Colombia Whiskey Market Overview, 2028

Colombia Whiskey Market Overview, 2028

Colombia's whiskey market is not just a destination for spirits enthusiasts; it's a vibrant community of like-minded individuals who gather to celebrate their shared love for whiskey. From tasting events that elevate the senses to whiskey clubs that foster camaraderie and knowledge exchange, the Colombian whiskey scene offers a warm embrace to all who seek to deepen their appreciation and understanding of this captivating spirit. Whiskey has become a symbol of status and sophistication in Colombian society. It is often associated with special occasions, celebrations, and corporate events. The presence of premium whiskey brands in restaurants, bars, and social gatherings adds an element of luxury and prestige to the experience. Some whiskey brands in Colombia collaborate with local artists to create unique bottle designs or limited-edition packaging. These collaborations showcase the country's vibrant art scene and add an aesthetic appeal to the whiskey market. The Colombian whiskey market has witnessed a trend towards premiumization, with consumers increasingly seeking out high-end and luxury whiskey brands. Collecting rare and limited-edition whiskeys has also gained traction among enthusiasts, leading to an appreciation for whiskey as an investment and a collectible item. Whiskey bars and specialty retailers have proliferated in major Colombian cities, catering to the growing demand for whiskey. These establishments offer extensive whiskey selections, knowledgeable staff, and immersive experiences, attracting whiskey connoisseurs and providing a platform for exploration and discovery.

According to the research report Colombia Whiskey Market Overview, 2028, published by Bonafide Research, The Colombia Whiskey Market was valued at above USD 572 Million in 2022. In Colombia, Scotch whiskey is currently leading the whiskey market. Scotch whiskey has established a strong presence and enjoys a significant market share in the country. The rich history, diverse flavor profiles, and established reputation of Scotch whiskey have contributed to its popularity among Colombian consumers. Scotch whiskey is known for its strict production regulations, regional variations, and distinct flavor profiles. It offers a wide range of options, including single malt, blended malt, and blended Scotch whiskies, catering to different preferences and budgets. The availability of various Scotch whiskey brands, expressions, and age statements allows consumers in Colombia to explore and appreciate the depth and complexity of this iconic whiskey style. While Scotch whiskey dominates the market, other types of whiskey, such as Irish whiskey, American bourbon, and rye whiskey, also have a presence in Colombia. These whiskey styles cater to different tastes and preferences, providing consumers with a diverse selection to choose from. In Colombia, the most commonly used grain to make whiskey is barley. Barley is the primary grain used in the production of malt whiskey, which is a style of whiskey made from malted barley and typically associated with Scotch whiskey. Barley provides the necessary enzymes for converting starches into fermentable sugars during the mashing process, which is crucial for the fermentation and distillation of whiskey. While barley is the primary grain used, it's worth noting that some craft distilleries in Colombia may also experiment with other grains, such as corn or rye, to create different styles or flavor profiles of whiskey. These variations can add unique characteristics to the final product, giving whiskey enthusiasts a diverse range of options to explore in the Colombian market.

In major Colombian cities, particularly Bogota and Medellin, whiskey bars and specialized retailers have sprung up to cater to the growing demand. These establishments offer a wide selection of international whiskey brands, providing a diverse range of options for whiskey enthusiasts. Colombia has seen a shift towards premium and luxury whiskey offerings. As consumers become more knowledgeable and discerning about whiskey, there is a growing demand for high-end and limited-edition releases, as well as collectible bottles. Whiskey tourism has gained traction in Colombia, particularly in regions where craft distilleries are located. Visitors can take distillery tours, learn about the whiskey-making process, and sample different expressions. This trend has contributed to the overall interest in whiskey and has become a niche attraction for tourists. In addition, Whiskey has become a popular base spirit in cocktail culture in Colombia. Bartenders and mixologists often use whiskey as a key ingredient in craft cocktails, showcasing its versatility and complexity. Classic whiskey-based cocktails, such as Old Fashioned and Whiskey Sour, are well-received by the Colombian audience. Also, Colombia has hosted international whiskey festivals, where enthusiasts and industry professionals gather to celebrate and explore different whiskey brands and expressions. These events offer a platform for whiskey producers to showcase their products and engage with the Colombian market. Furthermore, Whiskey appreciation clubs have emerged in Colombia, bringing together whiskey enthusiasts to share their passion and knowledge. These clubs organize tastings, educational sessions, and social events, fostering a community of like-minded individuals who appreciate whiskey. The whiskey market in Colombia may not have been as prominent as in some other countries. But Colombian consumers showed a curiosity for whiskey education, leading to the emergence of whiskey tastings, masterclasses, and events. Additionally, some local craft distilleries have begun producing whiskey, adding diversity to the market. Whiskey bars, specialized retailers, and whiskey tourism have also become part of the Colombian whiskey scene. Colombian whiskey market demonstrated signs of growth and a growing appreciation for whiskey among consumers.

Considered in this report:
• Geography: Colombia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• Colombia Whiskey 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 Grain Type:
• Malt/ Barley Whisky
• Wheat Whisky
• Rye Whisky
• Corn Whisky
• Blended Whisky
• Others

By Type:
• Scotch Whiskey
• American Whiskey
• Irish Whiskey
• Canadian Whiskey
• Japaneese Whiskey
• Others

By Quality:
• Premium
• High-End Premium
• Super Premium

By Beverage Type:
• Alcoholic
• Non-Alcoholic

By Flavor:
• Non-Flavored
• Flavored

By Distribution Channel:
• Off Trade
• On Trade

By Off Trade Distribution Channel:
• Supermarkets and Hypermarkets
• Liquor Stores
• Online Stores
• Others

By On Trade Distribution Channel:
• Hotels, Restaurants & Bars
• Others

By Age of Whisky:
• Below 12 Years
• 12 to 18 Years
• Above 18 Years

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 whiskey 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.