SINGAPORE – Swedish alternative dairy company Oatly has partnered with Asian food and beverage company Yeo Hiap Seng Limited (Yeo’s) to open a new oat milk facility in Singapore.
The facility, which started operations in July, is located at Yeo’s Senoko Way site in Singapore and is Oatly’s first production venture outside Europe and North America.
The site will produce Oatly’s oat milk for the Asian market and will support the brand’s growth in the region.
“Despite ongoing Covid-19 restrictions, we are thrilled that the production facility opened in July. Oatly is grateful to Yeo’s and the Singapore government for their unwavering support during this challenging time, ” David Zhang, Asia president of Oatly said.
“This new facility will help drive Oatly’s expansion into new and existing markets in Asia and support us to drive the shift from dairy to oat milk for the benefit of people and planet”.
The opening celebration saw Alvin Tan, Singapore’s minister of state for trade and industry, touring the facility.
As plant-based eating continues to surge in popularity, Oatly is seeing success across the globe — its Q2 results forecast a 64% annual revenue increase.
In August, the company announced plans to open its biggest North American factory yet, which will produce up to 150 million litres of oat milk per year.
Oatly recently celebrated a successful IPO which left it with an enterprise value of almost US$13 billion, allowing it to expand further into China through new partnerships with local players.
The company recently launched a new vegan ice cream flavour in the UK to take advantage of the popularity of plant-based dairy alternatives.
The oat-based Mint Chocolate dessert is described as “fresh” and “leafy green”, with dark chocolate chunks and no synthetic ingredients.
The new flavour is the latest in Oatly’s plant-based ice cream range, which also contains the flavours Fudge, Strawberry, and Salted Caramel.
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