Executive Summary

Nov 2019
PROSPECTS
Consumption culture and stable prices maintain demand for jams and preserves

Sweet spreads remains a popular category in the country, with jams and preserves often consumed at breakfast or in the afternoon with bread or crackers. This established consumption culture is helping jams and preserves to post strong retail volume and current value growth in 2019.

Honey fails to reach full potential due to high prices and large informal market

With health and wellness concerns increasing and rising interest in more natural products, honey has the potential for strong growth in the forecast period. Honey’s main potential resides in its positioning as a healthy and natural sweetener at a time when sugar content is being widely scrutinised in packaged food.

Lower prices push fast rise in volume sales for chocolate spreads

Chocolate spreads is seeing very fast retail volume growth in 2019, supported by a strong decline in the average retail current unit price. The offer of chocolate spreads is increasing rapidly, mainly as discounters offer very competitive prices: around 50% lower compared with the leading brands Nutella and Nucita.

COMPETITIVE LANDSCAPE
Nutella continues to lose ground to much cheaper private label chocolate spreads

Ferrero Rocher del Ecuador (Nutella) continues to lose significant retail value share in chocolate spreads and sweet spreads overall in 2019. Discounters’ private label ranges of chocolate spreads are around one half of the price of Nutella.

Store expansion and widening selection offer growth potential for discounters

Sweet spreads are widely distributed through traditional and modern grocery channels, with consumers able to choose from a wide variety of products in different price segments. Although discounters is a fast-expanding channel, these stores still tend to offer a limited selection in terms of flavours and sugar-free versions, which constrains the channel’s share in sweet spreads.

Limited distribution and high prices put the brake on sugar-free products

Growing concerns over high sugar intake and general health have been driving the sales of specialised companies offering sugar-free sweet spreads, such as Productos Alimenticios Konfyt (Konfyt brand) and Alimentos Especializados Ales (Diety). Both companies and brands continue to see a gradual increase in retail value share in jams and preserves and sweet spreads overall in 2019.

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Sweet Spreads in Colombia

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Overview

Discover the latest market trends and uncover sources of future market growth for the Spreads industry in Colombia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Spreads industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Spreads in Colombia market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Spreads in Colombia?
  • What are the major brands in Colombia?
  • How are manufacturers leveraging health and wellness trends like reduced sugar or organic sourcing?

Why 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 industry report originates from Passport, our Packaged Food market research database.

Sweet Spreads in Colombia - Category analysis

HEADLINES

PROSPECTS

Consumption culture and stable prices maintain demand for jams and preserves
Honey fails to reach full potential due to high prices and large informal market
Lower prices push fast rise in volume sales for chocolate spreads

COMPETITIVE LANDSCAPE

Nutella continues to lose ground to much cheaper private label chocolate spreads
Store expansion and widening selection offer growth potential for discounters
Limited distribution and high prices put the brake on sugar-free products

CATEGORY DATA

Table 1 Sales of Sweet Spreads by Category: Volume 2014-2019
Table 2 Sales of Sweet Spreads by Category: Value 2014-2019
Table 3 Sales of Sweet Spreads by Category: % Volume Growth 2014-2019
Table 4 Sales of Sweet Spreads by Category: % Value Growth 2014-2019
Table 5 Sales of Jams and Preserves by Leading Flavours: Rankings 2014-2019
Table 6 NBO Company Shares of Sweet Spreads: % Value 2015-2019
Table 7 LBN Brand Shares of Sweet Spreads: % Value 2016-2019
Table 8 Distribution of Sweet Spreads by Format: % Value 2014-2019
Table 9 Forecast Sales of Sweet Spreads by Category: Volume 2019-2024
Table 10 Forecast Sales of Sweet Spreads by Category: Value 2019-2024
Table 11 Forecast Sales of Sweet Spreads by Category: % Volume Growth 2019-2024
Table 12 Forecast Sales of Sweet Spreads by Category: % Value Growth 2019-2024

Packaged Food in Colombia - Industry Overview

EXECUTIVE SUMMARY

Back to basics movement as consumers shift or return to more natural products
Impulse products suffer from health trend and modern retail opportunities
Reformulation strategies create healthier options and revive interest in products
Private label benefits from the expansion of discounters in tough economic climate
Value over volume growth as more sophisticated offer increases unit prices

FOODSERVICE

Sales to Foodservice
Fast growth in plain noodles sales to foodservice as Asian cuisine grows in popularity
Burger foodservice boom spurs demand for frozen processed potatoes
Demand for fried food and burgers stimulates edible oils sales to foodservice
Consumer Foodservice
Delivery apps change the way consumers interact with foodservice
Extended serving times and new menus lure consumers
Independents offer innovation and new experiences to recover from tough economic conditions

CATEGORY DATA

Table 13 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 14 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 15 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 16 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 17 Sales of Packaged Food by Category: Volume 2014-2019
Table 18 Sales of Packaged Food by Category: Value 2014-2019
Table 19 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 20 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 21 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 22 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 23 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 24 Penetration of Private Label by Category: % Value 2014-2019
Table 25 Distribution of Packaged Food by Format: % Value 2014-2019
Table 26 Distribution of Packaged Food by Format and Category: % Value 2019
Table 27 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 28 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 29 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 30 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources