Hot drinks in 2024: The big picture
In 2024, the Colombian economy was forecast to grow by 1.9%, according to International Monetary Fund estimations.
2024 key trends
Despite many households having budget constraints, the hot drinks market in Colombia witnessed a rise in premium products during 2024. The premium segment was particularly evident in coffee, which saw a rising demand for fresh coffee beans that offer new tastes and quality experiences.
Competitive landscape
Industria Colombiana de Café SA (Colcafé) remained the leading player in 2024 with 34% retail value share of the hot drinks category. Industria Colombiana de Café SA retains its leadership supported by innovation, a longstanding presence in the country, and offering brands that are top-of-mind for consumers, including Café Sello Rojo, Colcafé and Café La Bastilla.
Retailing developments
Small local grocers remained the primary distribution channel for hot drinks in Colombia in 2024, despite losing market share to discounters. The expansion of discounters has allowed them to capture a significant portion of sales, thanks to their competitive pricing strategies.
Foodservice vs retail split
Sales of hot drinks through consumer foodservice recorded slight volume growth in 2024, driven by expanding consumption occasions, including breakfast. The morning and breakfast have become an important time for business meetings, remote work, and socialising, bolstering sales for the food service industry.
What next for hot drinks?
Challenges in the political and economic landscape are likely to persist across the forecast period, creating uncertainty around key macroeconomic indicators. However, the hot drinks market is expected to experience modest growth in retail volume sales in the coming years.
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Overview:
Understand the latest market trends and future growth opportunities for the Hot Drinks industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Coffee
- Tea
- Other Hot Drinks
If you're in the Hot Drinks industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Hot Drinks in Colombia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Hot Drinks in Colombia?
- To what extent are health considerations impacting consumption of Hot Drinks in Colombia?
- What are the traditional preferences in Hot Drinks in Colombia? To what extent are these tastes changing amidst increasing international influence and the growth of chained cafés?
- How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Hot Drinks in Colombia?
- Which are the leading brands in Hot Drinks in Colombia?
- How are products distributed in Hot Drinks in Colombia?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Hot Drinks?
- Where is future growth expected to be most dynamic?
Hot Drinks in Colombia
Hot drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
Foodservice vs retail split
What next for hot drinks?
DISCLAIMER
Coffee in Colombia
KEY DATA FINDINGS
Retail volume sales display a slight decline as high prices impact buying habits
Private label launch new options within the premium instant coffee category
Small local grocers face rising challenges from competitive discounter stores
Cold preparations will expand the use of coffee and boost retail volume growth
The interest in speciality coffee and flavours is set to drive growth for premium coffee options
Private label is expected to strengthen as discounters continue to gain footfall
Tea in Colombia
KEY DATA FINDINGS
Health benefits and functional properties drive demand for fruit/herbal tea
Price wars between retailers as stores launch low-cost private label tea
Ongoing innovation supports the leadership of Agricola Himalaya in the tea category
Functionality and versatility are set to drive sales of tea across the forecast period
Polarisation is expected to strengthen as private label and premium options gain pace
Some brands will bring focus to tea drinking rituals and experiences
Other Hot Drinks in Colombia
KEY DATA FINDINGS
Soaring prices impact demand as retail volume records a double-digit decline
Small local grocers focus on smaller presentations to appeal to consumers and gain a competitive edge
Premium products emerge, however, standard products retain the lead
Private label options will likely keep growing as prices of other hot drinks continue to rise
Demographic changes will offer an opportunity for ongoing innovation
Other plant-based hot drinks are not yet anticipated to drive innovation or growth
The following categories and subcategories are included:
Hot Drinks
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- Fresh Coffee Beans
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- Fresh Ground Coffee Pods
- Standard Fresh Ground Coffee
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- Instant Standard Coffee
- Instant Coffee Mixes
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- Loose Black Tea
- Tea Bags Black
- Fruit/Herbal Tea
- Green Tea
- Instant Tea
- Other Tea
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- Chocolate-based Flavoured Powder Drinks
- Malt-based Hot Drinks
- Non-Chocolate-based Flavoured Powder Drinks
- Other Plant-based Hot Drinks
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Why buy this report?
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- Track key industry trends, opportunities and threats
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This report originates from Passport, our Hot Drinks research and analysis database.
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