Colombia Wine Market Overview, 2028

In Colombia, traditionally the country's alcoholic beverage consumption was dominated by beer and spirits, but wine has been gaining popularity as Colombians' taste for wine expands. Wine consumption in Colombia has been steadily increasing due to evolving consumer preferences and growing interest in wine culture. The demand is driven by factors such as increasing disposable income, urbanization, changing lifestyles, and a growing middle class. Colombia has a nascent domestic wine production industry. Wine is produced mainly in regions with suitable climates such as the high-altitude areas of Boyacá and Cundinamarca. Local wineries focus on producing small quantities of premium and artisanal wines. Wine tourism is an emerging trend in Colombia, with an increasing number of wine enthusiasts visiting wineries and vineyards. Wine festivals and events are also organized to promote the wine culture and showcase domestic and international wine offerings. Wine is still a relatively new and intriguing beverage for many Colombians. As a result, there is a sense of novelty and curiosity surrounding wine consumption, leading to an exploration of different wine styles, varieties, and regions. The wine culture in Colombia is steadily developing, with an increasing number of wine tastings, events, and educational programs. Wine enthusiasts, sommeliers, and wine clubs are emerging, contributing to a deeper appreciation and understanding of wine. While Colombia has its own wine production, there is also a growing demand for international wines. Consumers have access to a wide range of imported wines from renowned wine-producing countries, allowing them to explore and discover global wine offerings. According to the research report " Colombia wine Market Overview, 2028," published by Bonafide Research, The Colombia wine market was valued at above USD 460 Million in 2022. One of the specialties of the wine market in Colombia is the production of high-altitude wines. Colombia's unique geography, with its mountainous terrain and diverse microclimates, provides ideal conditions for cultivating vineyards at higher elevations. This results in the production of wines with distinct characteristics and flavors that are reflective of their terroir. The wine market in Colombia can be segmented into various product types based on factors such as grape variety, style, and origin. Some common product types in the Colombian wine market such as, Red Wine, White Wine, Rosé Wine, Sparkling Wine, Sweet and Fortified Wines, Organic and Biodynamic Wines, Imported Wines. Colombia has a growing wine industry, and several local brands have emerged in recent years. Some popular Colombian wine brands are, Viñedo San Pedro, Casa de la Vega, Marqués de Villa de Leyva, Clos de los Siete, etc. The most popular wine in the Colombian market is red wine, specifically made from the Cabernet Sauvignon grape variety. Cabernet Sauvignon wines are favored for their bold and robust flavors, which appeal to a wide range of wine enthusiasts. The wine market in Colombia can be segmented by color type, which refers to the color of the wine based on the grape varieties used and the winemaking process. Includes, Red Wine, White Wine, Rosé Wine, Sparkling Wine, Fortified and Dessert Wines. In the Colombian wine market, red wine is generally considered the most drinkable and popular color type. Red wine has a wide appeal among consumers and is often preferred for its versatility, richness, and ability to pair well with various foods. Some reasons why red wine is highly drinkable in Colombia are Flavor Profile, Food Pairing, Versatility, Perceived Health Benefits. The wine market in Colombia offers a range of wines categorized by their sweetness levels. Such as, Dry Wines, Off-Dry Wines, Semi-Sweet Wines, Sweet and Dessert Wines, Sparkling Wines. The wine market in Colombia is distributed through various channels to reach consumers. Some common distribution channels in the Colombian wine market are, Retail Stores, Restaurants and Bars, Online Retail, Wine Clubs and Subscription Services, Direct Sales from Wineries, Duty-Free Shops. Key Drivers of the Wine Market in Colombia includes, Growing Wine Culture, Rising Disposable Income, Wine Tourism. Opportunities in the Wine Market of Colombia are, Domestic Wine Production, Exports, Wine Education and Events. Considered in this report • Geography: Colombia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

Aspects covered in this report • Colombia wine 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 • Still Wine • Sparkling Wine By Colour • Red Wine • White Wine • Rose Wine • Others

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Manmayi Raval

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By Sweetness Level • Semi-Sweet • Dry • Sweet • Semi-Dry By Distribution 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 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, analysing 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.

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Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to wine 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.