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| Orion's Choco IQ and Proyo! dairy products to be launched in Vietnam in collaboration with Dutch Mill / Courtesy of Orion |
By Kim Jae-heun
Orion has joined hands with Thailand's No.1 milk beverage company Dutch Mill to enter Vietnam's dairy market, the company said Tuesday.
According to the company, its Vietnam branch signed a business agreement last December with Dutch Mill to be the exclusive seller of its products in Vietnam's market.
"Our entry to Vietnam's dairy market is meaningful in that our local branch has established a new growth engine in the new business category," an Orion official said. "Based on our differentiated sales capability, we will try to settle in the local market and increase our market dominance as a top food firm there."
Orion will first introduce two new product lines under Dutch Mill ― Proyo! and Choco IQ ― this month and launch others later on.
The company plans to expand its sales channels for Dutch Mill products at general retail shops, which account for 70 percent of the local retail market, and to large discount stores, convenience stores and online malls.
Vietnam's dairy market is estimated at 7 trillion won ($5.32 billion) as of 2021. There are about 1.5 million babies born per year in Vietnam and the demand for high-quality dairy products is increasing due to people's keen interest in their children's growth.
Founded in 1984, Dutch Mill accounts for 70 percent of the Thai milk beverage market with products such as milk, yogurt and soy milk. It currently exports to 20 countries around the world.
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