Soaring Demand For Korean Beverages

SEOUL, Jan. 11 (Korea Bizwire) — Korean beverages are gaining popularity in Cambodia as both delicious drinks and great supplements for health.

Phnom Penh’s beverage imports from Korea have jumped more than eightfold in recent years, rising from US$4.8 million in 2016 to US$41.1 million in 2019, according to the state-run Korea Trade-Investment Promotion Agency (KOTRA).

Beverages have become South Korea’s largest export to Cambodia since 2018, comprising 13.4 percent of total exports to the Southeast Asian nation.

Cambodia’s Korean beverage imports began to jump in 2017 ($30 million), reaching an average growth rate of 17 percent in 2018 and 2019.

Cambodia’s 7 percent range of rapid economic growth, coupled with a high proportion of young people (47.5 percent) are seen as two primary factors driving growth of the consumer goods market, including beverages.

Cambodia’s total beverage imports in 2019 stood at $300 million, comprising 62.5 percent of the entire beverage market.

Image Credit: KOTRA / Korean Foundation for International Cultural Exchange / [email protected]koreabizwire.com

Leave a Reply

Your email address will not be published. Required fields are marked *