Euromonitor International - Analysis Malayasia PDF

9/2/2016
Euromonitor International - Analysis
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DrinkingMilkProductsinMalaysia
CategoryBriefing|06Nov2015
HEADLINES
In2015drinkingmilkproductsrecordscurrentvaluegrowthof7%toreachsalesofMYR1.8billion
Increasinghealthawarenessandmoreimportedbrandshelptoboostsales
Semiskimmedfreshmilkachievesthestrongestcurrentvaluegrowthof10%
Unitpricesriseincurrenttermsacrossdrinkingmilkproductsin2015
DutchLadyMilkIndustriesBhdcontinuestoleadthecategorywitha23%valueshare
DrinkingmilkproductsexpectedtopostavalueCAGRof3%atconstant2015pricesoverthe
forecastperiod
TRENDS
Drinkingmilkproductsareexperiencingstrongdemandfromconsumersduetoimprovinghealth
awarenessasthesebeverageshaveahighcalciumcontent.Inaddition,thecategoryisbenefitingfrom
theemergenceofmoreimportedbrands,whichhelpedtoboostsalesin2015.Examplesofimported
brandsfromcountrieslikeAustralia,SwitzerlandandNewZealandincludeAuSelect,Pura,Greenfields
andMrFarmer.
Drinkingmilkproductsregisteredcurrentvaluegrowthof7%in2015,thisbeingstrongerthanthe
reviewperiodCAGRof6%.Thiscanbeattributedtotheintroductionofmanyimportedbrandsin
selectedhypermarketstotargetupperincomeconsumersaswellasincreasinghealthawareness.
Semiskimmedfreshmilkwasthebestperformerin2015withcurrentvaluegrowthof10%toreach
salesofMYR146million.Thecategoryisbenefitingfromawiderangeofbrandsandthefactthat
consumersprefersemiskimmedtofullfatfreshmilkduetoitslowercaloriecontent.
Unitpricesincreasedin2015acrossdrinkingmilkproductsduetotherebeingmanyimportedbrands
sellingatpremiumpricescomparedtolocallyproducedbrands.Examplesofimportedflavouredmilk
drinkswhichretailatpremiumpricesincludeEmmiCaffLatteCappuccino(MYR6.39for200ml)and
DutchLadyChocolateMilk(MYR8.19for6x200mlpack).
MilkissubsidisedbytheMalaysiangovernmentforschoolchildren,specificallythoseinprimary
school.ThegovernmentsetuptheSchoolMilkProgrammein1983tohelpchildrenfrompoor
backgroundsgetbetternutrition.TheSchoolMilkProgramme,however,doesnotsignificantlyimpact
theretailsalesofdrinkingmilkproducts.Thisisbecausetheschemeisonlyforselectedprimary
schools.
ConsumersarenotgenerallyawareaboutmicrofilteredmilkinMalaysia,hencemainlyonly
recognisingfreshandshelfstablemilk.
Nondairymilkalternativesrecorded6%currentvaluegrowthin2015toreachsalesofMYR447
million.Theseproductsaremainlymadefromsoyandareconsideredhealthierbyconsumers.
Moreover,therearemanysoymilkbrandsavailableinthemarketplace,withFraser&NeaveHoldings
BhdcontinuingtolaunchnewproductssuchasF&NNutrisoywithCalcium.
UnpackagedmilkisnotprevalentinMalaysiaduetosafetyconcerns.
COMPETITIVELANDSCAPE
DutchLadyMilkIndustriesBhdcontinuedtoleadthecategoryin2015witha23%valueshareand
salesofMYR406million.Thecompanysleadershipcanbeattributedtoaggressiveadvertisingand
marketingandnewproductdevelopment.ThecompanyoffersflavouredmilkdrinksundertheDutch
LadyPureFarmbrand.
https://www.portal.euromonitor.com/portal/analysis/tab
1/7
9/2/2016
TheHolsteinMilkCompanySdnBhdsawthebiggestincreaseinvaluesalesof20%in2014and
14%in2015.ThisgaincanbeattributedtothecompanyintroducingFarmFreshflavouredmilkdrinks
