Fonterra Brands Thailand, the marketer of Anlene adult milk, plans a 300-million-baht refreshment scheme after 22 years in Thailand, aiming to triple sales growth this year.
Paul Andrew Richards, managing director for Thailand, Indochina and the Philippines, said the 300 million baht will be spent on a new brand, packaging and formulation for Anlene.
Aside from the formula upgrade, the company has kicked off its "We Are More" campaign with Sarunrat "Lydia" Deane, who is serving as brand ambassador to attract younger buyers.
A new product, Anlene MoveMax, which recently hit the market, is being touted as promoting healthy bones, joints and muscles for better mobility.
The new products are intended to lure a wider range of customers -- those aged 20-80 -- rather than the 50-plus demographic the company has attracted over the past 22 years.
With the planned reboot, the company expects sales to grow by 15-20% annually over the next three years, compared with an average of 5% in recent years.
"Our sales growth rate this year will be 3-4 times higher than last year," said Supatra Pronanunt, director of sales and marketing. "The number of health-conscious people is growing, while Thailand is now an ageing society and people are focusing more on prevention."
Mr Richards said dairy consumption is rising across Southeast Asia, with dairy demand up 4-5% a year. On top of that, the company sees some growing consumer trends in Thailand, with people placing more focus on better nutrition and healthier lifestyles through different stages of their lives.
"We see a huge opportunity in Thailand," Mr Richards said. "Thailand is a strategic market and our biggest one in Asean, followed by the Philippines, Vietnam, Myanmar, Laos and Cambodia."
He said per capita consumption of dairy products in Thailand is 19-20 litres per year, compared with 50-55 litres in Singapore and 200-300 litres in New Zealand.
Thailand's market for adult milk increased by 5% to 2.5 billion baht in 2017. Anlene is the market leader in the adult milk segment, with a market share of 40%, followed by Nestle's Bear Gold products.
Fonterra is a New Zealand-based global dairy nutrition company owned by 10,500 New Zealand farmers and their families.
Fonterra has several branded products in Thailand, including Anmum, a milk and formula brand aimed at women who are looking to start families, pregnant or breastfeeding; Anchor, a butter and cheese brand; and NZMP, a provider of dairy ingredients to food makers.