In this article, we are going to discuss the 20 highest quality rums in the world. You can skip our detailed analysis of the global rum market, the recent acquisition in the rum industry, and the rise of alcohol-free rum, and go directly to 5 Highest Quality Rums in the World.
Rum is arguably one of the earliest known spirits due to its simple production process. Its main ingredient, sugarcane, was first known to be fermented as early as 350 BC in India. The production of sugarcane increased over time as explorers discovered islands with the perfect growing climate.
Many of the best rums in the world are made in the Caribbean. 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 – 12 Countries that Produce the Best 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.
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%.
Recent Acquisition in the Rum Industry:
The growth of premium rum has been reflected in the merger and acquisition space in the past few years. It was announced last year that the Brown-Forman Corporation (NYSE:BF-B) has 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) added a Panama-based aging, bottling, and shipping production facility to the company. Destillers United Group S.L. will continue to produce and age the unique, carefully-crafted, and complex Diplomático Rum in their original distillery at the foot of the Andes mountains. Distributed in over 100 countries, Diplomático Rum is a super-premium rum brand from Venezuela.
The Brown-Forman Corporation (NYSE:BF-B) ranks among the 12 Best Alcohol Stocks to Own According to Hedge Funds.
The Rise of Alcohol-Free Rum:
The global low and no-alcohol consumer trend marks a significant shift in the drinks industry, driven by increasingly health-conscious consumers seeking alternatives to traditional alcoholic beverages. Millennials and Generation Z are the main insurgents, driving a transformation in choice and demanding more from their drinks. These younger generations are adopting a healthier lifestyle and reaping the benefits of going alcohol-free – but they’re not the only ones. From fitness fans and healthy lifestylers to a renaissance in older living, knowing what you’re putting into your body is now a key priority.
Several industry players have realized that the no-alcohol trend is here to stay and are coming up with innovative solutions to keep their current consumer base engaged, along with attracting a new generation of drinkers – and rum has been no exception.
Owned by Diageo plc (NYSE:DEO), the iconic Captain Morgan rum brand unveiled Captain Morgan Spiced Gold 0.0% in August 2023, an alcohol-free alternative to the famous Original Spiced Gold, offering a deliciously spiced flavor profile. Following the successful launch of Guinness 0.0%, Tanqueray 0.0%, and Gordons 0.0% over the past few years, Captain Morgan Spiced Gold 0.0% brings further choice to the market as the latest brand, and first dark spirit, to join Diageo plc (NYSE:DEO)’s alcohol-free portfolio. With 22.9 million cases sold worldwide in 2022, Captain Morgan is counted among the Most Popular Spirits in the World.
Initially launched in Great Britain in September last year, before a further roll out across Europe in 2024, Captain Morgan Spiced Gold 0.0% Alcohol Free Rum has an RRP of $18.99 in Great Britain.
Diageo plc (NYSE:DEO) ranked among the Largest Alcohol Companies in the World in 2023.
With that said, here are the Best Rums in 2024.
Methodology:
To collect data for this article, we referred to a number of sources, such as Liquor, VinePair, Men’s Journal, Reddit etc., looking for the Best Rum Brands in the World. To make sure we only give you the best of the best, we picked brands that appeared multiple times in the aforementioned sources, assigned them a score based on their number of appearances, and ranked them accordingly.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
20. Rhum Barbancourt
Insider Monkey Score: 5
Rhum Barbancourt is an especially fine rum, pot-stilled from fresh sugar cane juices to create a uniquely smooth taste to be enjoyed on the rocks, or with your favorite mixer.
Barbancourt is the most renowned rum out of Haiti, and perhaps also the most widely appreciated rum from the half-island by dint of being the most easily available, and affordable.
19. Ron Barceló
Insider Monkey Score: 6
Ron Barceló is the best Dominican rum and the most exported dark rum in the world, made from 100% sugar cane juice from the distillery’s own cane fields. Mostly owned by the Spanish spirits company Grupo Varma, Ron Barceló is a carbon neutral brand, certified in 2019 by the SGS Group for both the life cycle of their products and the organization.
18. The Real McCoy
Insider Monkey Score: 6
Named after the famed rum runner whose Prohibition spirit was renowned for its quality, The Real McCoy is a small batch single blended rum artisan crafted in copper stills and authentically aged 3, 5, or 12 years in American oak Bourbon barrels with no added sugar or flavor, and naturally gluten free. Constellation Brands acquired a minority stake in The Real McCoy rum brand in 2018.
The Real McCoy 3 Year Old Rum is counted among the Best Rums for a Refreshing Mojito.
17. Rhum J.M
Insider Monkey Score: 6
Located in the small northern village of Macouba, Martinique, at the base of iconic volcano Mt. Pelée, Rhum J.M produces the finest AOC Rhum Agricole from estate-grown sugarcane. Since 1845, Rhum J.M has been regarded as one of the Caribbean’s most prestigious rum brands, renowned by some of the finest cocktail bars in the world.
