While volume sales growth in overall hot drinks remains quite low in 2023, there have been some notable shifts between the off-trade and on-trade. Overall volume sales in foodservice are strong in 2023, supported by the coffee culture, with affluent consumers proving particularly fond of the on-trade coffee experience which has surpassed pre-pandemic levels in terms of volume in 2023.
Coffee has continued to witness retail demand even with eroded purchasing power among consumers. Inflation has closed the gap in terms of unit prices between value and premium coffee – fresh and instant, benefiting the premium segment to outpace private label.
The competitive landscape of coffee is intensifying with premium brands making their mark. Nonetheless, more standard brands like Hatsu and Bary were launched during the year and distributed by Postobon SA leveraging its strong distribution network.
The pandemic significantly accelerated the growth of e-commerce as a distribution channel for hot drinks. Consumers are increasingly comfortable doing their grocery shopping online, prompting both retailers and manufacturers to pay more attention to this channel.
Inflation and substantial price increases are impacting consumer spending habits, particularly concerning hot drinks. Coffee, in particular, is affected by these developments, experiencing a slowdown in on-trade consumption.
Retail volume sales of hot drinks are projected to experience a slight decline over the forecast period, especially within the first year. This trend is attributed to persisting inflationary pressures in the short-to-medium term, with price-based promotions expected to remain a significant driver of retail volume sales.
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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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