Cafés/Bars in Colombia Euromonitor International March 2021 CAFÉS/BARS IN COLOMBIA LIST OF CONTENTS AND TABLES KEY DATA FINDINGS.................................................................................................................. 1 2020 IMPACT ............................................................................................................................... 1 Bars are hit hard as six-month closures are followed by limiting restrictions ............................ 1 Delivery services from coffee specialist have low-level appeal during COVID-19 .................... 1 Tostao' Pan & Café takes the lead from Juan Valdez in A highly fragmented competitive landscape ................................................................................................................................. 2 RECOVERY AND OPPORTUNITIES .......................................................................................... 2 Recovery benefits from outdoor spaces, as consumers remain wary of COVID-19 ................. 2 A demand for medium quality coffee at an affordable price-point boosts sales ........................ 2 Breweries and cafés expand the sale of retail goods across the forecast period ..................... 2 CATEGORY DATA ....................................................................................................................... 3 Table 1 Table 2 Table 3 Table 4 Table 5 Table 6 Table 7 Table 8 Table 9 Table 10 Table 11 Table 12 Table 13 Table 14 Cafés/Bars by Category: Units/Outlets 2015-2020 ....................................... 3 Sales in Cafés/Bars by Category: Number of Transactions 2015-2020 ....... 3 Sales in Cafés/Bars by Category: Foodservice Value 2015-2020 ................ 4 Cafés/Bars by Category: % Units/Outlets Growth 2015-2020 ...................... 4 Sales in Cafés/Bars by Category: % Transaction Growth 2015-2020 .......... 4 Sales in Cafés/Bars by Category: % Foodservice Value Growth 20152020 ............................................................................................................. 5 GBO Company Shares in Chained Cafés/Bars: % Foodservice Value 2016-2020 .................................................................................................... 5 GBN Brand Shares in Chained Cafés/Bars: % Foodservice Value 2017-2020 .................................................................................................... 6 Forecast Cafés/Bars by Category: Units/Outlets 2020-2025 ........................ 6 Forecast Sales in Cafés/Bars by Category: Number of Transactions 2020-2025 .................................................................................................... 7 Forecast Sales in Cafés/Bars by Category: Foodservice Value 20202025 ............................................................................................................. 7 Forecast Cafés/Bars by Category: % Units/Outlets Growth 2020-2025 ....... 8 Forecast Sales in Cafés/Bars by Category: % Transaction Growth 2020-2025 .................................................................................................... 8 Forecast Sales in Cafés/Bars by Category: % Foodservice Value Growth 2020-2025 ....................................................................................... 