Kuang Pei San Food Products Plc, the manufacturer of the Pumpui brand of canned fish, forecasts Thailand's canned fish market to be stable as the market has become more competitive.
Pavita Tohtubtiang, vice-executive chairman of Kuang Pei San Food Products, expects the local canned fish market to be worth 8 billion baht this year, below the 9 billion baht recorded prior to the pandemic in 2019.
She said during the pandemic, canned fish sales boomed as customers sought supplies of canned food.
"The market this year could be stable. Moreover, we found that after the pandemic, competition in the market intensified," Ms Pavita said.
Canned food is often considered to be an inferior product, with demand for such goods increasing when people experience a drop in income.
Ms Pavita did not reveal a clear target for the company this year, but said last year the company's revenue reached 1.2 billion baht.
She said the company has partnered with Petch Saharat Industry Co Ltd to enhance the product portfolio by launching a new product called Mum Zap X PUMPUI.
The product will be distributed by Loxley Trading Co Ltd, the consumer goods distribution arm of trading conglomerate Loxley Plc.
Suroj Lamsam, chief executive of Loxley, said during the first phase, the co-branded products were to be distributed via the traditional trade network. This was scheduled to begin late last month with the Northeast being the first region to begin distributing the product.
Distribution would then be expanded to modern trade outlets including leading department stores, supermarkets and convenience stores across the country in July.
"This co-brand expects to achieve 100 million baht in sales in its first year. It has also set its sights on acquiring a share of at least 5% of the market in the canned fish segment, or recording 400 million baht in sales within three years," said Mr Suroj.