Binggrae steps up global push for Banana-Flavored Milk

Binggrae Co. is accelerating its overseas expansion of Banana-Flavored Milk as the iconic South Korean product gains popularity among international consumers.

According to Binggrae on Sunday, overseas sales of its banana milk rose 12.7 percent on year in the first nine months of this year, maintaining double-digit growth. Sales last year were up 96 percent from 2021, while the number of export markets increased from 18 to 25.

Launched in 1974, Banana-Flavored Milk has been Korea’s top-selling processed milk product for more than 50 years. To strengthen its global presence, Binggrae established a subsidiary in Australia in December last year, its fourth overseas base after China, the United States, and Vietnam. Local OEM production began in January.

The Australian facility is expected to help the company enter the European Union, where dairy import regulations are stringent. Binggrae showcased its Australian-made products at SIAL Paris, a major global food exhibition, this month.

The company has also developed shelf-stable versions in aseptic cartons to extend the product’s shelf life and support exports. It has diversified its lineup with strawberry, melon, vanilla, coffee, and taro flavors, while halal certification has helped open markets in the Middle East.

Binggrae is also targeting foreign tourists in Korea through dedicated displays at Olive Young stores in major tourist districts, including Myeongdong, Hongdae, and Busan, as well as at Incheon International Airport and Jongno in Seoul.

The marketing push has helped popularize Banana Milk Latte, a drink combining the banana milk with Americano coffee and ice. The product has gained international exposure through social media posts by model Hailey Bieber, who has about 59 million Instagram followers.

Nvidia Corp. Chief Executive Officer Jensen Huang has also drawn attention to the brand by handing out the banana milk during visits to Korea last year and in June this year. His daughter, Madison Huang, was also spotted drinking the product at one of his events.