Bottled Water - Colombia

The Bottled Water market in Colombia has experienced significant growth in recent years, driven by changing consumer preferences and local special circumstances.

Customer preferences: Colombian consumers are increasingly opting for bottled water as their beverage of choice due to its convenience, safety, and perceived health benefits. With concerns about water quality and contamination, many consumers are turning to bottled water as a safer alternative. Additionally, the rising popularity of fitness and wellness trends has led to an increased demand for healthy and hydrating beverages, further driving the growth of the bottled water market in Colombia.

Trends in the market: One of the key trends in the bottled water market in Colombia is the shift towards premium and value-added products. Consumers are willing to pay a premium for bottled water that offers additional benefits such as enhanced flavors, electrolytes, or vitamins. This trend is driven by a desire for more functional and personalized beverages. As a result, companies in the market are introducing innovative products to cater to these changing consumer preferences. Another trend in the market is the increasing popularity of eco-friendly packaging. Colombian consumers are becoming more conscious of environmental issues and are actively seeking products with sustainable packaging. This has led to the introduction of bottled water brands that use recyclable materials or promote recycling initiatives. Companies that prioritize sustainability are gaining a competitive advantage in the market.

Local special circumstances: Colombia's geography and climate contribute to the growth of the bottled water market. The country has a diverse landscape with mountainous regions and tropical rainforests, which can make access to clean and safe drinking water challenging in certain areas. Additionally, the high temperatures and humidity in many parts of Colombia make bottled water a necessary and refreshing beverage choice for consumers.

Underlying macroeconomic factors: Colombia's growing economy and increasing disposable incomes have also played a role in the development of the bottled water market. As consumers have more purchasing power, they are able to afford bottled water as a regular part of their daily consumption. Additionally, urbanization and changing lifestyles have led to a shift towards convenience and on-the-go consumption, further driving the demand for bottled water. In conclusion, the Bottled Water market in Colombia is experiencing growth due to changing consumer preferences, including a desire for convenience, safety, and health benefits. The market is also influenced by local special circumstances such as geography and climate. Additionally, macroeconomic factors such as a growing economy and increasing disposable incomes have contributed to the development of the market.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.