andfreshmilkin2013,alongwithmorevariantsinfreshmilk.FarmFreshhasalsoachievedstrong
distributionviamostmoderngroceryoutlets.
Successfulcompanystrategiesin2014and2015includedaggressivepromotionaloffersaswellas
activitiessuchascompetitionsandfreesamples.Widespreaddistributionalsoremainedimportant.
Drinkingmilkproductscontinuedtobedominatedbyinternationalbrandsin2015,commanding
arounda94%valueshare.SuchbrandsincludeDutchLady,AnleneConcentrate,Yeo'sSoyaBean
Drink,MiloandF&NMagnolia.ThemaindomesticbrandwasFarmFresh,whichheldjusta1%value
share.Internationalanddomesticbrandsbothperformedwellin2015duetostrongdemandfrom
consumersandrisinghealthawareness.
Keyadvertisingcampaignsfordrinkingmilkproductstendtousethebroadcastmediaaswellas
newspapersandsocialmediasitessuchasFacebook.Forexample,DutchLadyheavilyadvertisesits
PureFarmFreshMilkaswellasmakinguseoffreesamplesinretailoutlets.
Themostfrequentlyusedpackagingformatsfordrinkingmilkproductsareplasticbottles,HDPE
bottles,brickliquidcartonsandgabletopliquidcartons.Thesetypesofpackagingareconvenientfor
consumerstobothcarryandstore.
PremiumbrandsareincreasinglybeingseeninMalaysia,oftenimportedfromcountrieslikeAustralia
andNewZealand.ExamplesincludeAuSelect,Greenfields,OrganicValley,Farmhouse,EmmiCaff,
PuraandMrFarmer.Thesepremiumbrandstargetconsumersusinghighendshoppingmalls.
StandardbrandslikeGoodday,DutchLady,F&NMagnoliaandMarigoldcompeteforsalesviastrong
distributionandattractivesellingprices.Economybrandsandprivatelabellinesarealsoavailablebut
sufferfromalackofshelfspace.
PROSPECTS
Consumerswillcontinuetopurchasedrinkingmilkproductsthankstoincreasinghealth
consciousnessandthefrequencyofpromotionalactivities.Inaddition,drinkingmilkproductswith
benefitfromtheofferofdifferentpacksizes.
DrinkingmilkproductsisexpectedtoregisteravalueCAGRof3%atconstant2015pricesoverthe
forecastperiod.Thisperformancewillbemarginallyweakerthanthatofthereviewperiod.Thiswillbe
becauseconsumerswillremaincautiouswiththeirspendingovertheforecastperiodduetoexpected
pricehikesonmostcommodityproducts.
Potentialthreatstogrowthwillalsoincludehigherinflationandfurthergovernmentreforms.
Semiskimmedfreshmilkandfortified/functionalstandardmilkareexpectedtobethebestperformers
overtheforecastperiod,registeringvalueCAGRsof5%atconstant2015prices.Thiswillbedueto
consumersincreasinghealthawareness.
Unitpricesareexpectedtofallacrossdrinkingmilkproductsovertheforecastperiodbecausethe
leadingplayerswilloffermorepricediscountsandbundledeals.Commoditypricevolatilitycouldalso
affectunitprices.
Potentialcompanyactivityovertheforecastperiodwillincludeaggressivepromotionssuchasprice
discountsandbundles,smallerpacksizes,improveddistributionandnewproductswithadded
ingredients.Moreover,importedbrandsareexpectedtoincreaseinnumberinMalaysiaduetostrong
demandfromcertainconsumergroups.Inaddition,itispossiblethatlocalplayerswillenterintojoint
ventures,possiblywithcompaniesfromAustraliaandNewZealand,soastobeabletoofferhigher
qualityproducts.
Thenewproductlaunchedin2014,namelyF&NNutrisoywithCalcium,isexpectedtoperformwellin
