Wine Market Overview in Colombia
In value terms, wine production stood at $40M in 2010 estimated in export prices. In general, the total output indicated a resilient increase from 2007 to 2010: its value increased at an average annual rate of +4.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2010 figures, wine production increased by +52.7% against 2007 indices. The pace of growth appeared the most rapid in 2010 when production volume increased by 21% against the previous year. In that year, wine production reached its peak level and is likely to continue its growth in the immediate term.
The revenue of the wine market in Colombia amounted to $64M in 2010, jumping by 7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +8.1% from 2007 to 2010; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2008 with an increase of 12% year-to-year. Wine consumption peaked in 2010 and is expected to retain its growth in the immediate term.