Spreads & Sweeteners - Colombia

Colombia

Revenue in the Spreads & Sweeteners market amounts to €342.90m in 2024. The market is expected to grow annually by 5.95% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€132,300m in 2024).
In relation to total population figures, per person revenues of €6.55 are generated in 2024.
In the Spreads & Sweeteners market, volume is expected to amount to 124.40m kg by 2029. The Spreads & Sweeteners market is expected to show a volume growth of 3.8% in 2025.
The average volume per person in the Spreads & Sweeteners market is expected to amount to 2.0kg in 2024.

Key regions: Spain, Japan, China, Philippines, United Kingdom

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Food market in Colombia has seen moderate growth in the Spreads and Sweeteners sub-markets. Factors such as increasing disposable income, changing consumer preferences, and the convenience of online shopping have contributed to this growth. However, the market's overall growth rate remains minimal due to challenges such as high production costs and limited availability of raw materials.

Customer preferences: Consumer preferences in Colombia's Spreads & Sweeteners Market are shifting towards healthier and more natural options. With the rising awareness of the negative health impacts of artificial ingredients, consumers are seeking out spreads and sweeteners made from natural sources like honey, agave, and fruit extracts. This trend is driven by the growing emphasis on wellness and clean eating, as well as a desire for products that align with traditional Colombian cuisine and ingredients. Additionally, the demand for low-sugar and low-calorie options is also on the rise, as consumers become more health-conscious and seek out products that fit their dietary preferences. These shifts in consumer preferences are expected to fuel the growth of natural and healthier spreads and sweeteners in the Colombian market.

Trends in the market: In Colombia, the Spreads & Sweeteners market is experiencing a shift towards healthier and all-natural options, driven by consumer demand for more nutritious and organic products. This trend is expected to continue as health consciousness and awareness of the negative effects of artificial sweeteners and processed spreads increase among consumers. This presents opportunities for industry stakeholders to tap into this growing market segment and offer innovative and healthy products. Additionally, the rise of e-commerce and online grocery shopping in Colombia is also contributing to the growth of the Spreads & Sweeteners market, as consumers are able to easily access a wider variety of products and compare prices. This trend is expected to continue and could potentially lead to increased competition among market players.

Local special circumstances: In Colombia, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's diverse agricultural landscape. With a wide variety of produce grown locally, consumers have a preference for natural and organic ingredients in their food products. This has led to the emergence of small, local businesses producing artisanal spreads and sweeteners, catering to the demand for healthier and more sustainable options. Additionally, the government's policies promoting sustainable agriculture have also influenced market dynamics, with an increasing focus on supporting local producers and reducing imports.

Underlying macroeconomic factors: The Spreads & Sweeteners Market within The Food market in Colombia is greatly influenced by macroeconomic factors such as consumer spending power, economic stability, and government policies on import/export and taxes. The global demand for healthier food options has also impacted the market, leading to an increase in the production and consumption of natural and low-calorie spreads and sweeteners. Furthermore, the country's economic growth and increasing disposable income have led to a rise in consumer demand for premium and organic products, driving the market's growth. The government's initiatives to promote healthy eating habits and reduce the consumption of sugar have also positively impacted the market, with more consumers opting for healthier alternatives in their diets.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

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, and consumer price 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 Food 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. The market is updated twice a year.