English
Philippines: Thai food sector offers big opportunities – EMB
Filipino food manufacturers should innovate, adopt aggressive marketing strategies, and take advantage of business opportunities in Thailand’s packaged food sector, according to the Export Management Bureau (EMB).
In its monthly Euromonitor Digest online publication, the bureau, an attached agency of the Department of Trade and Industry (DTI), said major distributors there want to offer unique imported items, while local manufacturers continue to introduce products to increase their value share.
“Prevalent activities include aggressive advertising and regularly organizing events to increase customer loyalty,” Euromonitor said.
“Innovation in packaging is another technique to stand out from the crowd and inspire consumers to pick certain brands over their competitors,” it added.
Urbanization, smaller household sizes, and longer working hours are becoming more significant in Thailand, according to the publication.
More urban families and working adults with limited time to cook meals at home prefer products that are “more convenient to eat and easier to prepare, without compromising on taste,” it said.
“Packaged food manufacturers that can adapt to this growing demand for convenience…are more successful in capturing value share,” Euromonitor added.
Convenience is also a factor in other categories.
“Products that are available in smaller sizes, [have]innovative packaging [and]a longer shelf life, and can be easily consumed on the go are recording stronger growth,” the publication said.
”Manufacturers are expected to offer greater product variety to meet this growing demand…” it added.
“This will require extra investments in terms of product innovations and improvements in the quality of ingredients, which may [not only]lead to higher production costs, but also higher margins,” Euromonitor said.
Source: http://www.manilatimes.net/thai-food-sector-offers-big-opportunities-emb/389336/