Colombia Vodka Market Overview, 2028

Colombia has its own traditional drinking customs and rituals. For instance, a common practice is to share a round of drinks with friends or family, known as "una ronda." This custom promotes a sense of camaraderie and social bonding. Colombia has seen a rise in cocktail culture, particularly in urban centers. Bars and mixology establishments have gained popularity, offering a variety of creative and artisanal cocktails. Vodka is often perceived as a versatile spirit in Colombia. Its relatively neutral flavour profile makes it suitable for mixing in a wide variety of cocktails and mixed drinks. This versatility appeals to individuals who enjoy experimenting with different flavours and combinations. Vodka, as a versatile spirit, may be incorporated into these cocktails alongside other ingredients. With increased globalisation and exposure to international trends, the consumption of vodka and other international spirits has expanded in Colombia. Younger generations, in particular, may be more open to experimenting with different types of alcoholic beverages, including vodka. Vodka is often associated with celebratory occasions and social gatherings in Colombia. It is commonly consumed during parties, events, and festive gatherings, where it is enjoyed with friends and family. The perception of vodka as a drink for celebration and socialising contributes to its popularity in certain social settings. It is often associated with a premium and sophisticated image. Some premium vodka brands are seen as symbols of luxury and quality, appealing to consumers who are willing to invest in higher-end spirits. According to the research report "Columbia Vodka Market Overview, 2028," published by Bonafide Research, the Columbia vodka market was valued at above USD 123.361 million in 2022. Plain or unflavored vodka is typically known for its neutral taste, which allows it to blend well with other ingredients in cocktails. Plain vodka is often preferred by those who enjoy the versatility of using vodka as a base spirit for various mixed drinks. It provides a blank canvas for mixologists and allows the flavours of other ingredients to shine. While, Flavoured vodka has gained popularity in many markets due to the added infusion of various flavours, such as citrus, berry, vanilla, or spices. Flavoured vodka offers a more distinct taste profile, which can be appealing to individuals who prefer a specific flavour profile or who want to enjoy vodka on its own or with simple mixers. Furthermore, standard and premium vodka brands tend to be more popular and widely consumed compared to ultra-premium vodkas. This is because standard and premium vodka brands are often more accessible in terms of price and availability. Standard vodka brands offer a balance between affordability and quality, appealing to a broad consumer base. These vodkas are commonly used in bars, clubs, and social gatherings as a base spirit for mixing cocktails and are often chosen for their versatility and value for money. In Colombia, vodka is typically sold through various sales channels. Dedicated liquor stores are a popular sales channel for vodka in this country. These stores specialise in selling a wide range of alcoholic beverages, including vodka. La Licorera, Carulla, Jumbo, and Éxito are popular liquor stores. Colombia has vibrant nightlife scenes in cities like Bogotá, Medellin, and Cartagena. Bars, clubs, and lounges often offer a wide selection of alcoholic beverages, including vodka, to cater to different tastes and preferences. The e-commerce industry has been growing steadily in Colombia, and online retailers have become a popular sales channel for various products, including vodka. Consumers can browse and purchase vodka from online platforms and have it delivered to their doorstep. Rappi, Domicilios.com, MercadoLibre, and Tastets are well-known online platforms in Columbia. In Colombia, several vodka brands are popular and widely available. Smirnoff, Absolut, Grey Goose, Finlandia, Skyy, Cîroc are providing vodka in country. The government may regulate the alcohol content in vodka, setting limits on the percentage of alcohol by volume (ABV) allowed in the product. This is done to ensure that vodka sold in the market meets certain standards and to prevent the sale of excessively high-alcohol products. Vodka bottles are typically required to display certain information on their labels, including the brand name, alcohol content, producer's information, and any applicable health warnings or legal disclaimers. Government regulations may specify the specific requirements for labeling and packaging to provide consumers with accurate and transparent information. Ley 124 de 1994 regulates the advertising and promotion of alcoholic beverages in Colombia. It establishes guidelines to prevent misleading or irresponsible advertising practices and prohibits the targeting of minors in alcohol advertising. Producers and distributors of alcoholic beverages, including vodka, are typically required to obtain licenses and permits from the relevant government authorities. These licenses ensure compliance with regulations related to production, storage, transportation, and sale of vodka. Colombia has a strong cultural association with certain alcoholic beverages, such as aguardiente, a traditional anise-flavoured spirit. Vodka, as a relatively new entrant, may face challenges in establishing a strong foothold and competing with established local favourites. Furthermore, vodka faces competition from other types of alcoholic beverages in Colombia, such as rum, whisky, and tequila. Consumer preferences and cultural traditions can influence the demand for different types of spirits, impacting the market share of vodka. The Colombian government imposes significant taxes and regulations on alcoholic beverages, including vodka. These taxes can increase the final price of vodka and affect consumer affordability. Strict regulations and compliance requirements can also pose challenges for producers and distributors. As Colombia's middle class continues to grow and disposable incomes increase, consumers may have more discretionary spending power. This can lead to a higher demand for premium and imported vodka brands as consumers seek to explore and experience new spirits. The country has traditionally been associated with rum and aguardiente consumption. However, evolving tastes and preferences may lead to a shift in drinking habits, with vodka gaining more popularity among younger consumers who are open to trying different spirits and cocktails. The rise of cocktail bars and mixology in Colombia indicates an increasing interest in craft cocktails. Vodka's versatility as a base spirit in various cocktail recipes may contribute to its growing presence in the Colombian market as consumers seek out unique and innovative drink experiences. Considered in this report • Geography: Columbia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

Aspects covered in this report • Columbia Vodka 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 Product Type • Plain Vodka • Flavored Vodka By Quality • Standard • Premium • Ultra-Premium By Sales Channel • On trade • Off trade By Age Group • 18 to 28 • 29 to 38 • 39 to 48 • 48 + 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 list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analysing 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 conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, 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 Vodka Market, 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.