Despite the solid performance of beer in 2022, in the last few months of the year some consumers began to feel the effects of the rising costs of living. Consumers in lower income groups have had to focus on essential foods and reduce consumption of beer.
After a strong recovery of the on-trade channel in 2021 and 2022, the outlook for 2023 is not as promising. Volume growth will slow as consumers face more restricted budgets and cut back on leisure activities out of the home, such as visiting restaurants or hanging out with friends at bars.
Bavaria SA is anticipated to strengthen its position in the value segment through the growth of brands like Costeña Bacana, which has been rapidly gaining volume share. With the cost of living crisis expected to continue, price will remain the main driver of purchasing behaviour.
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Understand the latest market trends and future growth opportunities for the Beer 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 Beer 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
Beer
An alcoholic drink usually brewed from malt, sugar, hops and water and fermented with yeast. Some beers are made by fermenting a cereal, especially barley, and therefore not flavoured by hops. Alcohol content for beer is varied – anything up to and over 14% ABV (alcohol by volume), although 3.5% to 5% is most common. Beer is the aggregation of lager, dark beer, stout and non/low alcohol beer.
See All of Our DefinitionsThis report originates from Passport, our Beer research and analysis database.
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