A local resident is taking a can of Bacchus from the beverage shelf at a supermarket in Phnom Penh, the capital of Cambodia.
[Asia Economy Reporter Hana Na] Korean beverages such as Bacchus and Aloe Vera are gaining popularity in Cambodia.
According to the KOTRA Phnom Penh Trade Center on the 9th, Cambodia's imports of Korean beverages increased more than eightfold from $4.89 million in 2016 to $41.14 million in 2019. Since 2018, 'beverages' have become the top export item from Korea to Cambodia.
Cambodia's imports of Korean beverages began to rise sharply from 2017 ($30.16 million), recording an average growth rate of 17% between 2018 and 2019. Additionally, as the overall beverage market continues to expand, import volumes are expected to increase further.
Korean beverages with high competitiveness in Cambodia include Bacchus and Aloe Vera, which combine taste and health benefits.
Recently, KOTRA conducted a beverage tasting event with 100 consumers in Phnom Penh to survey the awareness of two Korean beverage products. The results showed that a significant number of respondents were familiar with the products and had purchased them. Respondents cited taste and health as reasons for consumption.
For product A, 41 out of 50 respondents knew the product, and 33 had experience purchasing it. For product B, 38 out of 50 respondents were aware of the product and had also purchased it.
KOTRA stated, "With the ongoing negotiations on the Korea-Cambodia Free Trade Agreement (FTA) and the easing of tariff barriers, trade volume between the two countries, including beverages, is expected to increase."
They added, "It is essential to capture the Cambodian youth market, which shows high product loyalty based on interest in overseas products and modernized tastes. Given that local distribution channels have diversified, including online platforms due to COVID-19, establishing new sales strategies is necessary."
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