Juices - Cambodia

The Juices market in Cambodia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Cambodian consumers have shown a growing preference for healthier beverage options, including juices. As awareness about the importance of a balanced diet and the benefits of consuming fruits and vegetables increases, more people are opting for juices as a convenient way to incorporate these nutrients into their daily routine. Additionally, the younger population in Cambodia, with their increasing disposable income and exposure to global trends, is more inclined towards healthier and natural food and beverage choices.

Trends in the market: One of the key trends in the Cambodian Juices market is the rising demand for organic and natural juices. Consumers are becoming more conscious about the ingredients used in their food and beverages, and are seeking products that are free from artificial additives and preservatives. This trend is driven by the perception that organic and natural juices are healthier and offer superior taste and quality. Another trend in the market is the popularity of functional juices. These are juices that are fortified with additional nutrients, such as vitamins, minerals, and antioxidants, to provide specific health benefits. Functional juices cater to the growing demand for products that offer more than just basic nutrition, and are especially popular among health-conscious individuals and those seeking targeted health benefits.

Local special circumstances: Cambodia's growing tourism industry has also contributed to the growth of the Juices market. As the number of tourists visiting Cambodia increases, there is a greater demand for refreshing and healthy beverages, including juices. Tourists are often willing to try local products and flavors, providing an opportunity for local juice manufacturers to expand their customer base.

Underlying macroeconomic factors: The economic growth and increasing disposable income in Cambodia have played a significant role in the development of the Juices market. As people's purchasing power increases, they are more likely to spend on premium and healthier products, including juices. This trend is further supported by the growing middle class in Cambodia, which has a higher propensity to spend on lifestyle and health-related products. In conclusion, the Juices market in Cambodia is growing due to changing customer preferences, emerging trends such as organic and functional juices, local special circumstances such as the growth of the tourism industry, and underlying macroeconomic factors such as economic growth and increasing disposable income. As these factors continue to drive the market, it is expected that the Juices market in Cambodia will continue to expand in the coming years.

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 Non-Alcoholic Drinks, 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 Non-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. The market is updated twice a year.