All distilled spirits are alcoholic beverages
manufactured by the distillation of grains, vegetables or fruits after they
have gone through the alcoholic fermentation process. Spirits undergo
distillation process to remove diluting components to increase the proportion
of alcohol content. Spirits consist of more than 10% alcoholic content compared
to brewed beverages. Various spirits available in Columbia are brandy, whiskey,
rum, tequila, gin, vodka, cane, flavoured spirits and natural spirits. Beer,
wine and cider are not considered as spirit as alcoholic content in these
products is less than 10%.
Spirits
in Colombia are widely distributed through
brick and mortar stores, independent grocers, hypermarkets, supermarkets and
specialists selling wider array of imported brands. However, the major
distribution channels in Columbian spirits industry are hypermarkets,
supermarkets, department stores, convenience stores, food & drinks
specialists, general merchandise retailers, vending machines, e-retailers and
other general retailers. Glass is leading packaging material used in spirits
industry.
Licores y Alcoholes de Antioquia, Industria de
Licores de Caldas and Empresa de Licores de Cundinamarca are the top three
Colombian state distilleries and leading players in the country’s spirits
market. The leading players in Columbian spirits industry are Fabrica de
Licores de Antioquia, Empresa de Licores de Cundinamarca sa, Industria Licorera
De Caldas, Diageo plc, Pernod Ricard SA, Aguardiente Llanero, Bacardi Limited,
Coloma Ltda, Sabajon Apolo S. A. and William Grant & Sons Ltd. Antioqueno
Aguardiente, Aguardiente Nectar and Aguardiente Cristal are the leading brands
within Columbia’s spirits industry.
Every country’s spirits industry is a decentralized
industry because of the regulations that are imposed. All the spirits
industries standardize and simplify their systems as efficiently and
effectively as possible. It was observed that there is a decline in spirits
industry due to tax reforms that caused increased beverage prices. Columbia’s economic
deceleration and tax increase has led to a huge demand for niche spirits such
as tequila, gin, bourbon and single malt Scotch whisky. Millennials increasing
demand for gin and tequila versatile in the preparation of cocktails and gin is
mixed with different herbs and spices to create unique drinks has boosted the
introduction of new brands driving the market for cocktails.
Consumers changing preferences towards more
sophisticated spirits and tax imposed on various spirits has led to decrease in
consumption and purchase power in Columbia. The market for imported spirits has
witnessed a steady growth over the recent years compared to Columbian state
distilleries amid of decelerating economic conditions and budget restrictions. Colombians
demand for refined alcoholic drinks, which promotes the demand for imported
premium brands. Increase in consumer’s spending limit, demand for premium
brands and innovative marketing on social media will drive the Columbian
spirits market towards excellent growth over the next few years.
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