The Colombia market accounts for nearly 10% of the Latin American rum market size. The market registered a compound annual growth rate (CAGR) of 0.9% during 2017-22 and 6% growth over 2021. According to GlobalData’s deep-dive analysis report, Colombia rum market databook, dark rum accounted for a notable share of 86% among various rum segments in the market in 2022, followed by light rum. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
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According to GlobalData’s company and brand analysis, Industria Licorera De Caldas, Fabrica de Licores de Antioquia and Bacardi held significant shares in the Colombia rum market in 2022. Concurrently, ron viejo de caldas, Ron medellin and Bacardi led in terms of brand market share. Industria Licorera De Caldas had the leading market share by volume in 2022. Companies operating in the Colombia rum market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that on trade were the key channel of purchase for rum, along with food & drinks specialists. Also, hypermarkets & supermarkets recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
On trade constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. Food & drinks specialists was the next preferred channel in the Colombia market.
Among the top Latin American markets, Colombia accounted for the highest volume share in 2022, followed by Peru, Chile, Mexico, Brazil, and Argentina.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the rum category and market forecast to 2027, buy the report here.
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