Alcoholic drinks was negatively impacted by the COVID-19 pandemic in 2020 due to the closure of establishments that sell alcoholic beverages and food. While some consumption did shift to the off-trade, this was not enough to prevent total destruction for the industry overall.
The most noticeable consequence of the presence of the COVID-19 virus in Cambodia for sales of alcoholic drinks during 2020 was the steep decline seen in on-trade demand and a substantial shift in sales to the off-trade. The specific reason for this was the requirement for many on-trade venues to remain closed for an extended period during the year, including all bars, restaurants and karaoke lounges.
In regards to the COVID.19 pandemic, there have been frequent curfews on gatherings and sales prohibition.
Attitudes towards alcohol consumption in Cambodia are mixed and constantly shifting. There is an established culture of drinking among men, with men often drinking heavily when socialising.
Regarding Cambodia 's economic growth, GDP in 2021 was 3%, thanks to supporting drivers such as internal political stability, world economic recovery post pandemic, the implementation of free trade agreements (FTA), increasing confidence in the banking system and herd immunity from the COVID-19 virus. In 2022, Cambodia GDP, projected to be around 5%, mainly driven by global economic recovery post pandemic.
Cambodia is a country that poses a number of distribution challenges to alcoholic drinks companies. Only 26% of the country’s population lived in urban areas in the review period, although this share is increasing.
Between 2020 and 2021, there are no changes at all in Cambodian legislation on alcoholic drinks.
There is no change at all in taxation between 2020 and 2021.
The forecast period is expected to see alcoholic drinks record similar growth to that seen over the review period. Sales growth is expected to be underpinned by rising disposable income levels and the expansion of the crucial mid-income urban consumer group.
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Alcoholic drinks is the aggregation of beer, wine, spirits, cider/perry and RTDs.See All of Our Definitions
This report originates from Passport, our Alcoholic Drinks research and analysis database.
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