Colombia: Wine Market 2024

Wine Market Size in Colombia

For the fifth consecutive year, the Colombian wine market recorded growth in sales value, which increased by X% to $X in 2022. Overall, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wine Exports

Exports from Colombia

In 2022, shipments abroad of wine and grape must was finally on the rise to reach X litres for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a mild slump. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of X litres. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, wine exports declined to $X in 2022. Over the period under review, exports, however, continue to indicate a sharp slump. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X litres) was the main destination for wine exports from Colombia, with a X% share of total exports. It was followed by Panama (X litres), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Aruba (X% per year).

In value terms, China ($X) emerged as the key foreign market for wine and grape must exports from Colombia, comprising X% of total exports. The second position in the ranking was held by Panama ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Aruba (X% per year).

Export Prices by Country

In 2022, the average wine export price amounted to $X per litre, shrinking by X% against the previous year. Over the period under review, the export price faced a significant decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per litre in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (X%), while the prices for the other major destinations experienced a decline.

Wine Imports

Imports into Colombia

In 2022, wine imports into Colombia surged to X litres, rising by X% against 2021 figures. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wine imports soared to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Chile (X litres) constituted the largest wine supplier to Colombia, with a X% share of total imports. Moreover, wine imports from Chile exceeded the figures recorded by the second-largest supplier, Argentina (X litres), threefold. The third position in this ranking was taken by Spain (X litres), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Chile totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Spain (X% per year).

In value terms, Chile ($X) constituted the largest supplier of wine and grape must to Colombia, comprising X% of total imports. The second position in the ranking was taken by Argentina ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Spain (X% per year).

Import Prices by Country

In 2022, the average wine import price amounted to $X per litre, with an increase of X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per litre; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per litre), while the price for Chile ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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