Colombia

The current offerings in wound care products remain predominantly basic, simply providing various shapes and sizes to cover injuries on different body parts. However, consumer awareness of innovative features in these products is generally low, as…

Baby food continues to see a decline in retail volume sales in 2023, although it is less severe than in previous years. The main cause of the downward trend can be traced to the downturn in the number of births in Colombia, which has declined by 8%,…

Colombia is facing potential shortages in butter, as a large proportion of milk production is used to produce cheese, yogurt and drinking milk. Dairy producers have struggled to meet demand amid a shortage in milk, especially during the first…

Soft cheese is witnessing the strongest increase in current value sales in 2023, with retail price inflation largely responsible for the growth. Since the end of 2022, price increases have also been exacerbated by a reduction in supplies of soft…

Dairy products and alternatives is recording another year of sluggish retail volume growth in 2023, in response to low production and supply chain issues. High transport costs, the increase in the price of raw materials and worker shortages have…

The cow’s milk segment continues to see significant price increase in 2023 driven by the rising cost of production, including fertiliser and utility prices, distribution and inflation. Milk products have been amongst the most impacted within the…

Retail volume sales of other dairy has made a marginal improvement in 2023, following a year of decline in the previous year. The shift back to the foodservice channel hampered retail sales in 2022, but with sales growth slowing in the horeca channel…

Consumers have moved away from soy drinks and towards tastier plant-based milk based on almonds, oats, rice and coconut or blends, even though both segments are considered a niche, with a strong price barrier to overcome. Plant-based dairy has also…

In 2023, retail volume sales of yoghurt and sour milk products is being negatively affected by multiple factors, such as increases in prices and disruption of raw materials. Nevertheless, the healthy aspects of yoghurt, which is associated with…

Colombia's 2022 population growth is set to reverse between 2023 and 2040 due to negative net migration. Generation Z, the largest generation, seeks digital-native experiences. Colombians prioritise living in the present, embracing innovation, and…

Bogota is expected to maintain its position as Colombia’s most populous city and top consumer market in 2027. The capital boasts robust internet connectivity and economic stability, making it attractive to businesses. However, high inflation in Santa…

Colombia’s per capita income is projected to grow over 2022-2027, with middle-aged individuals dominating the top income group. Income inequality remains high but is expected to decrease in the long term, while social class C will see the fastest…

Colombia’s household landscape is poised for moderate growth between 2022 and 2027, with other (extended) households becoming the dominant type. In 2022, inflation, at 10.2%, raised living expenses, impacting household spending. Single person…

The use of local materials is of utmost importance in Colombian accessories as it fosters a sense of cultural identity and pride. Utilising materials that are indigenous to the region celebrates the country's rich heritage and craftsmanship. By…

The fashion industry in Colombia represents 9.4% of the total industrial GDP and employs around 600,000 people. The industry continues to grow post-pandemic, recovering from supply problems, regaining consumers as trend followers resume activities.…

Size changes, also known as growth spurts, play a significant role in promoting purchases in the childrenswear category in Colombia. As children rapidly grow, parents and caregivers frequently need to update their children's wardrobes with new…

Colombian consumers' widespread adoption of sneakers/trainers, particularly white sneakers, can be attributed to their willingness to embrace global fashion trends. The growth of sneakers sales helped drive general growth of footwear in 2023. White…

Executive events, forums and union meetings have been reactivated post pandemic, and the trend in hosiery is the use of trendy stockings with vibrant colours and patterns: stripes, dots, cartoons and even fruits. Some businessmen mix them with the…

Colombian jeans have gained worldwide recognition due to their exceptional quality, innovative designs, and impeccable fit. Renowned for their attention to detail, Colombian brands are known to have mastered the art of creating jeans that flatter…

As society has now reopened in the wake of the pandemic and men have returned to their places of work and can once again enjoy social gatherings, items, such as outerwear, have become more necessary than underwear and nightwear. With limited budgets,…

Brand loyalty remains a prominent aspect in the Colombian sportswear industry, with consumers often expressing strong preferences for established global brands, such as Nike and adidas due to their reputation for quality and performance. However,…

The sustainability trend in womenswear in Colombia reflects a growing awareness of environmental and social responsibility among both consumers and fashion brands. Colombian women are increasingly seeking clothing options that are eco-friendly,…

In the early months of 2023, a challenging macroeconomic climate, coupled with low consumer confidence, high interest rates to curb demand and soaring inflation, as well as political uncertainty, resulted in a marked deceleration in the issuance of…

The Colombian economy felt the effects of a slowdown in the first semester of 2023 due to a restrictive monetary policy, compounded by a significant increase in interest rates at the end of 2022. This caused credit card interest rates to rise above…