9 © Euromonitor International Passport i CAFÉS/BARS IN COLOMBIA CAFÉS/BARS IN COLOMBIA KEY DATA FINDINGS ▪ COVID-19 leads to closures and restrictive rules following openings, limited sales for smaller venues across 2020 ▪ Cafés/bars sees a 56% current value decline and a 57% decrease in volume transactions in 2020, along with 17% decline in outlet numbers, to reach COP2.2 trillion and 34,184 outlets ▪ Chained juice/smoothie bars sees the weakest current value decline of 41% in 2020, to reach COP55.6 billion ▪ BBI Colombia SAS remains the leading player in cafés/bars with a 7% value share in 2020 ▪ Cafés/bars is expected to see a current value CAGR of 25% (21% 2020 constant value CAGR) over the forecast period, to reach COP6.6 trillion in 2025, with a 6% CAGR in terms of outlet numbers, to reach 44,727 outlets 2020 IMPACT Bars are hit hard as six-month closures are followed by limiting restrictions Bars have been one of the subsectors hardest hit by the pandemic in 2020. Following a sixmonth closure, bars were permitted to reopen in September. However, due to the size of these venues, many were unable to align to COVID-19 restrictions, and about 15% of bars closed in the country. Public order problems, such as protests against the police and marches against the government, meant that in areas such as Bogotá, dry law days were implemented. This made it difficult for bars to reactivate their businesses. In addition, the opening protocol included the prohibition of dancing within the establishments, which impacted many bars, especially those whose main offering was of a dance venue. Delivery services from coffee specialist have low-level appeal during COVID-19 As a response to the outbreak of COVID-19, coffee specialist turned to offer deliveries during the lockdown period. Although this allowed them to continue trading with zero contact, due to the nature of the product, with hot beverages required, consumption through delivery was low. As venues reopened, many focused on takeaways to enable easy social distancing, and this boosted sales during this time, with an increase in indulgent consumption that Colombians could not recreate within the home. Financially stronger companies, such as Juan Valdez and Starbucks, faired the best throughout 2020 and have even opened new outlets during the crisis. However, Tostao, which in other years recorded an important performance, entered into bankruptcy and restructuring law, as its expansion plans were impacted by the pandemic, causing it to close nearly 100 venues. Many smaller coffee shops have remained in the competitive landscape throughout 2020, although some have had to close. © Euromonitor International Passport 1 CAFÉS/BARS IN COLOMBIA Tostao' Pan & Café takes the lead from Juan Valdez in A highly fragmented competitive landscape Procafecol, the owner of the flagship Colombian coffee brand Juan Valdez, moved to second place in 2020, with Tostao' Pan & Café considerably boosting its share to take the lead of the landscape. Despite appearing similar, Tostao' Pan & Café benefits from offering additional products such as bread, as well as focusing on sales of coffee. Unlike Juan Valdez, Tostao' Pan & Café does not have small coffee bars that are spread widely across many locations, including semi-captive and non-captive lodging, travel and retail spaces in major cities. As such, Juan Valdez's faced many difficulties in 2020, with the slowdown in domestic and international tourism impacting sales in these locations. In