Extra fish canning firms in Thailand are more and more betting their future on producing pet meals, a path 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’s going to begin focusing extra on its pet meals companies, which at present 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 following 5 years to supercharge its pet meals manufacturing. The corporate produces a number of premium manufacturers of moist pet meals in numerous packaging media.
Asian Alliance Worldwide (AAI) has gone forward to record its frequent shares on the Inventory Change of Thailand (SET) beginning in November so as to fund its further investments in pet meals manufacturing. With whole paid up capital of 1.7 billion baht, AAI is providing 637.5 million shares from its 1.7 billion whole abnormal 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 nearly double its present pet meals operations at 42,000 tons per yr.
AAI is thought within the trade 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 assorted shelf secure fish merchandise beneath the Nautilus model that’s fashionable 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 know-how, she devotes her time to caring for animals and writing about them, too.
