Thai Wah Group has unveiled its 2030 strategy, with a focus on expanding its food business unit.
Ho Ren Hua, chief executive of Thai Wah, said despite a challenging global environment, the company continues to demonstrate agility and resilience as a key player in the food industry.
The company's long-term vision, dubbed "Thai Wah 2030", aims to double its food and high-value applications portfolio by 2030, focusing on top-performing product categories and expanding into new geographical markets.
Thai Wah also plans to diversify its product portfolio beyond noodles to include rice paper, sweet potato noodles, fresh and dry vermicelli, bean sheets, instant pouches, fresh and dry rice noodles, organic noodles, and ready-to-eat and ready-to-cook solutions.
Patcharin Wachiraworakam, senior associate vice-president and head of the food business at Thai Wah, said the company traditionally focused on the business-to-business segment, but is now expanding into the business-to-consumer (B2C) market.
"As we shift more towards the B2C segment, we are enhancing our products by adding value, increasing convenience, and expanding our variety to include not only noodles, but also organic options, cup noodles and instant pouches," she said.
The company also wants to reposition its offerings to align with growing consumer demand, such as for healthier, gluten-free products.
Over the past few years, the food business unit has recorded double-digit sales growth.
In 2024, its sales registered 2.7 billion baht, up from 1.5 billion baht in 2020.
"We set a food business unit sales target of 3 billion baht by 2027 and 4 billion by 2030," said Ms Patcharin.
Thai Wah also wants to maximise margins by optimising supply chain costs, improving operational efficiency, and leveraging technology to unlock greater value in its core starch business.
Mr Ren Hua said amid global trade uncertainty, China remains one of the company's strongest markets, and growth in the US market should also continue.
"We will continue to grow in both the US and China," he said.
Mr Ren Hua also highlighted high growth potential in Southeast Asia, India and the Middle East, driven by factors such as rising GDP and growing populations.
For the first quarter of 2025, Thai Wah reported net sales of 2.30 billion baht and a core earnings before interest, taxes, depreciation and amortisation of 285 million baht.