Food - Cambodia

Cambodia

Revenue in the Food market amounts to US$8.25bn in 2024. The market is expected to grow annually by 6.98% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$2.33bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$467.60 are generated in 2024.
In the Food market, 2.0% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 2,847.00m kg by 2029. The Food market is expected to show a volume growth of 4.5% in 2025.
The average volume per person in the Food market is expected to amount to 134.70kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

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Analyst Opinion

The Food market in Cambodia has been experiencing minimal growth, with various factors impacting this trend. These include limited access to technology for digital solutions, low health awareness among consumers, and a preference for traditional and locally-sourced food. Additionally, the sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, and Fruits & Nuts face challenges such as limited infrastructure and resources. However, there is potential for growth in the Convenience Food and Pet Food sectors due to increasing urbanization and changing lifestyles.

Customer preferences: The growing influence of Western culture and increased urbanization in Cambodia has led to a rise in demand for convenience foods and international cuisines. This trend is driven by busy lifestyles and the desire for new and diverse dining experiences. Additionally, health-conscious consumers are opting for healthier and organic options, leading to the emergence of specialty health food stores and organic markets in major cities. The increased availability of online food delivery services has also made it easier for consumers to access a wider range of food options.

Trends in the market: In Cambodia, The Food market industry is experiencing a rise in online food delivery services, with companies like GrabFood and Foodpanda gaining popularity. This trend is driven by the increasing use of smartphones and the convenience of ordering food from the comfort of one's home. Additionally, there is a growing focus on healthy and sustainable food options, with a rise in demand for organic and locally-sourced products. These trends are significant as they cater to the changing preferences of consumers and offer opportunities for small-scale farmers and local businesses. However, there are potential implications for traditional brick-and-mortar restaurants and food vendors who may struggle to compete with online platforms. It is crucial for industry stakeholders to adapt to these trends and invest in technology and marketing strategies to remain competitive in the evolving Food Market landscape.

Local special circumstances: In Cambodia, The Food market is heavily influenced by the country's agricultural landscape and traditional culinary practices. Due to the abundance of fresh produce and the emphasis on using local ingredients, the market is dominated by small-scale, family-owned businesses. This unique aspect creates a tight-knit community of vendors and consumers, with a strong focus on supporting local farmers and promoting sustainable farming practices. Additionally, government regulations on food safety and hygiene play a significant role in shaping the market dynamics, as the country has a history of foodborne illness outbreaks.

Underlying macroeconomic factors: The Food market in Cambodia is impacted by various macroeconomic factors. The country's economic growth and stability, as well as global economic trends, play a crucial role in the performance of the market. Fiscal policies, such as taxation and subsidies, also influence the market by affecting production costs and consumer spending. Additionally, the availability of resources, such as land and labor, and their costs, also impact the market. Moreover, consumer preferences and purchasing power are influenced by income levels and inflation rates, which can affect demand for different food products. The government's policies and investments in agriculture and infrastructure also play a significant role in the development of The Food market in Cambodia.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

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, and consumer price 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 Food 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. The market is updated twice a year.