High inflation rates are shaping results on the hot drinks landscape in 2022, with double-digit current retail value growth, compared to low-level retail volume growth. Price-conscious behaviour has caused some consumers to either trade down or reduce their buying frequency.
The health and wellness trend continues to be reinforced across 2022, with consumers becoming increasingly concerned about the health risks associated with high fat, salt and sugar levels. The interest in health was bolstered by the outbreak of COVID-19 and has led to higher sales and innovation of sugarless or reduced sugar offerings.
Compañia de Galletas Noel SAS is set to lead the tea landscape in 2022 with Tosh, while Industria Colombiana de Café SA leads coffee with Colcafé, and Cía Nacional de Chocolates SA leads other hot drinks, offering Corona ahead of Nestlé de Colombia SA with Milo.
E-commerce is set to post strong sales growth in 2022, having seen a boost in sales during COVID-19, with consumers turning to the online channel during home seclusion and lockdowns. Although the country is returning to the new normal, a growing number of consumers have become accustomed to the ease and convenience of e-commerce, with retailers responding by improving their online presence and delivery systems.
The digital shift is one of the most significant changes unfolding in the retail channel, supporting strong growth. Despite this, foodservice is also performing well in 2022, with establishments increasingly implementing different strategies to respond to new consumer needs and habits.
Growth across the forecast period will be hampered by the adverse economic environment, with high inflation rates driving consumers to be more price-conscious. Due to the strong coffee culture in the country, coffee will continue to see moderate retail value growth over the forecast period; however, retail volume sales will struggle.
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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.
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This is the aggregation of Coffee, Tea, and Other Hot Drinks.See All of Our Definitions
This report originates from Passport, our Hot Drinks research and analysis database.
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