Thailand eyed as potential market for Pinoy food firms

CEBU, Philippines — Filipino companies, especially those engaged in food and beverage businesses should start looking at Thailand as their next market destination.

The Euromonitor Digest, the online publication of the Export Management Bureau of the Department of Trade and Industry (DTI), suggested that Pinoy firms should take advantage of the rising demand for fresh food in Thailand as more consumers become health-conscious.

The market advisory arm of DTI also noted the rise of foodservice operators serving less processed and more natural food options.

“As Thailand develops, consumers’ lives are becoming increasingly fast-paced, and they have little time to cook. At the same time, consumers now perceive health as a lifestyle choice, and are willing to pay for foods that offer better nutrition and fewer preservatives,” it said.

The report further explained that fresh food is perceived as superior than packaged food, as it is lower in preservatives and fully natural.

The broader availability of organic fresh food through modern grocery retailers and online channels has made it easier for consumers to consider organic options, it noted.

Consumers are demanding convenience, affordability, and nutrition, with less regard for product prices. Price is no longer the main deciding factor in the purchasing decision. Provenance, quality, and nutritional benefits are accorded higher weight compared with price,” the report added.

The Euromonitor Digest further said it is likely that consumers will gradually look for more convenient food products with extra health benefits.

“Fresh food manufacturers are likely to respond with value-added products which speed up the food preparation process in exchange for higher price points,” it said.

Consumers are choosing to eat out at organic restaurants or order healthy food delivery to justify their lack of cooking with the aim of achieving a healthy work-life balance amid busy lifestyles.

In this regard, more restaurants and food delivery services are meeting consumer demands by providing healthier, organic, low calorie or superfood-rich options.

Hence, there is expected to be a greater need for fresh food for foodservice, the report said. (FREEMAN)