Oatside – branded as the first “full-stack” oat milk brand originating from Asia – has debuted its plant-based milk alternatives range of three variants, Barista Blend, Chocolate and Chocolate Hazelnut. 

The Singaporean company has raised US$22 million to date, recently attracting global food and agribusiness private equity fund manager Proterra Investment Partners Asia as its lead investor.

The beverages will launch in selec market locations across Asia this year.

“We’ve worked hard to develop a plant-based milk for Asia that doesn’t feel like a compromise on quality, taste or texture,” remarks Benedict Lim, founder and CEO of Oatside.

“We hope to contribute to a growing stable of plant-based products wher picking the sustainable option doesn’t taste like ‘doing your part’.”

The plant-based milk sector is expanding rapidly in Asia and is forecast to become a US$12.3 billion market by 2024, with oat milk the fastest-growing category, Proterra Asia reports. But the category has seen the introduction of new entrants, such as potato milk, over the last year.

Suitable for lactose-intolerant consumers, the oat milks are created without artificial flavors, gums, emulsifiers, preservatives or coloring.Beta-glucan-rich and free of artificials
Oatside comprises in-house manufacturing capabilities and full control over its sourcing and production process.

Suitable for lactose-intolerant consumers, the oat milks are created without artificial flavors, gums, emulsifiers, preservatives or coloring, while containing beta-glucans, an important contributor to heart health.

Beta-glucans are also in the spotlight for their ability to reduce cholesterol and boost immunity while being low in saturated fats. 

Greener oats
Oatside is marketed as a sustainable product, as the production of oat milk requires 90% less land and water while producing 70% fewer emissions than cow’s milk. 

In addition, Oatside sources Rainforest-Alliance certified ingredients and uses recyclable paperboard packaging from Forest Stewardship Council certified sources.

“We believe plant-based milk is a high growth sector in Asia. Oatsides offering fits perfectly into our approach of investing in the most exciting food trends in the region. Plant-based milk is the sustainable future of milk,” comments Tai Lin, managing partner at Proterra Asia.

“The superior health and sustainability benefits of Oatside align with our focus on backing high-quality companies which have the potential to sustainably feed the world’s rapidly growing and urbanizing populations. Nowher is this trend more prevalent globally than in Asia.”

Proterra’s food strategy
Proterra Asia’s Food Strategy supports investments that build food infrastructure across Asia, provide access to more sustainable sources of protein and positively impact local communities, such as smallholder farmers.

The firm previously invested in the Chinese yogurt brand Simply Love, which focuses on the premium low-temperature segment. The business has grown to a 2% market share (6th largest) in China, with sales growing at a compound annual growth rate of 109% over the past five years based on the company’s sales data.

This follows Proterra Asia’s previously announced partnership with a leading alternative protein company to build a large-scale plant protein extraction facility in Singapore to meet the growing demand across Asia for the plant-based egg product Just Egg.

The Proterra Asia Food Strategy is accessible to European investors via Proterra Asia’s distribution partnership with global investment management business Fidante Partners.