theshorttermasitisbeingheavilypromotedinmanyretailoutlets.Othercompaniesmayalsoseekto
developnewproductswithaddedingredientssuchasmineralsandvitaminstoappealtomorehealth
consciousconsumers.
CATEGORYDATA
Table1SalesofDrinkingMilkProductsbyCategory:Volume20102015
tonnes
2010
2011
2012
2013
2014
2015
FlavouredMilkDrinks
93,913.83
98,139.96 102,065.56 105,739.93 111,226.98 116,460.14
DairyOnlyFlavoured
93,913.83
98,139.96 102,065.56 105,739.93 111,226.98 116,460.14
2/7
9/2/2016
MilkDrinks
FlavouredMilkDrinks
withFruitJuice
Milk
59,747.92
62,431.17
65,332.50
68,428.42
71,759.77
75,096.92
Cow'sMilk
59,747.92
62,431.17
65,332.50
68,428.42
71,759.77
75,096.92
17,802.72
18,603.84
19,254.97
19,813.37
20,348.33
20,857.04
GoatMilk
PowderMilk
NonDairyMilk
Alternatives
104,946.22 112,214.05 118,891.75 123,647.42 128,346.02 132,966.48
SoyDrinks
SoyMilk
104,946.22 112,214.05 118,891.75 123,647.42 128,346.02 132,966.48
OtherNonDairyMilk
Alternatives
DrinkingMilkProducts
276,410.70 291,389.01 305,544.78 317,629.13 331,681.10 345,380.58
Source:EuromonitorInternationalfromofficialstatistics,tradeassociations,tradepress,companyresearch,storechecks,tradeinterviews,tradesources
Table2SalesofDrinkingMilkProductsbyCategory:Value20102015
MYR'000
2010
2011
2012
2013
2014
2015
Flavoured
MilkDrinks
398,975.38
420,919.02
446,174.16
471,878.68
500,284.22
537,805.53
DairyOnly
Flavoured
398,975.38
420,919.02
446,174.16
471,878.68
500,284.22
537,805.53
Milk
250,640.97
264,745.45
281,250.42
310,125.65
330,309.39
356,899.89
Cow'sMilk
250,640.97
264,745.45
281,250.42
310,125.65
330,309.39
356,899.89
PowderMilk
359,402.87
379,170.03
394,336.83
409,321.63
424,057.20
449,076.58
NonDairy
330,125.80
356,365.63
382,910.90
402,056.45
420,953.10
446,631.24
330,125.80
356,365.63
382,910.90
402,056.45
420,953.10
446,631.24
MilkDrinks
Flavoured
MilkDrinks
withFruit
Juice
GoatMilk
Milk
Alternatives
SoyDrinks
SoyMilk
OtherNon
DairyMilk
Alternatives
DrinkingMilk 1,339,145.02 1,421,200.13 1,504,672.31 1,593,382.40 1,675,603.91 1,790,413.25
Products
Table3SalesofDrinkingMilkProductsbyCategory:%VolumeGrowth20102015
%volumegrowth
2014/15
201015CAGR
2010/15Total
FlavouredMilkDrinks
4.70
4.40
24.01
DairyOnlyFlavouredMilkDrinks
4.70
4.40
24.01
Milk
4.65
4.68
25.69
Cow'sMilk
4.65
4.68
25.69
PowderMilk
2.50
3.22
17.16
NonDairyMilkAlternatives
3.60
4.85
26.70
3.60
4.85
26.70
FlavouredMilkDrinkswithFruitJuice
GoatMilk
SoyDrinks
SoyMilk
3/7
9/2/2016
OtherNonDairyMilkAlternatives
4.13
4.56
24.95
Table4SalesofDrinkingMilkProductsbyCategory:%ValueGrowth20102015
%currentvaluegrowth
2014/15
201015CAGR
2010/15Total
FlavouredMilkDrinks
7.50
6.15
34.80
7.50
6.15
34.80
Milk
8.05
7.32
42.39
Cow'sMilk
8.05
7.32
42.39
PowderMilk
5.90
4.56
24.95
6.10
6.23
35.29
GoatMilk
SoyDrinks
SoyMilk
6.10
6.23
35.29
6.85
5.98
33.70
Table5NBOCompanySharesofDrinkingMilkProducts:%Value20112015
%retailvaluersp
2011
2012
2013
2014
2015
DutchLadyMilkIndustriesBhd
20.31
20.92
21.69
22.18
22.69
FonterraBrands(M)SdnBhd
16.55
16.43
16.29
16.15
16.07
YeoHiapSeng(M)Bhd
13.53
13.92
14.00
14.02
14.02
Nestl(Malaysia)Bhd
13.85
13.78
13.80
13.68
13.49
Fraser&NeaveHoldingsBhd
11.03
10.67
9.60
9.53
