Hard Seltzer - Cambodia

The Hard Seltzer market in Cambodia has been experiencing significant growth in recent years, driven by changing consumer preferences and a growing demand for low-alcohol and low-calorie beverages.

Customer preferences: Cambodian consumers have shown a growing interest in healthier and more refreshing alcoholic beverages, which has contributed to the rise in popularity of Hard Seltzers. These beverages are typically low in alcohol content and calories, making them appealing to health-conscious individuals. Additionally, the fruity flavors and carbonation of Hard Seltzers provide a refreshing alternative to traditional alcoholic beverages.

Trends in the market: One of the key trends in the Hard Seltzer market in Cambodia is the increasing availability and variety of flavors. Manufacturers have been introducing a wide range of flavors to cater to different consumer preferences, including tropical fruits, citrus, and berry flavors. This variety has helped to attract a diverse consumer base and expand the market for Hard Seltzers. Another trend in the market is the growing number of local and international brands entering the Cambodian market. As the popularity of Hard Seltzers continues to rise, both local and international beverage companies have recognized the potential for growth and have started introducing their own brands. This increased competition has led to more options for consumers and has contributed to the overall growth of the market.

Local special circumstances: Cambodia's warm climate and tourism industry have also played a role in the development of the Hard Seltzer market. The hot and humid weather in Cambodia makes refreshing beverages like Hard Seltzers particularly appealing to both locals and tourists. Additionally, the country's growing tourism industry has brought in a diverse range of consumers with different preferences and tastes, further driving the demand for Hard Seltzers.

Underlying macroeconomic factors: The growing middle class and increasing disposable income in Cambodia have also contributed to the development of the Hard Seltzer market. As more Cambodians have access to higher incomes, they are able to spend more on leisure activities and luxury goods, including premium alcoholic beverages like Hard Seltzers. This rise in disposable income has created a larger consumer base for the market and has supported its growth. Furthermore, the influence of Western culture and lifestyle trends has also played a role in the development of the Hard Seltzer market in Cambodia. As Cambodians become more exposed to Western influences through media and travel, they are adopting Western drinking habits and preferences. This includes a growing interest in low-alcohol and low-calorie beverages like Hard Seltzers, which align with the health and wellness trends popular in Western countries. In conclusion, the Hard Seltzer market in Cambodia is experiencing significant growth due to changing consumer preferences, increased availability and variety of flavors, the influence of Western culture, and local special circumstances such as the country's warm climate and growing tourism industry. These factors, combined with the underlying macroeconomic factors of a growing middle class and increasing disposable income, have created a favorable environment for the development and expansion of the Hard Seltzer market in Cambodia.

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.