Soy drinks players Fraser & Neave Holdings and Yeo Hiap Seng are predicted to experience intense competition from “other” plant-based milk players as new brands are likely to continue to enter the fray. In this vein, there is strong potential for “other” plant-based milk from other countries, such as Love Oat from Thailand, and Glico Almond Koka from Japan, launched in Thailand in March 2023, to be introduced in Malaysia in the short to medium term.
Farm Fresh is set to cross categories to launch a plant-based spoonable yoghurt with added coconut and oat in Q3 2023. The company is likely to continuously seek to launch novelties in new product areas like plant-based yoghurt and “other” plant-based milk, in particular, with a focus on sugar-free ranges that cater to the growing number of health-conscious consumers in the country.
Despite Farm Fresh’s efforts, plant-based yoghurt, as well as plant-based cheese, is expected to remain negligible over the forecast period. Plant-based dairy is predominantly focused on soy drinks and “other” plant-based milk, but other products are starting to appear in the market as awareness of and the demand for plant-based diets grow.
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Understand the latest market trends and future growth opportunities for the Plant-based Dairy industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Plant-based Dairy
This is the aggregation of plant-based milk, plant-based yoghurt and plant-based cheese. Please note that plant-based dairy products that are not milk, yoghurt or cheese are tracked under their core dairy categories (e.g. powder milk, margarine and spreads, coffee whiteners etc.)
See All of Our DefinitionsThis report originates from Passport, our Plant-based Dairy research and analysis database.
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