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Colombia Gin Market Overview, 2028

Colombia Gin Market Overview, 2028

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Colombia Gin Market Overview, 2028
Colombian consumers have shown an increasing appreciation for high-quality spirits, including premium gins. Colombia's rich biodiversity offers a wide array of unique botanicals that are often used in local gin production. Some producers focus on incorporating indigenous Colombian botanicals, such as juniper berries, coca leaves, lulo fruit, and passionflower, to create distinct and regionally inspired gin flavours. They seek out gins with unique flavour profiles, carefully selected botanicals, and superior craftsmanship. Gin appreciation clubs and societies have emerged in Colombia, bringing together gin enthusiasts who share a passion for the spirit. These clubs organise tastings, workshops, and gatherings where members can explore different gins, exchange knowledge, and foster a sense of community around gin appreciation. Gin is often enjoyed alongside Colombian cuisine. Pairings of gin with traditional Colombian dishes or ingredients, such as ceviche, arepas, or tropical fruits, are becoming more popular. The diverse flavour profiles of gin can complement and enhance the culinary experience. The country has seen an increase in mixology competitions, where bartenders showcase their creativity and skills in creating unique gin cocktails. These competitions help promote innovation, encourage mixologists to experiment with new ingredients and techniques, and elevate the cocktail culture in the country.

According to the research report Columbia Gin Market Overview, 2028, published by Bonafide Research, the Columbia Gin market is expected to add more than 21 million by 2023–2028, Colombia hosts its own gin awards competitions, recognising and celebrating the excellence of local gin producers. These awards showcase the talent and craftsmanship of Colombian distilleries and provide a platform for them to gain recognition both locally and internationally. The World Gin Awards and The Gin Masters are the award shows. Some Colombian gin distilleries have started infusing their spirits with Colombian coffee, combining two beloved Colombian beverages into one. This innovation adds an interesting twist to gin by infusing it with the rich flavours and aromas of Colombian coffee. Gin is widely available in bars, pubs, and restaurants across Colombia. These establishments often have a dedicated selection of gins, allowing customers to enjoy gin-based cocktails or classic gin and tonics in a social setting. It includes El Corral Gourme, Distrito Tinto, La Cueva del Chango, El Barón, and El Boliche Cebichera. E-commerce platforms and online liquor retailers have gained popularity in Colombia. Consumers can browse and purchase gin from the comfort of their homes, with the option of home delivery. Online retailers may offer a wide selection of gin brands, including both domestic and imported options. Rappi, MercadoLibre, Tottus, Exito, and Licores Bogotá: These are popular online retailers in the country. Travellers passing through international airports or border crossings can find gin available for purchase at duty-free shops. These shops offer a range of spirits, including gin, at tax-free prices.

Distilleries in Colombia must comply with regulations regarding the production and distillation processes of alcoholic beverages. These regulations often include standards for equipment, facilities, hygiene practises, and labelling requirements to ensure the quality and safety of the products. Distilleries may be required to obtain environmental permits to ensure compliance with environmental regulations. These permits assess the potential environmental impact of the distillery's operations and establish measures to mitigate any negative effects. The legal drinking age in Colombia is 18 years old. Retailers, bars, and restaurants must adhere to age verification processes and refrain from selling alcoholic beverages, including gin, to individuals below the legal drinking age. There may also be regulations in place regarding the hours and conditions under which alcohol can be sold. Gin has traditionally been less popular compared to other spirits in Colombia, such as rum or aguardiente. As a result, creating awareness and educating consumers about the characteristics, flavours, and versatility of gin can be a challenge for gin producers and distributors. Colombia has a strong cultural connection to certain traditional spirits, such as aguardiente. Convincing consumers to explore and embrace new spirits like gin can be a challenge, as cultural preferences and established drinking habits may limit consumer acceptance and adoption. Premium gins are generally characterised by their higher quality, carefully selected botanicals, and craftsmanship. These gins often have a more refined flavour profile and may incorporate unique or exotic ingredients. Premium gins tend to appeal to consumers who appreciate the artistry and attention to detail in their spirits. This segment may attract gin enthusiasts, cocktail enthusiasts, and those seeking a more elevated drinking experience. London dry gin is indeed a popular choice among consumers in Colombia. Its classic and juniper-forward flavour profile appeals to many gin enthusiasts who appreciate the traditional gin experience.

Colombia has a strong cultural association with traditional spirits such as rum and aguardiente. Convincing consumers to embrace and explore gin as a beverage of choice can be challenging, as cultural preferences and established drinking habits may limit consumer acceptance and adoption. Gin is still relatively new to many consumers in Colombia. Building market awareness and educating consumers about the different styles, flavours, and versatility of gin can be a challenge. Educating consumers about gin's unique characteristics and promoting its use in cocktails and mixed drinks can help expand its market share. Pricing can be a significant factor influencing consumer choices. Some premium and imported gin brands may have higher price points, making them less accessible to price-sensitive consumers. Balancing the affordability of gin options while maintaining quality and perceived value is crucial for market penetration. Gin producers in Colombia are embracing innovation and diversifying their offerings to cater to evolving consumer preferences. This includes the introduction of new botanical combinations, local and exotic flavours, and limited-edition releases, providing consumers with a wider range of choices and experiences. Colombia's growing tourism industry and exposure to international travellers bring in influences from other gin-loving regions, exposing consumers to different styles and brands of gin. This can lead to increased interest and demand for a wider range of gin options.

Considered in this report

• Geography: Columbia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Columbia Gin 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

• London Dry Gin
• Old Tom Gin
• Plymouth Gin
• Others

By Price Point

• Standard
• Premium
• Luxury

BY Sales Channel

• On trade
• Off trade

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 Gin 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.

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