Colombia Liquor Market Report and Forecast 2024-2032

Colombia Liquor Market Outlook

The Colombia liquor market size is estimated to expand at a CAGR of 5.40% between 2024 and 2032.

Key Takeaways

• Colombians have a strong preference for Aguardiente, which is the national liquor exclusively manufactured by monopolistic public/private ventures in specific regions of the country.

• The primary suppliers of wine are Chile and Argentina.

• Consumers' increasing interest in unique tastes has fuelled creativity in the wine, spirits, and beer sectors. Additionally, there is a clear preference for premium options, with consumers showing their willingness for high-quality beverages.

The Colombia liquor market growth is driven by the rising consumption of alcoholic beverages by adults at social gatherings and corporate events. It is anticipated that the target market will further expand in the upcoming years, as major alcoholic beverage producers dedicate additional resources to introduce beverages with unique and exotic flavours.

The on-trade segment, which includes restaurants and pubs, significantly contributes to the sales of the product. Additionally, Colombia is a highly sought-after vacation destination worldwide, attracting numerous visitors during the holiday season. This influx of tourists has a significant influence on the sales of liquor, as people prefer to consume beverages during their vacations, consequently driving up the Colombia liquor market share.

Beer enjoys a significant market demand, with consumption per capita in Colombia reaching 48.9 litres in 2021. This marked a 24.7% increase compared to the previous year. Colombia has historically experienced fluctuations in beer consumption per capita. The increasing beer consumption in the country can be attributed to increasing disposable incomes and rapid urbanisation. Further, the consumer interest in other beverage types is also increasing, with the U.S. whiskeys and bourbons experiencing a surge in popularity. However, the major source of whisky for the Colombian market is the UK.

Women are emerging as a significant consumer market for alcoholic beverages. They are demanding sophisticated beverages and drinks that guarantee improved experience. The increasing participation of women in workforce and their rising preference for premium beverages provide lucrative opportunities for the market expansion.

Market Segmentation

Colombia Liquor Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Tequila

• Whiskey

• Vodka

• Rum

• Brandy

• Gin

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Speciality Stores

• Convenience Stores

• Online

• Others

Competitive Landscape

The market participants are directing their attention towards the establishment of microbreweries and the production of craft beers, which are highly sought after due to their distinctive flavours and artisanal characteristics.

• Diageo Plc  

• Pernod Ricard S.A. 

• Bacardi Ltd.   

• Dictador 

• Industria Licorera de Caldas  

• William Grant & Sons Ltd.  

• Parce Rum  

• RON LA HECHICERA S.A.S.  

• Empresa de Licores de Cundinamarca  

• Fábrica de Licores y Alcoholes de Antioquia  

• Others

Key Highlights of the Report