Colombia Tequila Market Overview, 2028

In Colombia, the term "tequila" is used to refer to agave-based spirits. Agave plants, the primary ingredient for tequila production, are grown in various regions of Colombia. The country's climate and soil conditions make it suitable for agave cultivation. Several Colombian distilleries produce agave-based spirits, commonly known as "aguardiente de agave" or "aguardiente de tequila." These spirits are crafted using traditional tequila-making techniques, including harvesting, cooking, fermentation, distillation, and aging. The Colombian tequila market has experienced growth in recent years. Domestic consumption of agave-based spirits has increased, and there is also a growing interest in Colombian tequila exports. Colombian brands are gaining recognition both domestically and internationally. Colombian tequila producers have participated in international spirits competitions, receiving accolades and awards. These achievements help raise awareness and credibility for Colombian tequila in the global market. One of the main challenges for Colombian tequila producers is the restriction on using the term "tequila" outside of Mexico due to geographical indications and international regulations. This limits their ability to market their products with the official tequila label. Despite the restrictions on using the term "tequila" outside of Mexico, Colombian tequila has been gaining international recognition. Producers have been successful in promoting their agave-based spirits as high-quality products with unique Colombian characteristics, capturing the attention of tequila enthusiasts worldwide. Many tequila producers in Colombia follow traditional, artisanal production methods. They take pride in small-batch production, hand-harvesting agave plants, and employing age-old techniques to craft their tequila. This emphasis on craftsmanship and attention to detail adds a unique touch to the Colombian tequila market. Colombian tequila producers are known for their innovative and experimental approach. They often introduce unique flavor combinations and infusions, such as fruit-infused tequilas or aged tequilas in different types of barrels, allowing for a diverse range of products and flavors. According to the research report "Colombia Tequila Market Overview, 2028," published by Bonafide Research, The Colombia Tequila market is expected to grow at above 7.81% CAGR from 2023 to 2028. In the tequila market of Colombia, there are several unique aspects that distinguish it from other tequila-producing regions. Some of the unique things about the tequila market in Colombia are Geographical diversity, Local agave species, Artisanal production, Innovation and experimentation, Local consumption preferences, Growing international recognition. The different types of tequila in Colombia tequila market, including Blanco, Reposado, Añejo. In addition to Blanco, Reposado, and Añejo, there are other variations and special editions of tequila available in the market. These may include Extra Añejo tequila, which is aged for more than three years, as well as flavored tequilas that incorporate natural fruit or spice infusions. Widely consumed tequila in Colombia is Blanco tequila, which is also known as silver or white tequila, is typically unaged or aged for a short period, giving it a clear appearance. It is known for its crisp, fresh flavors and is often used in cocktails. Some popular Colombian brands producing Blanco tequila include Aguardiente Antioqueño Tequila Blanco, Tierra Noble Blanco, Tequendama Blanco, etc. Some popular Colombian brands producing Reposado tequila include Aguardiente Antioqueño Tequila Reposado, Tierra Noble Reposado, Tequendama Reposado. Some notable Colombian brands known for their aged tequilas include Aguardiente Antioqueño Aged Tequila, Tierra Noble Aged Tequila, Tequendama Aged Tequila.

The Colombian tequila market can be categorized into different grades based on price and quality. These grades include Value tequilas are typically more affordable and cater to a broader consumer base. They are often produced using efficient production methods and may have a shorter aging period or be unaged. These tequilas are generally accessible and suitable for mixing in cocktails. Premium tequilas are of higher quality compared to value tequilas. They are often made from high-quality agave plants and may undergo a longer aging process. Premium tequilas tend to have a more refined flavor profile and are suitable for sipping or enjoying in cocktails. High-end premium tequilas are positioned as more exclusive and luxurious products. They are crafted using carefully selected agave plants and may undergo extensive aging in high-quality barrels. These tequilas often have complex flavors and are intended for savoring neat or in sophisticated cocktails. Super premium tequilas represent the highest tier in terms of quality, craftsmanship, and price. They are made from exceptional agave plants, often sourced from specific regions, and aged for an extended period in premium barrels. These tequilas offer a rich and sophisticated flavor experience and are typically enjoyed neat or with minimal accompaniments. In many markets, including Colombia, there tends to be a significant consumption of tequilas in the value and premium categories. These categories often cater to a broader consumer base due to their affordability and accessibility. Value tequilas are popular for mixing in cocktails and are favored by consumers who prioritize affordability and versatility. Premium tequilas are also widely consumed as they offer higher quality and more refined flavor profiles. They appeal to consumers who are willing to spend a bit more for an elevated tequila experience, whether it's for sipping or mixing in high-quality cocktails. In Colombia, the distribution of tequila and other alcoholic beverages generally follows two main channels off-trade and on-trade. The off-trade distribution channel refers to the sale of tequila through retail outlets where consumers purchase products for consumption at home. This includes supermarkets, liquor stores, convenience stores, and online platforms. Off-trade distribution allows consumers to choose from a wide range of tequila brands and varieties available in the market. Supermarkets and liquor stores often have dedicated sections for alcoholic beverages, including tequila, where consumers can browse and make their selections. Online platforms have also gained popularity, providing convenience and a wider product selection for consumers to purchase tequila and have it delivered to their doorstep. The on-trade distribution channel involves the sale of tequila through establishments where alcoholic beverages are consumed on-site. This includes bars, restaurants, hotels, clubs, and other similar venues. In the on-trade channel, consumers have the opportunity to enjoy tequila in a social setting and often have access to a wider selection of brands and cocktails. Bars and restaurants may curate their tequila offerings based on customer preferences, offering different types of tequila (Blanco, Reposado, Añejo) and tequila-based cocktails. The tequila market in Colombia has been experiencing growth and presents several key trends and opportunities. Here are some of them are Increasing Consumer Interest, Premiumization and Craft Tequila, Cocktail Culture and Mixology, Education and Tasting Experiences, E-commerce and Online Sales, Export Potential. These trends and opportunities indicate a positive outlook for the tequila market in Colombia, creating room for innovation, market expansion, and increased consumer engagement. Considered in this report • Geography: Colombia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Manmayi Raval

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Aspects covered in this report • Colombia Tequila market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • Blanco • Reposado • Anejo • Others

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By Grade • Value • Premium • High - End Premium • Super Premium By Distribution Channel • Off-Trade • On-Trade By off-trade Distribution Channel • Supermarkets and Hypermarkets • Discount Stores • Online Stores • Others By On-trade Distribution Channel • Restaurants and Bars • Liquor Stores • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Tequila industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.