Over the forecast period, it is expected that demand for other plant-based milk will grow at the expense of soy drinks. More local players are expected to appear in the category.
The relatively higher price of imported plant-based milk, oat milk in particular, might lead more consumers to opt for local brands in the future. While consumers with a higher income will continue to opt for their favourite brand, consumers whose purchasing power has come under pressure during the COVID-19 pandemic, further aggravated by soaring inflation in 2022, are likely to opt for lower priced, local brands instead.
Taiwanese consumers generally prefer plant-based milk with a lighter texture. As such, some consumers prefer soy drinks to oat milk, which, depending on the brand, has a thicker consistency.
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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 Definitions
This report originates from Passport, our Plant-based Dairy research and analysis database.
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