9.31
MalaysiaMilkSdnBhd
8.37
8.36
8.47
8.48
8.46
AceCanningCorpSdnBhd
6.73
6.66
6.48
6.42
6.31
SusuLembuAsliMarketingSdnBhd
3.26
3.20
3.17
3.16
3.24
0.85
0.97
1.03
BristolMyersSquibb(M)SdnBhd
0.37
0.36
0.35
0.34
0.32
DanoneDumex(M)SdnBhd
0.16
0.16
0.15
0.15
0.14
Wyeth(M)SdnBhd
0.08
0.07
0.07
0.07
0.06
PokkaAce(M)SdnBhd
F&NCocaCola(M)SdnBhd
SnowBrandMarketingSdnBhd
5.76
5.47
5.08
4.86
4.85
100.00
100.00
100.00
100.00
100.00
HolsteinMilkCompanySdnBhd,The
Others
Total
Table6LBNBrandSharesofDrinkingMilkProducts:%Value20122015
%retailvaluersp
Company
2012
2013
2014
2015
DutchLady
20.92
21.69
22.18
22.69
Yeo's
YeoHiapSeng(M)Bhd
13.92
14.00
14.02
14.02
Anlene
8.53
8.51
8.46
8.38
Marigold
MalaysiaMilkSdnBhd
7.60
7.74
7.77
7.79
Drinho
6.44
6.27
6.21
6.11
Milo
Nestl(Malaysia)Bhd
5.52
5.74
5.78
5.83
Fernleaf
5.56
5.47
5.44
5.50
Everyday
Nestl(Malaysia)Bhd
5.03
5.03
4.99
4.88
F&NMagnolia
4.59
4.63
4.64
4.50
Goodday
SusuLembuAsliMarketingSdnBhd
3.20
3.17
3.16
3.24
SeasonsNutrisoy
2.72
2.72
4/7
9/2/2016
Anmum
2.35
2.30
2.25
2.19
Farmhouse
2.27
2.25
2.17
2.09
Nespray
Nestl(Malaysia)Bhd
1.93
1.76
1.65
1.52
Omega
Nestl(Malaysia)Bhd
1.05
1.03
1.04
1.05
FarmFresh
HolsteinMilkCompanySdnBhd,The
0.85
0.97
1.03
MarigoldSoyaBeanDrink MalaysiaMilkSdnBhd
0.76
0.73
0.70
0.67
Enfamama
BristolMyersSquibb(M)SdnBhd
0.36
0.35
0.34
0.32
Nesvita
Nestl(Malaysia)Bhd
0.25
0.24
0.23
0.22
Soyfresh
0.22
0.21
0.21
0.20
MamilMama
DanoneDumex(M)SdnBhd
0.16
0.15
0.15
0.14
SeasonsSoyaBean
2.77
2.73
Daisy
1.05
Calcimex
SeasonsSoyaBean
F&NCocaCola(M)SdnBhd
F&N
PokkaSoyBeanDrink
PokkaAce(M)SdnBhd
SnowBrand
SnowBrandMarketingSdnBhd
Wyeth
Wyeth(M)SdnBhd
Others
Others
5.54
5.16
4.92
4.92
Total
Total
100.00 100.00 100.00 100.00
Table7DistributionofDrinkingMilkProductsbyFormat:%Value20102015
%retailvaluersp
2010
2011
2012
2013
2014
2015
StoreBasedRetailing
99.90
99.90
99.90
99.90
99.90
99.90
GroceryRetailers
99.90
99.90
99.90
99.90
99.90
99.90
ModernGroceryRetailers
26.30
28.10
28.40
28.50
28.60
28.80
2.00
2.00
2.00
2.00
2.00
2.00
0.60
0.60
0.60
0.60
0.60
0.60
Hypermarkets
18.62
20.04
20.20
20.30
20.40
20.50
Supermarkets
5.08
5.46
5.60
5.60
5.60
5.70
73.60
71.80
71.50
71.40
71.30
71.10
72.10
70.50
70.20
70.10
70.00
69.80
ConvenienceStores
Discounters
ForecourtRetailers
TraditionalGroceryRetailers
Food/drink/tobaccospecialists
IndependentSmallGrocers
OtherGroceryRetailers
1.50
1.30
1.30
1.30
1.30
1.30
NonGrocerySpecialists
HealthandBeautySpecialistRetailers
OtherFoodsNonGrocerySpecialists
MixedRetailers
0.10
0.10
0.10
0.10
0.10
0.10
Vending
Homeshopping
0.10
0.10
0.10
0.10
0.10
0.10
100.00
100.00
100.00
100.00
100.00
100.00
NonStoreRetailing
InternetRetailing
DirectSelling
Total
Table8ForecastSalesofDrinkingMilkProductsProductsbyCategory:Volume20152020
tonnes
2015
2016
2017
2018
2019
2020
FlavouredMilkDrinks
116,460.14 121,355.69 126,002.34 130,654.05 135,360.00 140,130.00
DairyOnlyFlavoured
116,460.14 121,355.69 126,002.34 130,654.05 135,360.00 140,130.00
MilkDrinks
5/7
9/2/2016
FlavouredMilkDrinks
Milk
75,096.92
78,443.56
81,874.91
85,344.83
88,850.92
92,416.93
Cow'sMilk
75,096.92
78,443.56
81,874.91
85,344.83
