Cambodia Beer Market: is Projected to Surpass US$ 2,232.5 Million by 2032 | Astute Analytica

The Cambodia beer market has witnessed remarkable growth in recent years, driven by changing consumer preferences, economic progress, and increasing international influence. In 2023, the market was valued at US$ 1,059.8 million and is projected to surpass US$ 2,232.5 million by 2032, expanding at a CAGR of 9.03% during the forecast period from 2024 to 2032. This upward trajectory underscores the rising popularity of beer in the country and its increasing significance in the broader Southeast Asian market.

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Market Expansion and Consumption Trends

Cambodia's beer industry has undergone a significant transformation, fueled by a surge in demand for both mainstream and craft beers. With per capita beer consumption reaching an all-time high of 57.3 liters in 2021, the country showcases a strong beer-drinking culture. In 2023 alone, beer consumption was estimated at 641 million liters, and this figure is expected to grow steadily at a CAGR of 6.49% in the coming years. The industry is not only thriving domestically but is also strengthening its international presence, with beer exports reaching $1.12 million in 2022 to key markets such as Singapore, China, France, the USA, and Vietnam. Simultaneously, beer imports stood at $15.6 million, with significant supply from Thailand, Vietnam, China, Japan, and Mexico.

Dominance of Key Players and Craft Beer Expansion

Major players such as Cambrew, Heineken, and Carlsberg continue to dominate the Cambodian beer landscape, with Cambrew's Angkor Beer leading the market. Alongside these industry giants, the craft beer segment has experienced rapid growth over the past decade. Approximately 20 craft beer or cider producers are currently shaping this niche sector, including Prince Brewery, Hops, Cerevisia Craft Brewery, and Stone Head Brewery. Notably, Prince Brewing has emerged as a major contender, investing in long-life bottling facilities and emphasizing premium-quality beer offerings to cater to a sophisticated, quality-conscious consumer base. The rise of craft beer highlights the evolving preferences of Cambodian beer consumers, who are now exploring more diverse and innovative flavors.

Market Drivers and Opportunities

Growing International Influence and Investment

A significant factor fueling Cambodia's beer market is the increasing international presence of global beer brands. These companies bring new brewing techniques, innovative marketing strategies, and diverse beer varieties, contributing to a more competitive and dynamic market. The infusion of international expertise has prompted local breweries to innovate and enhance their products, leading to improved quality and a wider selection of beer styles. With the market expected to generate over $2.1 billion by 2032, the economic impact of international involvement is profound, boosting the local industry's competitiveness and global reach.

Health Consciousness and Changing Preferences

A notable trend reshaping the Cambodian beer market is the growing health consciousness among consumers. Many are now seeking low-alcohol and non-alcoholic beer alternatives, reflecting a broader shift toward wellness-oriented lifestyles. In response, breweries are diversifying their portfolios to include organic beers, light beers, and options with natural ingredients, aligning with the rising demand for healthier drinking choices. This trend presents a substantial opportunity for both existing and new market players to introduce innovative products that cater to evolving consumer habits.

Expanding Middle-Income Population Driving Demand

As Cambodia progresses toward middle-income status by 2030, the population's increasing disposable income is fueling greater spending on lifestyle and leisure activities, including beer consumption. In 2015, the market was valued at $500 million, and it is projected to more than quadruple to $2.1 billion by 2032. The expanding middle class is not only driving higher consumption but also fostering demand for premium and craft beer varieties, accelerating market diversification and premiumization.

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Segmental Analysis

By Type: Lager Beer Leading the Market

The lager beer segment remains the dominant force in Cambodia's beer industry, generating $672.47 million in revenue in 2023. Lagers are widely preferred due to their crisp, refreshing taste, making them well-suited to Cambodia's warm climate. This segment is expected to grow at a CAGR of 8.54% over the forecast period, driven by increased consumer interest in exploring different beer varieties and a surge in promotional efforts by key market players.

By Packaging Type: Bottles Maintain Market Supremacy

Glass bottles remain the preferred packaging format, accounting for $476.20 million in revenue in 2023. The preference for bottled beer stems from its superior preservation qualities, recyclability, and premium appeal. With projected growth at a CAGR of 8.46%, bottles will continue to dominate the market, especially among premium and craft beer brands that emphasize quality and brand differentiation.

By Brewery Type: Macro Breweries Leading the Industry

The macro brewery segment continues to command a major share of Cambodia's beer market, generating $669.18 million in revenue in 2023. With their extensive distribution networks and mass production capabilities, macro breweries ensure a consistent supply of popular beer brands. The segment is expected to grow at a CAGR of 6.69%, supported by rising urbanization, a growing consumer base, and increasing brand loyalty.

Top Players in Cambodia Beer Market

• Anheuser-Busch InBev
• Carlsberg Breweries A/S
• Heineken International B.V.
• Khmer Beverages
• Molson Coors Beverage Company
• The Boston Beer Company Inc.
• The Brewerkz Company
• Cambrew Ltd.
• Vattanac Brewery
• Other Prominent players

Market Segmentation Overview:

By Type

• Lager
• Ale
• Stout
• Wheat
• Others

By Packaging Type

• Bottle
• Can
• PET

By Brewing Type

• Macro Brewery
• Micro Brewery
• Craft Brewery

By Distribution Channel

• Online
• Offline

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Future Outlook and Conclusion

The Cambodian beer market is poised for substantial growth and transformation in the coming years. The combination of international investments, evolving consumer preferences, and economic expansion is creating a highly competitive and lucrative industry. With the rise of craft beer culture, increased health consciousness, and a booming middle class, the market is diversifying rapidly. Companies that embrace innovation, strategic branding, and premiumization are likely to thrive in this evolving landscape. As Cambodia cements its position as a significant player in the regional beer market, the industry presents exciting opportunities for investors, brewers, and stakeholders looking to capitalize on its robust growth trajectory.

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This release was published on openPR.