Rums Under $40. 

The Caribbean islands are famous for producing many of the best rums in the world. Sugarcane was introduced to that part of the globe in the late 1400s by Europeans, and it quickly took root. Colonialists started sugar plantations that used forced labor by enslaved people from Africa, and from these plantations came rum. The spirit’s popularity quickly spread to Colonial North America. It is estimated that prior to the American Revolutionary War, the men and women of the American colonies were drinking an average of three imperial gallons of rum each year. 

Global Rum Market: 

As we mentioned in our article – 20 Highest Quality Rums 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. 

Premiumization in the Rum Category: 

Rum has long been considered a spirit dedicated to tropical drinks, but in the last few years, consumer perception of the liquor has evolved dramatically. While the category is still dominated by major producers, consumer preferences are shifting away from value options and towards an appreciation for craft and aged rums. Due to the growing influence of aged and high-quality expressions, many consumers now see the spirit as a premium offering that can be sipped and appreciated in much the same way as rare whiskies and tequilas. 

As with other spirits categories, premiumization in rum means finer quality ingredients and more creative barrel finishes, giving consumers a wider range of innovative flavors to explore through. While the global rum market is experiencing a period of slow growth, the premium rum category is growing at a CAGR of more than 24%.

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