addition, Tostao' Pan & Café has been increasingly making inroads on Juan Valdez's territory, expanding its coffee options and launching a new sub-brand, Tostao' Estación. This competes with the larger Juan Valdez outlets. As consumers have become more price-sensitive, Juan Valdez plans to launch new formats which focus on attracting younger consumers to the channel, such as takeaway and vending. RECOVERY AND OPPORTUNITIES Recovery benefits from outdoor spaces, as consumers remain wary of COVID-19 With the arrival of the COVID-19 pandemic in Colombia, outdoor spaces such as terraces, became a key way for venues to generate a safer offer and service. This trend is set to remain popular across the early forecast period, as consumers continue to be wary of the virus, preferring open-air spaces. This is especially the case as in Q4 of 2020, it was noted that 61% of Colombians remained inside as much as possible, only going out when necessary. Therefore, these outdoor spaces will remain highly appealing in the coming years, with many venues introducing new spaces to entice consumers. However, recovery is set to be positive across the forecast period, aligned to the roll-out of a vaccine and consumers increasing confidence to socialise in public once more. This will lead to double-digit value growth across the next few years, as the landscape recovers from its decline, followed by positive growth that will lead to a value CAGR of 25%. A demand for medium quality coffee at an affordable price-point boosts sales With Tostao's entry into the bankruptcy restructuring law, its expansion will slow down in the coming years. However, quick and convenient daily consumption products at low prices will be an offer that consumers continue to demand over the forecast period. Whether a new competitor with low prices arrives on the market or that players such as Juan Valdez or Oma produce lowcost products for daily consumption, Tostao has created a demand for medium quality coffee at an affordable price-point. Breweries and cafés expand the sale of retail goods across the forecast period Home delivery products with recognised company brands were one of the main strategies that breweries established in 2020 to survive during the pandemic. This was the case for the Bogotá Beer Company, which boosted its retail offering throughout the lockdown period. In addition, smaller brewers also launched their own trade pages online to enhance their revenue. This © Euromonitor International Passport 2 CAFÉS/BARS IN COLOMBIA Passport trend is set to increase across the forecast period, with breweries investing and enhancing upon alternate online channels to sell goods. This will especially be the case for pubs and craft breweries across Colombia. Similarly, many speciality cafés adapted to the outbreak of COVID-19 by improving their portfolio and offerings during 2020. For many, the focus of confectionery products sold wholesale was a strong way to generate further income, and this strategy is set to continue and expand across the coming years. CATEGORY DATA Table 1 Cafés/Bars by Category: Units/Outlets 2015-2020 outlets Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars 2015 2016 2017 2018 2019 2020 23,205 64 23,141 4,180 4,180 554 263 291 2,098 24,615 128 24,487 4,311 4,311 911 565 346 2,289 26,915 180 26,735 4,441 4,441 1,158 770 388 2,577 29,453 213 29,240 4,499 4,499 1,229 798 431 