The economic outlook is weak for 2024, despite the predicted fall in the inflation rate, with rising unemployment, higher fuel prices, and a deterioration in household disposable income expected to curb demand for spirits. However, total volume sales should grow at similar rates to those recorded in the review period.
In 2023, interesting innovations were presented in aguardiente and also in rum, with the arrival of Licor de Ron Medellín Pink. This product not only features a distinct colour but also introduces a new flavour, deviating from the traditional options available on the market, such as lemon or tangerine.
Brands in the economy segment are expected to witness faster growth over the forecast period. Competition among retailers will expand the range of budget brands and the low-price tier.
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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
Spirits
This is the aggregation of whisk(e)y, brandy and Cognac, white spirits, rum, tequila, liqueurs and other spirits.
See All of Our DefinitionsThis report originates from Passport, our Spirits research and analysis database.
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