Colombia Plant-based Food Market Research Report, 2028

There has been a noticeable increase in awareness among Colombians about the health, environmental, and ethical benefits of plant-based diets. Many people are becoming more conscious of their food choices and are seeking plant-based alternatives to incorporate into their meals. Colombian cuisine has a rich variety of plant-based dishes that have been enjoyed for generations. Traditional Colombian plant-based foods include dishes made with beans, lentils, corn, plantains, yuca, and a wide array of tropical fruits and vegetables. As urbanisation continues in Colombia, the influence of global food trends, including the rise of plant-based diets, is becoming more prominent. Urban centres are witnessing the opening of plant-based restaurants and cafes, and international plant-based food brands are also gaining popularity. Many Colombians are adopting flexitarian or reducetarian lifestyles, where they choose to incorporate more plant-based meals into their diets while occasionally consuming animal-based products. This approach allows for a gradual shift towards plant-based eating without completely eliminating meat and dairy. The growth of plant-based restaurants and cafes in Colombia's major cities, such as Bogotá, Medellin, and Cali, indicates an increasing demand for plant-based dining options. These establishments cater to both plant-based eaters and those curious about trying plant-based foods. According to the research report "Colombia Plant-Based Food Market Research Report, 2028," published by Actual Market Research, the Colombia plant-based food market is projected to reach a market size of above USD 521 Million by 2028. Colombia's diverse ecosystems and rich biodiversity have led to heightened environmental consciousness among the population. Consumers are recognising the environmental impact of animal agriculture and are choosing plant-based diets as a more sustainable and eco-friendly option. Furthermore, Concerns about animal welfare and the ethical treatment of animals have led many Colombians to explore plant-based diets. Adopting plant-based eating habits allows individuals to align their food choices with their values and promote cruelty-free practises. Products types includes the Plant-based Meat and Seafood, Plant-based Cheese, Plant-based Desserts, Plant-based Ice Cream, Plant-based Yoghurt, Plant-based Butter, Plant-based Bars, Plant-based Bakery Snacks and Confectionery, Plant-based Creamer, Plant Based Mayonnaise and Salad Dressing and other. In Colombia, plant-based Desserts have the second-highest market share. Colombia has seen an increasing interest in health and wellness, with consumers becoming more conscious of their dietary choices. Plant-based desserts are often perceived as healthier alternatives to traditional desserts that are typically high in refined sugars, saturated fats, and calories. The presence of vegan and vegetarian communities in Colombia has been growing, with many individuals seeking plant-based alternatives for ethical, environmental, and health reasons. These communities often prefer plant-based desserts that align with their dietary choices. Colombia is known for its abundant variety of tropical fruits, and fruit-based desserts are quite popular. Dishes like "salpicon," a fruit salad made with chopped fruits, and "arroz con coco," a coconut rice pudding with fruit toppings, are commonly enjoyed as plant-based desserts. Further, coconut is a versatile ingredient in Colombian cuisine, and many traditional desserts incorporate coconut milk or shredded coconut. Plant-based coconut flan, coconut popsicles, and coconut-based rice pudding are among the favourites. Plant-based cakes, muffins, and pastries are gaining popularity, with bakeries and cafes offering vegan options made without animal-based ingredients like eggs and butter. In Colombia, there are many trade shows and events that are held annually, including ExpoVegana, a major vegan expo held in Colombia that showcases a wide range of plant-based and vegan products, including food. The event features exhibitors, workshops, cooking demonstrations, and talks focused on plant-based living and sustainability. Feria Verde is a well-known organic and sustainable market held in Bogotá, Colombia. The market often features plant-based food vendors offering a variety of vegan and vegetarian options. Further Veggie Fest is a vegan food and lifestyle festival that takes place in different cities across Colombia. The festival includes food stalls, educational talks, workshops, and entertainment, all centred on plant-based living. Colombian cities frequently host culinary festivals and food events where plant-based options are increasingly becoming part of the offerings.

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Distribution channels include hypermarkets and Supermarkets, Convenience Stores, E-commerce, and others. In Colombia, e-commerce will lead at the highest growth rate during the forecast period. Colombia has seen a rise in internet penetration and smartphone usage, allowing more consumers to access e-commerce platforms easily. As internet connectivity expands, more people are likely to turn to online shopping for their plant-based food needs. The COVID-19 pandemic accelerated the adoption of e-commerce as people turned to online shopping to maintain social distance and minimise in-person interactions. This shift has likely continued even after the pandemic, benefiting the e-commerce sector, including the plant-based food market. There are several online stores that offer plant-based foods in the Colombian market: Mercado Libre, Rappe, Exito, Domicilios.com, and many more. Considered in this report • Geography: Colombia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Colombia Plant-based Food with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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Kripa Shah

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By Product Type • Plant-based Milk • Plant-based Meat and Seafood (Tofu, Quorn, Seitan, Fish, TVP, Burger Patties, Tempeh, Hot Dogs and Sausages, Meatballs, Ground Meat, Nuggets, Crumbles, Shreds, Crab, shrimp, Others) • Plant-based Cheese • Plant-based Desserts (Cakes, Pastries, Custard, Pudding, etc.) • Plant-based Ice Cream • Plant-based Yogurt • Plant-based Butter • Plant-based Bars (Protein Bars, Energy Bars, Cereal Bars, Fruit & Nut Bars, etc.) • Plant-based Bakery Snacks and Confectionery (Biscuit and Cookies, Bread and Rolls, Chocolate, etc.) • Plant-based Creamer • Plant Based Mayonnaise and Salad Dressing • Others By Distribution Channel • Hypermarkets and Supermarkets • Convenience Stores • E-Commerce • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

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Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organisations related to the Plant-based Food industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.