Cambodia’s Frozen Food Segment to reach US$120 million by 2024

Emerging Cambodia will witness its frozen food market growing at a CAGR of 3.9% to reach US$120 million by 2024, according to latest research by Research & Markets.
The report highlighted that growing influence of Western food and an increase in tourism are the main factors for the growth of the market prior to the pandemic.
Frozen foods are also deemed to be safe which lead to growing demand for such products in Cambodia. Recently, the country has also adopted the trend of mini-meals, which has long been a part of Western culture. An increasing expatriate population and tourists are the target consumers for frozen food in the country.
The market for frozen foods in the country include products such as meat and seafood, desserts, fruits and vegetables and ready-to-eat meals. Products such as ice-cream and frozen yoghurt are also in high demand in supermarkets, traditional grocery stores and online stores. The urban dwellers have also fast adopted western diets which include products like frozen desserts, frozen potatoes and frozen meals.
Most of the modern food retailers such as DFI Lucky and Thai Huot, also service the hotels and restaurants operators with providing the frozen products through their retail stores or wholesale operations.
Frozen seafood commands the biggest share within the frozen food category in the country. Domestic production of frozen food is still at low capacity, with most demand met by imports. The country has more importers and distributors than producers. At present, the market is dominated by international players such as McCain, Dira Frost, and Les Vergers Boiron.
The share of domestic players in the market is quite low as frozen food requires high-capital investments such as individual quick freezers and cold storage facilities, which are out of reach for many companies in Cambodia.