Market Insights Consumer Alcoholic Drinks

Spirits - Cambodia

Cambodia

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$107.0m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$20.9m in 2024.
Revenue, combined amounts to US$127.9m in 2024.
The revenue, at home is expected to grow annually by 5.37% (CAGR 2024-2028).
In global comparison, most revenue, at home is generated in China (US$150,400m in 2024).
In relation to total population figures, the average revenue per capita, at home of US$6.25 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 11.2m L by 2024.
Volume, out-of-home is expected to amount to 1,443.0k L in 2024.
Volume, combined is expected to amount to 12.7m L in 2024.
The Spirits market is expected to show a volume growth, at home of 2.1% in 2025.
The average volume per person, at home in the Spirits market is expected to amount to 0.66L in 2024.

Key regions: Australia, Singapore, India, Worldwide, United States

Definition:

The Spirits market includes alcoholic beverages that have been produced through the distillation of wine, fermented fruits, or grains. Due to the distillation process, the alcohol content of spirits is much higher than that of most wines and beers, typically ranging from 20% to 50% alcohol by volume (ABV).

Structure:

The Spirits market is divided into 8 markets:

The Whisky market encompasses spirits on a grain basis that have been aged in wooden casks for a duration of at least three years.
The Vodka market encompasses spirits based on grain and/or potatoes.
The Rum market encompasses spirits based on sugar cane.
The Gin market encompasses spirits based on juniper berries.
The Brandy market encompasses spirits based on fermented fruit juice.
The Tequila market encompasses spirits made primarily from the blue agave plant (Agave tequilana) in Mexico.
The Soju market encompasses the Korean distilled beverage, Soju, which is traditionally made from rice, barley, or sweet potatoes.
The Liqueurs & Other Spirits market encompasses all other spirits not previously mentioned as well as Ready-to-Drink (RTD) cocktails.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Diageo (e.g., Johnnie Walker, Smirnoff, and Tanqueray), Pernod Ricard, and Kweichow Moutai.

Market

Region

Region comparison

Currency

Analyst Opinion

The Spirits market in Cambodia has been experiencing significant growth in recent years.

Customer preferences: Cambodian consumers have shown a growing interest in spirits, particularly premium and imported brands. This can be attributed to the increasing disposable income and changing lifestyles of the population. As more Cambodians are able to afford higher quality spirits, they are seeking out premium options that offer a unique and sophisticated drinking experience. Additionally, the younger generation in Cambodia is becoming more adventurous in their drinking choices, opting for spirits that are trendy and innovative.

Trends in the market: One of the key trends in the Spirits market in Cambodia is the rising popularity of whisky. Whisky has gained a strong following among Cambodian consumers, who appreciate its rich flavors and the prestige associated with the drink. This trend can be attributed to the growing influence of Western culture and the desire to be seen as sophisticated and cosmopolitan. As a result, whisky sales have been steadily increasing, with both domestic and imported brands catering to the demand. Another trend in the market is the growing demand for craft spirits. Cambodian consumers are becoming more discerning and are seeking out unique and artisanal spirits that offer a different drinking experience. Craft spirits are often produced in small batches and are known for their high quality and attention to detail. This trend aligns with the global movement towards craft products and the desire for authenticity and uniqueness.

Local special circumstances: Cambodia's tourism industry has been a major driver of growth in the Spirits market. The country has seen a significant increase in international visitors in recent years, who are often interested in trying local spirits and experiencing the local drinking culture. This has created opportunities for local distilleries and has also led to an increase in the availability of imported spirits in the market.

Underlying macroeconomic factors: The strong economic growth in Cambodia has played a significant role in the development of the Spirits market. As the country's economy continues to expand, more Cambodians have been able to afford higher quality spirits and are willing to spend more on premium options. Additionally, the growing middle class in Cambodia has led to an increase in discretionary spending, including on luxury goods such as spirits. In conclusion, the Spirits market in Cambodia is experiencing growth due to changing consumer preferences, including a growing interest in premium and imported brands, the rising popularity of whisky, and the demand for craft spirits. The country's tourism industry and strong macroeconomic factors have also contributed to the market's development. As Cambodian consumers continue to seek out unique and high-quality spirits, the market is expected to continue its upward trajectory.

Methodology

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 alcoholic beverages, 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 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.