Cider, Perry & Rice Wine - Colombia

The Cider, Perry & Rice Wine market in Colombia is experiencing significant growth and development in recent years.

Customer preferences: Colombian consumers have shown a growing interest in alternative alcoholic beverages, such as cider, perry, and rice wine. This shift in preference can be attributed to several factors. Firstly, there is a rising health-consciousness among consumers, leading them to seek out beverages that are perceived as healthier alternatives to traditional alcoholic drinks. Cider, perry, and rice wine are often marketed as natural and gluten-free options, appealing to health-conscious consumers. Additionally, the unique flavors and aromas offered by these beverages provide a novel drinking experience for consumers, further driving their popularity.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Colombia is the increasing availability and variety of products. As demand for these beverages grows, both domestic and international producers are expanding their product offerings to cater to the diverse preferences of consumers. This trend is evident in the introduction of new flavors and variations of cider, perry, and rice wine in the market. Furthermore, there has been a rise in the number of craft and artisanal producers, who offer small-batch, high-quality products that appeal to consumers looking for unique and premium options.

Local special circumstances: Colombia's geographical and climatic conditions play a significant role in the development of the Cider, Perry & Rice Wine market. The country's diverse landscapes and fertile soil provide ideal conditions for growing the fruits necessary for cider and perry production, such as apples and pears. This has led to the emergence of local producers who utilize these resources to create distinct and authentic products. Additionally, Colombia has a rich cultural heritage that includes traditional rice wine production, which has contributed to the popularity of this beverage in the market.

Underlying macroeconomic factors: The growth of the Cider, Perry & Rice Wine market in Colombia can also be attributed to underlying macroeconomic factors. The country has experienced steady economic growth in recent years, resulting in an expanding middle class with increased purchasing power. This has created a larger consumer base for alcoholic beverages, including cider, perry, and rice wine. Furthermore, Colombia has seen a rise in tourism, with more international visitors seeking out unique and local experiences. This has boosted the demand for traditional and artisanal products, including those in the Cider, Perry & Rice Wine market. In conclusion, the Cider, Perry & Rice Wine market in Colombia is witnessing significant growth and development due to changing customer preferences, increasing availability and variety of products, local special circumstances, and underlying macroeconomic factors. As consumers continue to seek out alternative alcoholic beverages and demand for unique and premium options grows, the market is expected to further expand in the coming years.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.