2,766 32,471 229 32,242 4,601 4,601 1,139 666 473 2,960 27,213 162 27,051 3,543 3,543 881 526 355 2,547 678 1,420 1,005 29,032 30,037 819 1,470 1,512 30,614 32,126 1,066 1,511 2,016 33,075 35,091 1,202 1,564 2,213 35,734 37,947 1,336 1,624 2,231 38,940 41,171 1,175 1,372 1,863 32,321 34,184 Source: Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 2 Sales in Cafés/Bars by Category: Number of Transactions 2015-2020 '000 transactions Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars © Euromonitor International 2015 2016 2017 2018 2019 2020 118,528.0 1,874.7 116,653.3 11,711.0 11,711.0 7,575.4 6,586.1 989.3 144,325.4 125,084.5 2,514.6 122,569.9 12,001.0 12,001.0 14,645.9 13,501.9 1,144.0 152,048.1 124,625.4 2,825.4 121,800.0 11,878.1 11,878.1 15,315.3 14,091.3 1,223.9 165,110.0 126,268.9 3,296.2 122,972.7 11,768.6 11,768.6 15,765.3 14,469.8 1,295.5 188,511.1 127,637.6 3,360.3 124,277.3 11,881.9 11,881.9 14,448.9 13,018.9 1,430.0 201,877.3 51,283.7 1,592.7 49,691.0 4,990.0 4,990.0 8,209.7 7,437.5 772.2 90,185.2 47,763.9 96,561.5 56,224.7 225,915.1 282,139.8 54,305.7 97,742.4 70,322.2 233,457.4 303,779.5 67,142.7 97,967.2 84,059.5 232,869.3 316,928.7 87,622.0 100,889.1 105,388.0 236,925.9 342,313.9 98,075.7 103,801.6 114,454.9 241,390.7 355,845.6 46,941.5 43,243.7 55,971.7 98,696.9 154,668.6 3 CAFÉS/BARS IN COLOMBIA Source: Passport Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 3 Sales in Cafés/Bars by Category: Foodservice Value 2015-2020 COP billion Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars Source: 2015 2016 2017 2018 2019 2020 2,753.1 71.1 2,682.1 248.2 248.2 58.2 44.2 14.1 773.3 2,998.5 95.8 2,902.6 270.1 270.1 111.2 94.4 16.8 860.7 3,033.5 108.8 2,924.8 268.7 268.7 119.1 100.4 18.8 976.0 3,140.7 128.7 3,012.0 279.9 279.9 124.1 103.5 20.7 1,158.0 3,380.8 136.9 3,243.9 297.0 297.0 117.8 94.3 23.5 1,323.8 1,388.7 69.1 1,319.6 133.7 133.7 68.7 55.6 13.1 640.2 383.1 390.2 498.3 3,334.5 3,832.8 455.4 405.3 645.7 3,594.8 4,240.5 565.7 410.3 774.8 3,622.5 4,397.3 717.1 441.0 949.3 3,753.5 4,702.7 854.2 469.7 1,085.3 4,034.1 5,119.4 429.1 211.1 553.8 1,677.5 2,231.3 Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 4 Cafés/Bars by Category: % Units/Outlets Growth 2015-2020 % Units/Outlets growth Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars 2019/20 2015-20 CAGR 2015/20 Total -16.2 -29.3 -16.1 -23.0 -23.0 -22.7 -21.0 -24.9 -14.0 -12.1 -15.5 -16.5 -17.0 -17.0 3.2 20.4 3.2 -3.3 -3.3 9.7 14.9 4.1 4.0 11.6 -0.7 13.1 2.2 2.6 17.3 153.1 16.9 -15.2 -15.2 59.0 100.0 22.0 21.4 73.3 -3.4 85.4 11.3 13.8 Source: Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 5 Sales in Cafés/Bars by Category: % Transaction Growth 2015-2020 % transaction growth Bars/Pubs © Euromonitor International 2019/20 2015-20 CAGR 2015/20 Total -59.8 -15.4 -56.7 4 CAFÉS/BARS IN COLOMBIA Passport - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars Source: -52.6 -60.0 -58.0 -58.0 -43.2 -42.9 -46.0 -55.3 -52.1 -58.3 -51.1 -59.1 -56.5 -3.2 -15.7 -15.7 -15.7 1.6 2.5 -4.8 -9.0 -0.3 -14.8 -0.1 -15.3 -11.3 -15.0 -57.4 -57.4 -57.4 8.4 12.9 -21.9 -37.5 -1.7 -55.2 -0.5 -56.3 -45.2 Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 6 Sales in Cafés/Bars by Category: % Foodservice Value Growth 2015-2020 % value growth Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars Source: 2019/20 2015-20 CAGR 2015/20 Total -58.9 -49.5 -59.3 -55.0 -55.0 -41.7 -41.0 -44.2 -51.6 -49.8 -55.0 -49.0 -58.4 -56.4 -12.8 -0.6 -13.2 -11.6 -11.6 3.4 4.7 -1.4 -3.7 2.3 -11.6 2.1 -12.8 -10.3 -49.6 -2.8 -50.8 -46.1 -46.1 17.9 25.8 -6.8 -17.2 12.0 -45.9 11.1 -49.7 -41.8 Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 7 2020 GBO Company Shares in Chained Cafés/Bars: % Foodservice Value 2016- % value Company BBI Colombia SAS Federación Nacional de Cafeteros de Colombia Dunkin' Brands Group Inc Cosechas Bebidas Naturales SAS Bogotá Beer Co SA Restcafé SAS Starbucks Corp Café Quindío SAS Grupo Nutresa SA © Euromonitor International 2016 2017 2018 2019 2020 1.2 27.5 11.0 25.0 22.4 21.5 29.3 20.8 28.0 18.1 11.3 14.3 9.4 12.5 8.5 10.5 6.9 8.2 10.2 9.6 10.1 15.1 2.8 2.4 2.3 10.9 14.0 4.0 2.8 1.2 10.0 11.0 4.3 3.1 1.6 9.3 8.6 4.0 3.7 1.8 9.1 7.0 6.2 2.6 1.9 5 CAFÉS/BARS IN COLOMBIA Passport Pivo SAS SERCAFE SA Nativos Bebidas SAS Illycaffè SpA McDonald's Corp Batimix SAS Massimo Zanetti Beverage Group SpA Tostión Colombia Coffee Shops SA Restalia Grupo de Eurorestauracion SL Restcafe OMA SA Others Total Source: 1.7 0.8 0.3 0.3 0.3 0.1 0.1 1.5 0.7 0.4 0.2 0.3 0.1 0.0 1.5 0.6 0.4 0.3 0.3 0.1 - 0.5 0.3 0.3 0.0 - 0.9 0.4 0.3 0.0 - 7.6 100.0 4.5 100.0 3.0 100.0 4.0 100.0 4.1 100.0 GBN Brand Shares in Chained Cafés/Bars: % Foodservice Value 2017-2020 % value Brand Tostao' Pan & Café Juan Valdez Dunkin' Donuts Cosechas Express Bogotá Beer Co Oma Starbucks Café Quindío Beer Station Beer Pub El gualilo Nativos Illy McCafé Batimix Segafredo Café Tostión Cervecería 100 Montaditos Oma Others Total Table 9 1.5 0.9 0.3 0.4 0.4 0.1 0.1 Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 8 Source: 1.6 0.9 0.4 0.5 0.4 0.2 Global Brand Owner 2017 2018 2019 2020 BBI Colombia SAS Federación Nacional de Cafeteros de Colombia Dunkin' Brands Group Inc Cosechas Bebidas Naturales SAS Bogotá Beer Co SA Restcafé SAS Starbucks Corp Café Quindío SAS Grupo Nutresa SA Pivo SAS SERCAFE SA Nativos Bebidas SAS Illycaffè SpA McDonald's Corp Batimix SAS Massimo Zanetti Beverage Group SpA Tostión Colombia Coffee Shops SA Restalia Grupo de Eurorestauracion SL Restcafe OMA SA 11.0 25.0 22.4 21.5 29.3 20.8 28.0 18.1 9.4 12.5 8.5 10.5 6.9 8.2 10.2 9.6 10.9 14.0 4.0 2.8 1.2 1.5 0.9 0.3 0.4 0.4 0.1 0.1 10.0 11.0 4.3 3.1 1.6 1.7 0.8 0.3 0.3 0.3 0.1 0.1 9.3 8.6 4.0 3.7 1.8 1.5 0.7 0.4 0.2 0.3 0.1 0.0 9.1 7.0 6.2 2.6 1.9 1.5 0.6 0.4 0.3 0.3 0.1 - 0.3 0.3 0.0 - 0.4 0.3 0.0 - 4.5 100.0 3.0 100.0 4.0 100.0 4.1 100.0 2024 2025 Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Forecast Cafés/Bars by Category: Units/Outlets 2020-2025 outlets 2020 © Euromonitor International 2021 2022 2023 6 CAFÉS/BARS IN COLOMBIA Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars Source: Passport 27,213 162 27,051 3,543 3,543 881 526 355 2,547 29,612 181 29,431 4,074 4,074 972 558 414 2,749 31,845 207 31,638 4,563 4,563 1,020 569 451 2,921 33,892 229 33,663 4,709 4,709 1,058 574 484 3,048 34,910 237 34,673 4,827 4,827 1,083 579 504 3,224 35,262 242 35,020 4,923 4,923 1,098 584 514 3,444 1,175 1,372 1,863 32,321 34,184 1,278 1,471 2,017 35,390 37,407 1,364 1,557 2,140 38,209 40,349 1,418 1,630 2,221 40,486 42,707 1,491 1,733 2,307 41,737 44,044 1,599 1,845 2,425 42,302 44,727 Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Table 10 Forecast Sales in Cafés/Bars by Category: Number of Transactions 2020-2025 '000 transactions Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars Source: 