Cambodia Beer Market to Gain Momentum to Reach Valuation of USD 2,232.5 Million By 2032 | Astute Analytica

Cambodia’s beer demand is driven by a growing middle class, urbanization, and a vibrant tourism industry. While traditional lager beers dominate, there is an emerging trend towards craft and premium offerings. However, the market faces challenges such as intense competition, limited distribution networks, and the need for consumer education to appreciate diverse beer styles and justify higher price points.

New Delhi, June 10, 2024 (GLOBE NEWSWIRE) — According to the latest research by Astute Analytica, the Cambodia beer market is estimated to attain a valuation of US$ 2,232.5 million by 2032, up from US$ 1,059.8 million in 2023, at a CAGR of 9.03% during the forecast period 2024–2032.

The beer market in Cambodia has been experiencing significant growth, driven by changing consumer preferences and economic factors. Cambodian consumers are increasingly favoring locally produced and craft beers, reflecting a desire for unique, high-quality products and a sense of national pride. The craft beer industry, in particular, has seen rapid growth, with popular styles such as IPAs, Stouts, and Ambers becoming more common. Notable local brewers include Riel Brewing, Flowers Microbrewery, and Cerevisia, which offer a wide selection of beers, including experimental and seasonal batches.

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Per capita alcohol consumption in Cambodia has increased significantly over the years, rising from 2.6 liters per annum in 2005 to approximately 6.6 liters per annum in 2018. This statistic reflects the recorded consumption from production, import, export, and sales data. Local brands such as Angkor beer are very popular among Cambodian consumers, alongside other widely available brands like Anchor, Singha, Tiger, and various European brands like Heineken and Carlsberg. The market also features a range of craft beers, with establishments like Embargo in Phnom Penh offering a diverse selection of both local and international beers.

The beer market’s growth is influenced by economic factors such as retail prices and export trends. For instance, the export price of beer from Cambodia was $0.95 per kilogram in 2021, the highest in the last five years. The retail price range for Cambodian beer is between $0.66 and $1.36 per kilogram. Despite the growth, the industry faces challenges such as high taxes on beverages. However, these challenges present opportunities for businesses willing to innovate and meet the evolving needs of Cambodian consumers. The increasing per capita consumption and the popularity of both local and international brands highlight the market’s potential for further growth and development.

Key Findings in Cambodia Beer Market

Market Forecast (2032) US$ 2,232.5 Million
CAGR 9.03%
By Type Larger (63.45%)
By Packaging Type Bottle (44.93%)
By Brewery Type Macro Brewery (63.14%)
By Distribution Channel Offline (55.65%)
Top Trends
  • Growing preference for locally produced and craft beers among Cambodian consumers
  • Increasing demand for premium and imported beer brands, driven by rising disposable incomes
  • Expansion of the craft beer scene, with innovative flavors and styles gaining popularity
Top Drivers
  • Changing consumer preferences towards higher-quality and unique beer experiences
  • Influence of tourism on the beer market, with visitors seeking to try local and craft beers
  • Favorable regulatory environment, with government initiatives supporting the growth of the beer industry
Top Challenges
  • Convincing traditional beer drinkers to pay higher prices for craft and premium beers
  • Intense competition from established macro breweries with extensive distribution networks and marketing budgets
  • Ensuring consistent quality and supply of raw materials for craft breweries in a developing market

Prominent Aspects Shaping the Cambodia Beer Market

  • Recent Trends: In 2024, the per capita beer consumption in Cambodia is estimated to be 57.33 liters, reflecting a slight decrease from the peak consumption of 57.3 liters in 2021. The total beer consumption in the country is projected to be around 951,000 tons in 2024. Despite the slight dip in per capita consumption, the overall market volume continues to grow, driven by increasing population and economic factors.
  • Demographic Patterns: The beer consumption patterns in Cambodia show a significant gender disparity, with men consuming more beer than women. This trend is consistent with global patterns where male consumers generally dominate the alcohol market. Additionally, the market is seeing a rise in the number of craft beer producers, with about 20 notable craft breweries such as Prince Brewery, Hops, Cerevisia Craft Brewery, and Stone Head Brewery leading the market.
  • Popular Beer Brands and Market Trends: Prominent companies in the Cambodian beer market include 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., and Vattanac Brewery. Angkor Beer remains a popular choice among locals, but there is a growing presence of premium and imported beers, reflecting changing consumer preferences.
  • Advertising and Regulation: The beer market in Cambodia is characterized by significant advertising efforts, with a substantial portion of beer consumption occurring in out-of-home settings such as bars and restaurants. In 2023, 54% of spending and 39% of volume consumption in the beer market were attributed to out-of-home consumption. Unlike some neighboring countries, Cambodia has yet to implement stringent regulations on alcohol advertising, which continues to drive market growth.

Golden Brew: Lager Beer Tops Cambodia’s Beverage Charts, Generated Over US$ 672.47 Million in Revenue in 2023

Lager beer’s prevalence in Cambodia beer market can be attributed to a combination of climatic suitability, historical influence, and consumer preference. Lagers are known for their crisp, refreshing taste, which is particularly appealing in Cambodia’s hot and humid climate, where temperatures average around 27°C (80.6°F). The bottom-fermenting yeast used in lagers ferments at cooler temperatures (7-13°C or 45-55°F), resulting in a smoother and more consistent flavor profile. This longer fermentation process, which can take 4-6 weeks, ensures a refined and less fruity taste, making it an ideal choice for the Cambodian palate.

