PROSPECTS AND OPPORTUNITIES
Low-priced wines expected to drive sales, amid an uncertain outlook
Wine sales will maintain a positive pattern over the forecast period, albeit at conservative levels. The economic outlook is not overly optimistic, at least in the short term, and will continue to be influenced by political decisions and a dogged government that insists on tax and labour reforms that will continue to have a significant impact on the employment and operation costs of the different economic sectors, by increasing the burden to companies.
Old world low-priced wines expected to increase their presence
In the past two years, wine culture in Colombia has stepped back. Previously, there was a growing interest among consumers who were becoming more knowledgeable and eager to explore different wines.
Lighter, softer and sweeter wines expecetd to gain relevance due to the changing preferences of consumers
Innovation in wine is more likely to stem from imported products. In Colombia, younger generations are increasingly interested in learning about wine, its origins, and its production characteristics, making them an appealing target for the development of new wines.
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Overview:
Understand the latest market trends and future growth opportunities for the Wine 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.
If you're in the Wine 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 Wine 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 Wine in Colombia?
- Where is consumer demand for Wine focussed?
- Which is being consumed more; beer, wine or spirits?
- Where is demand growing? Stagnating?
- How is the operating environment for alcoholic drinks changing?
- Which are the leading brands in Colombia?
- How are products distributed in Colombia?
- What are the key trends in new product development?
- Do consumers want value for money or added value?
- How will macroeconomic context and shifting cultural values shape future growth?
- How will COVID-19 and recession impact the alcoholic drinks industry?
- Where is future growth expected to be most dynamic?
Wine in Colombia - Category analysis
KEY DATA FINDINGS
Recovery in sales of wine driven by low-priced brands
Innovations focus on different ways of consumption
Retailers capitalise on the drop in sales in the on-trade channel
Low-priced wines expected to drive sales, amid an uncertain outlook
Old world low-priced wines expected to increase their presence
Lighter, softer and sweeter wines expecetd to gain relevance due to the changing preferences of consumers
Alcoholic Drinks in Colombia - Industry Overview
Alcoholic drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
On-trade vs off-trade split
What next for alcoholic drinks?
Legislation
Legal purchasing age and legal drinking age
Drink driving
Advertising
Smoking ban
Opening hours
On-trade establishments
TAXATION AND DUTY LEVIES
Contraband/parallel trade
Duty free
Cross-border/private imports
Outlook
DISCLAIMER
The following categories and subcategories are included:
Wine
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- Port
- Sherry
- Vermouth
- Other Fortified Wine
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- Apple Wine
- Bokbunjaju
- Cheongju
- Chinese Wine
- Economy Rice Wine
- Fortified Fruit Wine
- Fruit and Berry Wine
- Fruit and Herbal Wine
- Fruit and Honey based Wine
- Fruit Wine
- Lower Mid-Range Rice Wine
- Non-Grape Dessert Wine
- Premium Rice Wine
- Sake
- Takju
- Upper Mid-Range Rice Wine
- Yakju
- Yellow Wine
- Other Non-Grape Wine
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- Champagne
- Other Sparkling Wine
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- Still Red Wine
- Still Rosé Wine
- Still White Wine
- Non Alcoholic Wine
Wine
This is the aggregation of still and sparkling light grape wines, fortified wine and vermouth and non-grape wine. In terms of alcohol content, light wine usually falls into the 8-14% ABV bracket while fortified wine ranges from 14-23% ABV. Low and non-alcoholic wine is also included in the data (attributed to each sector as appropriate).
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders.
- Track key industry trends, opportunities and threats.
- Inform your marketing, brand, strategy and market development, sales and supply functions.
This report originates from Passport, our Wine research and analysis database.
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