In 2023, the issuance of credit cards is expected to remain almost flat, with no significant increase. Growth rates for the number and value of transactions are also expected to decelerate compared to the previous year. The value of transactions,…

The use of debit cards continues to grow and they remain the most important payment method behind cash. Further robust growth is expected in 2023 both in the number of cards in circulation and value of transactions. The performance of debit cards has…

The use of debit cards continues to grow strongly in Colombia, supported by increased online purchases and cautious consumer behaviour. While credit card issuance remains stagnant, pre-paid cards, particularly closed loop transportation cards, are…

In 2023, the number of pre-paid cards in circulation is expected to grow steadily. Closed loop pre-paid cards, particularly transportation cards, will remain the most important. This growth is driven by increased mobility as hybrid work schemes lose…

Store cards are expected to continue their downward trajectory in 2023 in both transaction value and the number of cards in circulation. With consumers having more alternatives to choose from pre-paid, including credit or debit cards offering…

The Colombian economy began to recover in the second half of 2021, with growth reaching + 7.5% by the end of the year 2022. This was fuelled by fiscal stimuli registered in 2021, increased oil prices and a boost in food and beverages exports which…

Global prices of cooking oils have been rising since the COVID-19 pandemic began, with the price hikes intensified thanks to the war in Ukraine and the resultant regional shortage of sunflower oil. Though no such shortage was noted in Colombia during…

Sales of ready meals are declining in retail volume terms in 2023, with people returning to their normal routines and spending more time outside of the home thanks to the lifting of COVID-19 restrictions. This is seeing a shift back towards…

Remote and hybrid working models are shifting consumption habits towards more flexible patterns of eating at more convenient times, with the impact of rising living costs on consumer confidence and household spending levels also supporting these…

Retail sales of sweet spreads are seeing growth boosted in Colombia in 2023 by the expansion of consumption opportunities, with consumers increasingly choosing to use chocolate spreads as ingredients in the preparation of home-made desserts and…

Inflation in Colombia reached its peak in 2022 and, although it significantly decelerated in the first half of 2023, records continue to show high inflation rates. Food prices, particularly those of baked goods, were no exception to this trend. The…

In 2023, hot cereals, muesli, and granola, as product areas, have recorded the most robust sales performance. Hot cereals, primarily oats, along with muesli and granola, have benefited from their healthier attributes when compared to other breakfast…

In 2023, among all the staple foods, processed fruit and vegetables experienced the most challenging sales performance. The primary factor behind this sales decline was the remarkable stability, and even occasional price reductions, in fresh fruit…

Since the beginning of 2023, packaged food brands are required to incorporate health warning black seals on their packaging, indicating an excess content of saturated fat, sugars, or sodium.

Dried pasta and rice are staple products on Colombian tables, offering versatility for various meals and affordability. While they are not the same type of food, both are commonly consumed either on their own or paired with vegetables, meat, or a…

Staple foods in Colombia in 2023 is significantly influenced by food price-related issues, inflation, and the country's GDP evolution. The historically high inflation experienced in 2022 continued to be a major concern for all stakeholders in staple…

One of the significant impacts of the pandemic was the shift towards the consumption of high-quality coffee within domestic settings. This trend has endured beyond the 2020 lockdowns, with fresh ground coffee showcasing dynamic retail volume growth…

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…

The negative performance of hot drinks in 2023 can be attributed to two primary factors. Firstly, rising prices are impacting demand not only for hot drinks themselves but also for associated beverages like milk, which continues to experience…

Following a pandemic-induced surge, the demand for a more diverse range of teas and offerings is persisting within on-trade channels. In contrast to coffee, tea faced lesser impacts from inflation and the escalating costs of raw materials in 2023.…

This megatrend report highlights long-term trends resulting from shifts in consumer values and behaviors. It provides a summary of Euromonitor International’s 10 megatrends and insights as to how each trend has manifested in Colombia

The exceptionally warm weather in 2023, coupled with the El Nino phenomenon intensifying and tap water quality issues, led to a surge in bottled water consumption. This category, one of the few within soft drinks to experience notable growth in both…

Soft drinks producers have faced mounting challenges due to rising input costs and supply chain disruptions, including soaring energy prices, bottlenecks in the supply chain, and escalating prices of primary packaging materials. Despite experiencing…

Powder concentrates continue to experience a decline in volume as consumers' increased mobility away from home has reduced at-home consumption occasions. The growing demand for fresh fruit for natural juices is supported by data from the National…

The demand for energy drinks experienced marginal growth in 2023, building on the progress made in 2020 and driven by increasing consumption occasions. Volume and value sales are growing in both off-trade and on-trade channels, albeit at a slower…

The demand for juice in off-trade volume terms has been slowing down in 2023 as the Colombian tradition of home-made natural fruit juice remains strong, especially in light of economic constraints. Juice continues to be associated with perceptions of…