With the improvement of consumers’ requirements for product health, beverages represented by yogurt are becoming more and more popular. Malaysia’s major dairy companies have also seized this opportunity to launch yogurt products with various flavors, packaging and functions. In just over 30 years, Malaysia’s yogurt industry has made rapid progress. How is the Malaysia’s yogurt market in 2020?
Current status of yogurt market in Malaysia
In 2018, the market size of the Malaysian yogurt industry reached 101.117 billion yuan, and the market exceeded 100 billion yuan for the first time. In 2019, its milk sales increased by 4% year-on-year; and yogurt sales exceeded milk for the first time, about 119.2 billion yuan, an increase of 18% year-on-year, which is much faster than milk sales.
With the import of a series of yogurt processing machinery to many factories in Malaysia, the domestic yogurt processing industry is growing faster and the types of yogurt products on the market are becoming more and more abundant. According to various data, we can predict that the market size of Malaysia’s yogurt industry will exceed 120 billion yuan in 2020.
Analysis of the development trend of Malaysia’s yogurt industry in 2020
1. Growing channels for yogurt processing
Since the launch of Moslian’s creation of room temperature yogurt, dairy companies such as Yili and Mengniu have followed suit. Today, there are more than a dozen room temperature yogurt brands. Greek yogurt, Icelandic yogurt and other various room temperature yogurts have appeared in turns, and the market size is close to 5 billion.
While the rapid development of room temperature yogurt, Malaysia’s yogurt industry has also benefited from the improvement of the cold chain logistics system. Low-temperature yogurt has also grown rapidly in recent years, with a compound annual growth rate of double digits, which is similar to the normal-temperature yogurt market. As low-temperature yogurt gradually penetrates into the third and fourth-tier markets, future growth is also worth looking forward to.
2. More diverse flavors of yogurt
From the early honey yogurt to the later red date yogurt, to strawberry, blueberry, yellow peach and other fruit flavors, the taste of yogurt has become more and more diversified, and fruit and vegetable yogurt is no longer fresh.
In addition to adding fruit grains, many Malaysia’s yogurt processing brands have also launched special flavored yogurt products, adding cereal combinations such as oats, almond kernels, and cranberries, taking meal replacement as a selling point, and bringing yogurt into new areas. With the popularity of fitness and light body concepts, the behavior of replacing meals with yogurt has gradually become a trend.