Extra fish canning corporations in Thailand are more and more betting their future on producing pet meals, a course made clear by the successes of the first-movers amongst them and the pet meals market‘s spectacular resilience throughout pandemic lockdowns.
This October alone, three well-established canned seafood producers introduced their plans to fill extra pet meals bowls than dinner plates subsequent yr. They’re Sea Worth PLC, Asian Alliance Worldwide (AAI) and Pataya Meals Group (PFG).
Sea Worth, one of many world’s main producers of canned tuna and Thailand’s No. 2 canned tuna producer, stated it would begin focusing extra on its pet meals companies, which presently account for 40% of their operations. Canned fish resembling tuna, mackerel and sardines for human consumption represents 60% of the corporate’s enterprise.
Sea Worth, which made 30 billion Thailand Baht in gross sales revenues final yr, plans to take a position over 1 billion baht ($1 = THB 38+) over the subsequent 5 years to supercharge its pet meals manufacturing. The corporate produces a number of premium manufacturers of moist pet meals in several packaging media.
Asian Alliance Worldwide (AAI) has gone forward to listing its frequent shares on the Inventory Trade of Thailand (SET) beginning in November with a purpose to fund its extra investments in pet meals manufacturing. With complete paid up capital of 1.7 billion baht, AAI is providing 637.5 million shares from its 1.7 billion complete extraordinary shares in an preliminary public providing (IPO) for five.55 baht every.
The corporate hopes the IPO proceeds will present it with 2.2 billion baht it wants to spice up its pet meals manufacturing capability by 40,000 tons within the subsequent three years, which can virtually double its present pet meals operations at 42,000 tons per yr.
AAI is thought within the business for its ready-to-eat fish merchandise for human consumption and a wide-range of dry and moist pet meals (Monchou and Maria manufacturers) for canine and cats.
Additionally vying for extra pet meals market share is PFG which introduced a brand new pet meals model, presumably for canine, subsequent yr. PFG is the maker of varied shelf secure fish merchandise below the Nautilus model that’s common in Thailand and France. Its pet meals line is about 40% of the corporate, with Regalos because the flagship model of cat meals. PFG additionally has an OEM pet meals operations. PFG’s rapid plan is to earn greater than half of their pet meals revenues from their home manufacturers and to see Regalos distributed in additional nations within the area subsequent yr.
Alma Buelva is a journalist from the Philippines. When she’s not writing about enterprise and expertise, she devotes her time to taking good care of animals and writing about them, too.