88,850.92
92,416.93
20,857.04
21,286.75
21,657.41
22,052.99
22,476.12
22,926.97
withFruitJuice
GoatMilk
PowderMilk
NonDairyMilk
Alternatives
132,966.48 136,963.08 140,398.30 144,462.37 149,126.54 154,379.29
SoyDrinks
SoyMilk
132,966.48 136,963.08 140,398.30 144,462.37 149,126.54 154,379.29
OtherNonDairyMilk
Alternatives
345,380.58 358,049.08 369,932.96 382,514.23 395,813.57 409,853.19
Source:EuromonitorInternationalfromtradeassociations,tradepress,companyresearch,tradeinterviews,tradesources
Table9ForecastSalesofDrinkingMilkProductsProductsbyCategory:Value20152020
MYR'000
2015
2016
2017
2018
2019
2020
Flavoured
MilkDrinks
537,805.53
555,586.35
572,422.11
589,540.19
606,067.86
623,111.25
DairyOnly
Flavoured
MilkDrinks
537,805.53
555,586.35
572,422.11
589,540.19
606,067.86
623,111.25
Flavoured
MilkDrinks
Milk
356,899.89
372,180.74
387,186.15
401,442.83
415,323.85
428,560.76
Cow'sMilk
356,899.89
372,180.74
387,186.15
401,442.83
415,323.85
428,560.76
PowderMilk
449,076.58
458,578.05
467,399.71
475,308.58
481,985.35
487,947.68
NonDairy
446,631.24
455,161.52
462,052.10
470,806.70
480,801.82
491,910.16
446,631.24
455,161.52
462,052.10
470,806.70
480,801.82
491,910.16
withFruit
Juice
GoatMilk
Milk
Alternatives
SoyDrinks
SoyMilk
OtherNon
DairyMilk
Alternatives
DrinkingMilk 1,790,413.25 1,841,506.66 1,889,060.07 1,937,098.31 1,984,178.88 2,031,529.86
Products
Table10ForecastSalesofDrinkingMilkProductsProductsbyCategory:%VolumeGrowth
20152020
%volumegrowth
2015/16
201520CAGR
2015/20Total
FlavouredMilkDrinks
4.20
3.77
20.32
4.20
3.77
20.32
Milk
4.46
4.24
23.06
Cow'sMilk
4.46
4.24
23.06
PowderMilk
2.06
1.91
9.92
3.01
3.03
16.10
3.01
3.03
16.10
GoatMilk
SoyDrinks
SoyMilk
6/7
9/2/2016
3.67
3.48
18.67
Table11ForecastSalesofDrinkingMilkProductsProductsbyCategory:%ValueGrowth2015
2020
%constantvaluegrowth
2015/2016
201520CAGR
2015/20TOTAL
FlavouredMilkDrinks
3.31
2.99
15.86
3.31
2.99
15.86
Milk
4.28
3.73
20.08
Cow'sMilk
4.28
3.73
20.08
PowderMilk
2.12
1.67
8.66
1.91
1.95
10.14
1.91
1.95
10.14
GoatMilk
SoyDrinks
SoyMilk
2.85
2.56
13.47
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9/2/2016

Euromonitor International - Analysis

Euromonitor International - Analysis

98,139.96 102,065.56 105,739.93 111,226.98 116,460.14

98,139.96 102,065.56 105,739.93 111,226.98 116,460.14

Euromonitor International - Analysis

104,946.22 112,214.05 118,891.75 123,647.42 128,346.02 132,966.48

104,946.22 112,214.05 118,891.75 123,647.42 128,346.02 132,966.48

276,410.70 291,389.01 305,544.78 317,629.13 331,681.10 345,380.58

Euromonitor International - Analysis

Euromonitor International - Analysis

100.00 100.00 100.00 100.00

116,460.14 121,355.69 126,002.34 130,654.05 135,360.00 140,130.00

116,460.14 121,355.69 126,002.34 130,654.05 135,360.00 140,130.00

Euromonitor International - Analysis

132,966.48 136,963.08 140,398.30 144,462.37 149,126.54 154,379.29

132,966.48 136,963.08 140,398.30 144,462.37 149,126.54 154,379.29

345,380.58 358,049.08 369,932.96 382,514.23 395,813.57 409,853.19

Euromonitor International - Analysis

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