16. Havana Club
Insider Monkey Score: 7
In 1993, Pernod Ricard and The Cuba Ron SA Corporation created the joint venture Havana Club International S.A., to bring Havana Club to consumers around the world. Crafted in accordance with age-old tradition, this award-winning rum brand embodies the rich heritage and vibrant culture of Cuba.
15. Captain Morgan
Insider Monkey Score: 7
Captain Morgan’s spiced rum was the original but since then many offerings have been added to the brand, including white rum, cherry vanilla, silver spiced rum, and more.
Diageo plc got ownership of the Captain Morgan brand after its $8.15 billion joint acquisition of Seagram with France’s Pernod Ricard. The London-based company, which footed $5 billion of the bill, got the lion’s share of Seagram’s portfolio.
14. Bacardí
Insider Monkey Score: 7
Bacardí is perhaps the most iconic rum in the Americas and is credited with creating classic cocktails, such as the Cuba Libre (rum and Coca-Cola) and the daiquiri, a favorite of Ernest Hemingway. Known for its high quality and smooth taste, Bacardí rum is made with a special combination of molasses from sugarcane, yeast, and water. All in all, about 26% of spirit drinkers in the United States drink Bacardí. Founded in Cuba, Bacardi Limited is one of the largest family-owned spirits companies in the world.
With 6.828 million 9-liter cases sold in 2021, Bacardí is among the Most Popular Rum Brands in the U.S.
13. Chairman’s Reserve
Insider Monkey Score: 8
Hailing from the Roseau Valley of Saint Lucia. Chairman’s Reserve is one of the best blended rums in the world, known by rum enthusiasts as a ‘single blended’ rum as it is a blend of column and pot still rum from the same distillery.
Last year, Chairman’s Reserve received a new look to reflect its Caribbean heritage, with the brand also expanding into markets such as Greece, Italy, Poland, and Australia.
The Chairman’s Reserve St. Lucia Rum ranks among the Best Sipping Rums Under $50.
12. Sailor Jerry
Insider Monkey Score: 8
Fully owned by William Grant & Sons since 2008, Sailor Jerry spiced rum is blended with the finest rums from the Caribbean and a recipe of natural spices.
Owner of some of the Most Popular Scotch Whisky Brands in USA, William Grant & Sons boasts distilling and bottling operations in Scotland, Ireland, Iceland, India, the US, and Mexico, with a team of over 2,600 employees at 48 global locations.
11. Goslings Rum
Insider Monkey Score: 9
A family business for over 200 years, Goslings Rum is Bermuda’s largest export product and the only company that blends and bottles rum on the island. Although made from imported raw ingredients, all Gosling’s products count as Bermuda made.
10. Don Q
Insider Monkey Score: 9
Don Q, a multigenerational family rum brand, prides itself on its Puerto Rican roots. The label, produced by Destilería Serrallés since 1865, is popular as the oldest operating distillery in Puerto Rico, as well as the island’s best-selling rum. The brand has been available in the U.S. market since 2009.
At $1,899.99 per bottle on Total Wine & More, the Don Q Reserva della Familia Serralles 20 Year Old is an expensive quality rum, but definitely worth your money.
9. Ten To One
Insider Monkey Score: 10
Launched by entrepreneur and former Starbucks Senior Vice President Marc Farrell in the summer of 2019, Ten to One is a range of ultra-premium Caribbean rums designed to challenge expectations and change the way people taste, experience, and talk about rum.
It was announced last year that the black-owned spirit brand secured a $1 million investment from private equity firm InvestBev Group, marking yet another investment for Ten to one after it received a capital injection from Pronghorn in August 2022.
8. El Dorado
Insider Monkey Score: 11
Created on the banks of Demerara, the smooth and uniquely complex El Dorado aged rums represent over 300 years of Caribbean rum crafting. Run by Demerara distillers, the El Dorado brand has shown significant growth in recent years and is now an internationally recognised producer of award winning rums with a range of 20 different varieties.
El Dorado is placed among the Top 10 Rum Brands in the world.
7. The Kraken
Insider Monkey Score: 11
Created by Proximo Spirits in 2010, The Kraken is a blend of Caribbean rums that should certainly suit any fans of rich, navy-style rum.
Named after the Caribbean sea beast of myth and legend, The Kraken is distilled in Trinidad and Tobago where it is blended with 13 secret spices to create a strong, rich, black, and smooth rum.
6. Flor de Caña
Insider Monkey Score: 14
A family business for five generations, Flor de Caña is one of Nicaragua’s most prestigious rums, and has won a huge number of awards, medals, and commendations in the last few years. Almost two decades go into the production of this spirit, and the tradition and artisanal excellence behind it can be appreciated in every drop.
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Disclosure: None. 20 Highest Quality Rums in the World is originally published on Insider Monkey.