The recovery of spirits at the on-trade level surpassed expectations in 2021, with triple-digit volume growth more than compensating for the double-digit decline recorded the previous year. This dramatic turnaround reflected a strong desire for indulgence and revelry among Colombians, many of whom were keen to make up for lost time by frequently visiting bars, nightclubs and similar establishments as pandemic-related restrictions were eased and fear of COVID-19 receded with the progression of the national vaccination programme.
Rum and other spirits – which is dominated by aguardiente – remained the largest of the main spirits categories in Colombia in total volume sales terms in 2021. Both posted strong growth at the off- and on-trade levels thanks to traditional consumption habits and the enduring popularity of economy and mid-priced brands from domestic producers, with aguardiente registering the best all-round performance of any category.
Industria Licorera de Caldas remained the clear leader in spirits in total volume sales terms in 2021, followed by Fábrica de Licores y Alcoholes de Antioquia. These domestic producers – which owe their overall positions to their strength in rum and aguardiente – showed markedly improved performances in comparison to 2020 as overall demand rebounded in line with the easing of the pandemic.
Imported spirits look set to continue gaining popularity at the expense of more traditional locally produced varieties in Colombia over the forecast period. Growing consumer exposure to different product types via advertising campaigns – particularly on social media platforms – and foreign travel will fuel this trend, as will new launches, improvements in the distribution of various international brands and the further development of the country’s cocktail culture.
Average unit prices are expected to increase substantially across spirits during the early part of the forecast period due to inflationary pressures arising from the global recovery from the pandemic and the wider fallout of Russia’s invasion of Ukraine. Given that rising inflation will also drive up the general cost of living and with many Colombian households still feeling the negative economic effects of COVID-19, heightened budget-consciousness is likely to constrain overall volume growth potential.
Demand for craft spirits in Colombia is still negligible, but there have been some notable recent developments in this area. For example, 2021 saw the launch of Aguardiente Artesanal Desquite, which is made by an independent distillery, while awareness of traditional spirits from the Pacific region – such as viche, tumbacatre and tomaseca – produced by Herencia Guapireña is on the rise thanks to strong promotional support on social media platforms like Instagram and Facebook.
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Understand the latest market trends and future growth opportunities for the Spirits 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 Spirits 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
This is the aggregation of whisk(e)y, brandy and Cognac, white spirits, rum, tequila, liqueurs and other spirits.See All of Our Definitions
This report originates from Passport, our Spirits research and analysis database.
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