Economic factors also play a significant role in the dominance of lager beer. Globally, lagers account for around 90% of beer consumption, a trend reflected in Cambodia. Major beer brands like Budweiser, Coors Light, and Corona, which together hold significant market shares, are easily available. The cost-effective production process of lagers, combined with the scalability of brewing operations, keeps prices competitive. Local breweries, such as Cambodia Beer and Angkor Beer, produce lagers extensively, contributing to their availability and popularity. As Cambodia’s economy grows at an average rate of 7% annually, the demand for affordable and accessible alcoholic beverages rises, and lagers fit this demand perfectly.

Social and cultural factors further bolster the prominence of lager beer. Lagers’ light flavor and lower alcohol content, around 4-5% ABV, make them approachable for a broader audience, pairing well with various foods and fitting seamlessly into social drinking culture. Lagers are prominently featured in festivals and events, and the influx of over 6 million tourists annually, many of whom are familiar with these beers, influences local preferences. Effective marketing campaigns by major brands and the convenient packaging of lagers in cans and bottles enhance their appeal. Collectively, these elements underline the dominance of lager beer in Cambodia’s beer market, where lagers constitute over 70% of the total beer consumption, making it the preferred choice for many consumers.

Bottles are Most Prominent and Highly Preferred Beer Packaging Container in Cambodia, Rake in Revenue of Over US$ 476.20 million

The dominance of bottles in the Cambodian beer market is driven by cultural preferences, perceived quality, environmental considerations, and economic factors. Consumers often associate bottled beer with higher quality, and a significant percentage of beer drinkers prefer bottles for their traditional appeal and nostalgic value. A study revealed that 68% of consumers perceive bottled beer as higher quality compared to canned beer. Additionally, research indicates that 54% of Cambodian beer drinkers prefer bottles due to their traditional appeal.

Environmental considerations also play a crucial role. Glass bottles are perceived as more environmentally friendly compared to aluminum cans, with a recycling rate of 75% for glass bottles versus 55% for aluminum cans. Bottles can be reused up to 20 times before recycling, aligning with the growing consumer demand for sustainable packaging options. Furthermore, bottles offer better protection against oxygen ingress, which is vital for maintaining the taste and quality of beer over time, especially for beers that are sensitive to oxidation. Studies show that 70% of brewers believe bottles provide better protection against oxidation compared to cans.

  • Analyst at Astute Analytica Says Economic Viability and Consumer Appeal Drive Bottle Demand

From an economic perspective, the cost of setting up canning lines can be prohibitive for smaller breweries, many of which already have the infrastructure for bottling. This makes bottling a more viable option economically in the Cambodia beer market. Reports indicate that 65% of Cambodian breweries are equipped with bottling lines, while only 35% have canning capabilities. Bottles also have higher market penetration in Cambodia due to established distribution networks and consumer habits. Studies indicate that 60% of consumers in the region prefer bottled beer over canned beer for its perceived premium quality and traditional appeal.

Bottles also offer practical advantages, such as easier handling and transport due to existing logistics networks optimized for bottled beverages. They are better suited for long-term storage, which is important for beers that require aging, with 80% of aged beers in Cambodia being stored in bottles. The tactile and visual appeal of glass bottles enhances the overall drinking experience, and their convenience for sharing and gifting adds to their attractiveness. Surveys show that 72% of consumers find bottled beer more visually appealing compared to canned beer. Lastly, bottles can be resealed more easily compared to cans, providing added convenience for consumers. Collectively, these factors underscore the dominance of bottles as the preferred packaging for beer in Cambodia.

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Macro Breweries Stays at Top in Cambodia’s Beer Market Thanks to Their Strong Presence in the Country

Macro breweries have cemented their dominance in Cambodia’s beer market, holding approximately 63% of the market share and producing over 10 million barrels of beer annually. Leading the charge are giants like Cambrew Ltd., known for Angkor Beer, Cambodia Brewery Limited (CBL), a subsidiary of Heineken producing brands such as Tiger Beer and Heineken, and Khmer Brewery with its popular Cambodia Beer. These breweries are not only significant in scale but also in their impact on the Cambodian economy and society. As per Astute Analytica, the macro breweries employ over 5,000 people directly, showcasing their role as major employers. Their extensive distribution networks cover over 90% of the country, ensuring that their products are readily available in over 80% of retail outlets nationwide. Furthermore, the export of around 15% of their production to neighboring countries highlights their regional influence.

Brand recognition is a testament to their marketing prowess, with Angkor Beer boasting a 95% recognition rate among Cambodian consumers. This success is backed by substantial investments, with over $200 million directed towards expanding and modernizing their brewing facilities in the past five years. The beer market in Cambodia has seen an impressive annual growth rate of 8% over the past three years, driven by an advertising spend of over $50 million annually.

Consumer preference leans heavily towards macro beer brands, with 65% of beer consumers favoring them over craft beers. This preference is strongest among the 25-45 age group, which accounts for 70% of sales. The breweries’ influence extends to tourism, contributing approximately $10 million annually to the economy through beer tourism. Sustainability and corporate social responsibility are also key aspects of their operations. Major breweries have implemented water conservation measures, reducing water usage by 20% per barrel of beer produced and investing in energy-efficient technologies that have cut energy consumption by 15%. Additionally, these breweries have invested over $5 million in community development projects and introduced eco-friendly packaging, reducing plastic waste by 10%.

Cambodia Beer Market Key Players

  • 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

Key Segmentation:

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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