Thailand’s alternative milk sector is poised for further growth, spurred by a health trend among younger consumers. Kasikorn Research Center predicts that the plant-based food market will reach THB 45 billion (USD 1.25 billion) by 2024, fueling sales of plant-based milks like soy, almond, and oat milk.
The oat milk market in Thailand is becoming increasingly competitive, with local and international producers vying for market share through modern trade and partnerships with coffee shops. This competition reflects a growing consumer preference for oat milk as a healthier alternative.
Oatbedient, a Singaporean oat milk brand with significant growth potential, has recently entered the Thai market and quickly attracted considerable interest. Owned by Listen Up Pte Ltd, a Singaporean food technology company, Oatbedient offers minimally processed, lactose-free products aimed at health-conscious consumers, particularly younger Thais who are embracing health trends.
Soh noted that although Oatbedient is new to Thailand, its parent company has established a presence in Mongolia, China, and Singapore, with the brand name varying by location. Thailand, chosen as the first ASEAN entry point, is known for its strong interest in food trends, open-mindedness, creativity, and sophisticated palate.
The thriving coffee shop culture in Thailand is also driving the popularity of alternative milks. According to Soh, coffee shops in Thailand are more than just places for drinks; they represent a lifestyle. This vibrant coffee shop scene, with its unique and innovative menus, contrasts with the smaller, less creative market in Singapore.
Oatbedient focuses on direct consumers and B2B partnerships with coffee shops, seeing significant potential in oat, pistachio, and soy milk. Oat milk currently has the highest growth trajectory, though soy milk maintains the largest market share. Oatbedient’s B2B sales are projected to reach approximately THB 20 million (USD 560,000) annually, with substantial room for further expansion.
(Source: Khaosod English)
