Singapore-based OATSIDE has recently expanded its product line-up to include its own series of ice cream, using its signature oat milk as the main ingredient.
The new ice cream series is currently available in 3 flavors namely chocolate, peanut butter cookie dough, and coffee with mini chocolate chips. Currently, it is retailed at S$12.50 (US$9.30) for a 473ml tub.
OATSIDE enters the frozen category a year after securing Series A funding for its expansion in the Singapore market. According to Beneditc Lim, CEO and Founder of OATSIDE, “Plant-based non-dairy ice creams pose a technical challenge and tend to be icy versus their dairy counterparts, but we’ve managed to achieve a rich, creamy non-dairy ice cream using our classic OATSIDE oat milk as the base ingredient.”
According to some sources, OATSIDE oat milk is produced in Bandung in West Java, Indonesia using roasted Australian oats.
OATSIDE ice cream might take off on the back of growing popularity of oat milk products in the region, however the high prices might put off consumers in the longer term. As such, tremendous efforts are needed to bring down production costs to match their dairy counterparts.
According to a separate report, the plant-based dairy alternative market is estimated to reach US$28 billion by 2030 with a CAGR of 8.7%. This market is estimated to have 10% share of the Asian dairy market, and it has significant potential as up to 90% of Asians are believed to be lactose-intolerant.
