Lactasoy

Business
Editorial Staff

Lactasoy Co, maker of Lactasoy soymilk, increases its marketing budget by 25% to 400 million baht to promote Lactosoy soymilk this year.

Monlika Chiraphadhanakul, the company’s general sales manager, said that after the soymilk market showed the better sign of recovery since last year, the company is moving further to expand its soymilk business in 2023. The marketing budget is increased by 20-25% from the previous year to 400 million baht to promote Lactasoy this year.

Monlika Chiraphadhanakul

To do so, the company will continue to use the music marketing, featuring artists from “Paper Planes” pop-rock band to be its presenters and create brand awareness of Lactasoy 125 ml size. The company believes that these artists will get a warm welcome from families, young children and general public.

Paper Planes

Due to health conscious trend, the company will adjust formula of Lactasoy Chocolate soymilk to have less sweet and launch new products to the market this year. The company also plans to increase its production capacity at Prachinburi’s factory for additional 300 cartons this year from 1,700 cartons in 2022. This is aimed at supporting the further growth of domestic and Indochina markets. It also plans to open two new Lactasoy’s warehouses in northeastern region in the third quarter of this year.

Lactasoy forecasted that Thailand’s soymilk market in 2022 would be valued at 19 billion baht, up from 17 billion baht in 2021. The company earned sales of 10.61 billion baht in 2022, thanks to the easing of pandemic situation, the recovery of tourism business and the wave of plant-based trend which helped boost soymilk consumption.

Lactasoy X Paper Planes

In addition to domestic market, the company also plans to launch more active marketing and advertising campaigns in Cambodia, Laos and Myanmar this year. As a result, its sales are expected to grow by 5-8% this year from last year sales of 10.61 billion baht. About 80% of sales will come from domestic market and the remaining from overseas market.