The global spiced rum market size is expected to reach $9.39 billion by 2027, expanding at a CAGR of 4.3% over the forecast period, according to a new report by Grand View Research, Inc. Shifting consumer tastes toward flavored alcoholic beverages is fueling the global growth of the market. Additionally, escalating cocktail culture has widened the growth opportunity for spiced/flavored rum worldwide. As a result, manufacturers have been introducing new products to cater to the growing demand. Europe is expected to expand at the fastest CAGR of 5% from 2020 to 2027, owing to growing demand for the premium alcoholic beverages in countries such as Germany, the U.K. and France.