Thai Union’s sub-unit eyes ASEAN canned tuna market

The canned tuna market is expected to boom after the Asean Economic Community takes effect in 2015, as Asean consumers will welcome greater alternatives, said managing director of T Holdings, a unit of Thai Union Frozen Products, Wichai Lamsangchan.

In a Bangkok Post article, he said the firm will launch big marketing campaigns this year to stimulate local and regional consumption.

Thailand's canned fish market is worth THB 6.3 billion (€157.6 million/$200.4 million), with around THB 600 million (€15 million/$19.1 million) to THB 700 million (€17.5 million/$22.3 million) contributed by canned tuna.  T Holding’s Sealect brand is the market leader in this segment with a 45 percent share, according to the company.

It believes overall sales this year will top THB 1 billion (€25 million/$31.8 million), with Sealect capturing half the market value as the company embarks on more aggressive marketing plans, which include THB 200 million (€5 million/$6.4 million) for rebranding. It plans to double its sales to THB 4 billion (€100.1 million/$127.2 million) within five years.

The company also exports canned tuna to Indonesia and has ambitious plans for regional leadership, said Lamsangchan. It has started marketing campaigns in Indochina countries like Vietnam and Cambodia last year and plans to launch a new recipe in Asean, Wichai added.

Sealect tuna will have a different logo and packaging to create a premium look. It re-launched the new look early this month, with TV commercials slated for the end of the month, followed by cooking shows and a roadshow.

T Holding will also relaunch its canned sardines and Fisho fish snacks. It aims to lead the fish-snack market in five years from being among the top three today.

Sales of T Holding were THB 2 billion (€50 million/$63.6 million) last year, and it is expected to expand by 15 to 20 percent this year. Some 60 percent  was from the Sealect brand, 30 percent from Fisho, and the rest from pet food.