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Cambodia Frozen Food Market- Growth, Trends, and Forecasts (2020 - 2025)

Cambodia Frozen Food Market- Growth, Trends, and Forecasts (2020 - 2025)

  • October 2020
  • 91 pages
  • ID: 5993755
  • Format: PDF
  • Mordor Intelligence LLP
Up to $650 off Until Jun 20th 2021

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The Cambodia Frozen Food Market is projected to register a CAGR of 3.74% during the study period (2020-2025).

- Fast adoption of Western diet trends owing to increasing tourism and expat population are the prime factors that has led to a hike in the retail sales of packaged food, especially frozen and chilled food. Recently, the Cambodian population has adopted the trend of mini-meals, which has, for long, been a part of Western culture.
- Consumers in Cambodia displayed higher demand for frozen desserts, frozen potatoes, and frozen ready meals. Some importers in Cambodia specialize in servicing the hotel restaurant and institution (HRI) trade, and have the appropriate frozen and chilled storage and distribution infrastructure. Most of the modern food retailers, such as DFI Lucky and Thai Huot, also service the HRI trade through their retail stores or wholesale operations.
- However, high production costs, in terms of raw material and machinery, create major obstacles for this market. In addition, the high import duty levied in Cambodia, which leads to the high cost of frozen food, is another major concern in the market.

Key Market Trends
Influence of Westernization on Diet and Healthy Tourism

A shift from the Southeast Asian cultural tradition of eating multiple (four or five times) small meals a day, to the norm of most developed countries of having three meals a day is being widely noticed. The trend also includes increased purchase of ready-to-eat, cooked foods, and the consumption of frozen food products. The fast adoption of western diet trends has led to a hike in the retail sales in packaged food industry, especially frozen and chilled food. Consumers in Cambodia displayed higher demand for frozen desserts, frozen potatoes, and frozen ready meals. Some importers in Cambodia specialize in servicing the hotel restaurant and institution (HRI) trade and have the appropriate frozen and chilled storage and distribution infrastructure. Most of the modern food retailers, such as DFI Lucky and Thai Huot, also service the HRI trade through their retail stores or wholesale operations.

Growing Demand for Frozen Seafood

Frozen seafood occupies a significant share in the frozen food product category in the Cambodian market. Frozen seafood manufacturers find it difficult to compete on the prices with the traders in the native market. The Institute of Standards of Cambodia (ISC) and the United Nations Industrial Development Organization (UNIDO) teamed up in 2016 to increase the export of four seafood products adhering to the international standards. Fish sauce, frozen shrimp, dried shrimp, and crab meat form the major exports of the seafood in the country. The hectic lifestyles, changing taste and preferences of the consumers, and the increased shelf life of frozen products are the reasons for the gaining popularity of frozen foods in the country.

Competitive Landscape
At present, the market is dominated by international players, such as Thai Beverage PLC, Unilever PLC, and DiraFrost. The share of local players in the market is quite low, as frozen food requires high capital requirements for individual quick freezers and cold storage facilities, which are out of reach for companies operating in the frozen food market in Cambodia.?The Cambodian frozen food market is growing at a steady pace, with a low production capacity. The demand for frozen food in the market is majorly met through imports. The country has more importers and distributors than producers. The frozen food market is in the stage of infancy, but this scenario is expected to change over the forecast period, with the growth of the middle-class population in the country.?

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