With the Thai snack market expected to grow by 2-4% this year, Pepsi-Cola (Thai) Trading Co Ltd, the producer and distributor of Lay's potato chips, plans to focus on value-oriented products for its customers.
According to a report by Kasikorn Research Center (K-Research), the Thai snack industry is predicted to reach 50.4 billion baht this year, up 2% from 2024.
This marks a decrease from the 6% growth anticipated for 2024, based on K-Research's report.
Chonlakorn Apichattham, Pepsi-Cola (Thai) Trading's marketing director for Thailand, said the company expects the market growth to align with the research centre's prediction of 2-4%.
She said fried potato snacks account for a third of the snack market.
Ms Chonlakorn said Thailand's economic challenges could influence various industries, prompting consumers to be more conscious of their spending and seek out products that deliver greater value.
In response, Lay's will maintain its focus on highlighting product value and has increased product volumes since last year.
The company has identified younger customers such as Generation Z as key targets.
Flavour varieties and promotions are considered vital for customers, she said.
To celebrate its 30th anniversary, the company plans to launch a marketing campaign that will reintroduce flavours such as salted egg.
The recovery of Thai tourism is expected to drive the company's growth this year.
With marketing efforts, effective cost management and tourism recovery, the company expects Lay's sales growth to outpace the overall market's rate, said Ms Chonlakorn.
