Colombia: Soft Drink Market 2024

Soft Drink Market Size in Colombia

After four years of growth, the Colombian soft drink market decreased by -0.6% to $X in 2021. The market value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the peak level at $X in 2020, and then contracted modestly in the following year.

Soft Drink Production in Colombia

In value terms, soft drink production reduced slightly to $X in 2021 estimated in export price. Overall, production continues to indicate a slight expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 14% against the previous year. Soft drink production peaked at $X in 2020, and then dropped slightly in the following year.

Soft Drink Exports

Exports from Colombia

In 2021, the amount of soft drinks exported from Colombia rose notably to X litres, surging by 14% compared with 2020. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 68%. The exports peaked at X litres in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, soft drink exports surged to $X in 2021. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 88% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Ecuador (X litres), the United States (X litres) and Spain (X litres) were the main destinations of soft drink exports from Colombia, with a combined 66% share of total exports. These countries were followed by Panama, Chile, Costa Rica and Aruba, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +104.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Ecuador ($X) and Spain ($X) constituted the largest markets for soft drink exported from Colombia worldwide, together comprising 66% of total exports. Chile, Panama, Aruba and Costa Rica lagged somewhat behind, together accounting for a further 20%.

In terms of the main countries of destination, Costa Rica, with a CAGR of +93.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average soft drink export price amounted to $X per litre, surging by 6.7% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 12%. The export price peaked at $X per litre in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Aruba ($X per litre), while the average price for exports to Panama ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+1.0%), while the prices for the other major destinations experienced more modest paces of growth.

Soft Drink Imports

Imports into Colombia

In 2021, overseas purchases of soft drinks were finally on the rise to reach X litres after two years of decline. In general, imports saw resilient growth. The pace of growth appeared the most rapid in 2013 when imports increased by 96%. Imports peaked at X litres in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, soft drink imports surged to $X in 2021. Overall, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 63%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X litres) constituted the largest soft drink supplier to Colombia, accounting for a 50% share of total imports. Moreover, soft drink imports from the United States exceeded the figures recorded by the second-largest supplier, Austria (X litres), threefold. The third position in this ranking was held by Mexico (X litres), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+3.1% per year) and Mexico (+17.7% per year).

In value terms, the United States ($X) constituted the largest supplier of soft drink to Colombia, comprising 49% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by Austria, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +26.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+33.5% per year) and Austria (-3.4% per year).

Import Prices by Country

In 2021, the average soft drink import price amounted to $X per litre, picking up by 4.4% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 20%. The import price peaked at $X per litre in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per litre), while the price for El Salvador ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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