Malt-based hot drinks recorded the fastest off-trade volume and value growth in 2018 to consolidate its dominance of the category. The thick and malty products offered by the leading brands, Ovaltine and Milo, cater to local tastes.
The developing coffee and tea drinking cultures provide growing competition to other hot drinks. In addition to greater awareness of premium coffees and teas and more sophisticated drinking experiences, higher disposable incomes encourage consumers to try higher-priced alternatives.
Manufacturers position other hot drinks as healthier options to grow sales. Parents and children are the target audience of malt-based hot drinks players, which often position their products as healthy breakfast choices.
Strong branding underpins AB Food & Beverages’s dominant position in the category. Many Thais consume malt-based hot drinks as a staple from a young age; and Ovaltine’s strong health positioning and marketing pique the interest of active consumers.
Nestlé (Thai) continued to gain retail value share in 2018. The company has tapped into the demand for healthier beverages by promoting the energy and nutritional benefits of Milo malt-based hot drinks and Nesvita other plant-based hot drinks.
Companies are dealing with rising production costs, partly due to the use of higher-quality ingredients and marketing support for brands. They are also investing in packaging to provide types and sizes that respond to convenience and active lifestyles.
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