Juices - Colombia

The Juices market in Colombia has been experiencing steady growth in recent years, driven by changing consumer preferences and a growing awareness of the health benefits associated with juice consumption.

Customer preferences: Colombian consumers are increasingly looking for healthier beverage options, and juices are seen as a natural and nutritious choice. This has led to a shift away from sugary carbonated drinks towards healthier alternatives such as fruit juices. Additionally, there is a growing demand for organic and natural juices, as consumers become more conscious of the ingredients and production methods used in their food and beverages.

Trends in the market: One of the key trends in the Colombian juice market is the rise of functional juices. These are juices that are fortified with additional nutrients or ingredients that offer specific health benefits. For example, there has been an increase in the popularity of juices that contain added vitamins, antioxidants, or probiotics. This trend is driven by consumers' desire to optimize their health and well-being through their beverage choices. Another trend in the market is the growing popularity of exotic fruit juices. Colombia is known for its diverse range of tropical fruits, and consumers are increasingly interested in trying new and unique flavors. This has created opportunities for local juice producers to introduce innovative blends and flavors to cater to this demand.

Local special circumstances: Colombia's geographical location and climate make it an ideal environment for fruit cultivation. The country is known for its abundant supply of fruits such as oranges, guavas, pineapples, and passion fruits. This has led to a thriving local fruit industry, which in turn supports the growth of the juice market. Local juice producers have access to a wide variety of fresh and high-quality fruits, allowing them to create flavorful and nutritious juices. Furthermore, Colombia has a strong tradition of fruit consumption, with fruits being an integral part of the local cuisine. This cultural preference for fruits has also contributed to the popularity of juices in the country. Consumers are familiar with and enjoy the taste of various fruits, making them more likely to choose fruit juices over other beverage options.

Underlying macroeconomic factors: Colombia's improving economy and rising disposable incomes have also played a role in the growth of the juice market. As consumers have more purchasing power, they are able to afford higher-priced and premium juice products. This has created opportunities for both local and international juice brands to expand their presence in the Colombian market. Additionally, the government has implemented policies to promote healthy eating and reduce the consumption of sugary drinks. This has led to increased awareness among consumers about the health risks associated with excessive sugar intake, further driving the demand for juices as a healthier alternative. In conclusion, the Juices market in Colombia is experiencing growth due to changing consumer preferences, including a shift towards healthier beverage options and a growing interest in functional and exotic fruit juices. The country's abundant supply of fresh fruits, cultural preference for fruit consumption, improving economy, and government initiatives to promote healthy eating have all contributed to the development of the juice market in Colombia.

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 Non-Alcoholic Drinks, 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 Non-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. The market is updated twice a year.