2020 2021 2022 2023 2024 2025 51,283.7 1,592.7 49,691.0 4,990.0 4,990.0 8,209.7 7,437.5 772.2 90,185.2 72,709.5 2,205.9 70,503.6 7,812.0 7,812.0 9,531.2 8,553.2 978.0 130,234.4 101,635.2 2,726.5 98,908.7 11,509.0 11,509.0 10,427.1 9,237.4 1,189.7 175,375.3 120,378.6 3,272.1 117,106.6 12,082.0 12,082.0 10,810.0 9,422.2 1,387.8 202,329.2 123,540.8 3,435.7 120,105.2 12,662.0 12,662.0 11,037.6 9,588.0 1,449.6 218,721.7 126,046.7 3,538.8 122,508.0 13,029.5 13,029.5 11,104.4 9,635.9 1,468.4 231,128.7 46,941.5 43,243.7 55,971.7 98,696.9 154,668.6 66,774.2 63,460.2 77,533.3 142,753.8 220,287.1 90,846.3 84,529.0 102,810.3 196,136.4 298,946.7 97,132.9 105,196.3 109,827.1 235,772.7 345,599.8 101,533.0 117,188.7 114,556.7 251,405.4 365,962.1 104,822.7 126,306.0 117,997.4 263,311.9 381,309.2 Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Table 11 Forecast Sales in Cafés/Bars by Category: Foodservice Value 2020-2025 COP billion Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent © Euromonitor International 2020 2021 2022 2023 2024 2025 1,388.7 69.1 1,319.6 133.7 133.7 68.7 55.6 13.1 2,010.2 96.4 1,913.9 206.5 206.5 82.6 65.6 17.0 2,855.6 121.0 2,734.6 304.2 304.2 92.9 71.8 21.1 3,441.3 146.1 3,295.2 319.4 319.4 101.9 77.3 24.6 3,556.3 152.3 3,403.9 337.3 337.3 107.1 81.1 26.0 3,670.6 157.7 3,512.9 346.0 346.0 109.8 83.3 26.5 7 CAFÉS/BARS IN COLOMBIA Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars Source: Table 12 Passport 640.2 925.4 1,296.4 1,434.7 1,563.8 1,645.9 429.1 211.1 553.8 1,677.5 2,231.3 617.9 307.5 779.9 2,444.8 3,224.7 880.0 416.5 1,072.8 3,476.3 4,549.1 942.6 492.1 1,165.9 4,131.3 5,297.2 1,010.5 553.3 1,244.0 4,320.5 5,564.5 1,041.3 604.6 1,282.3 4,490.0 5,772.2 Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Forecast Cafés/Bars by Category: % Units/Outlets Growth 2020-2025 % Units/Outlets growth Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars Source: Table 13 2020/2021 2020-25 CAGR 2020/25 Total 8.8 11.7 8.8 15.0 15.0 10.3 6.1 16.6 7.9 8.8 7.2 8.3 9.5 9.4 5.3 8.4 5.3 6.8 6.8 4.5 2.1 7.7 6.2 6.4 6.1 5.4 5.5 5.5 29.6 49.4 29.5 39.0 39.0 24.6 11.0 44.8 35.2 36.1 34.5 30.2 30.9 30.8 Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Forecast Sales in Cafés/Bars by Category: % Transaction Growth 2020-2025 % transaction growth Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars Source: 2020/2021 2020-25 CAGR 2020/25 Total 41.8 38.5 41.9 56.6 56.6 16.1 15.0 26.6 44.4 42.3 46.8 38.5 44.6 42.4 19.7 17.3 19.8 21.2 21.2 6.2 5.3 13.7 20.7 17.4 23.9 16.1 21.7 19.8 145.8 122.2 146.5 161.1 161.1 35.3 29.6 90.2 156.3 123.3 192.1 110.8 166.8 146.5 Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources © Euromonitor International 8 CAFÉS/BARS IN COLOMBIA Table 14 2025 Passport Forecast Sales in Cafés/Bars by Category: % Foodservice Value Growth 2020- % value growth Bars/Pubs - Chained - Independent Cafés - Chained - Independent Juice/Smoothie Bars - Chained - Independent Specialist Coffee and Tea Shops - Chained - Independent Chained Cafés/Bars Independent Cafés/Bars Cafés/Bars Source: 2020/2021 2020-25 CAGR 2020/25 Total 44.8 39.5 45.0 54.5 54.5 20.2 18.0 29.7 44.5 44.0 45.6 40.8 45.7 44.5 21.5 17.9 21.6 21.0 21.0 9.8 8.4 15.1 20.8 19.4 23.4 18.3 21.8 20.9 164.3 128.3 166.2 158.9 158.9 59.8 49.9 101.8 157.1 142.7 186.4 131.5 167.7 158.7 Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources © Euromonitor International 9