General Mills makes official entry to Thai market

"We been distributing our Wanchai Ferry frozen ready-meal products to local hypermarkets’ and supermarkets’ shelves since last June and have so far grabbed almost 5 per cent of the market share in those retail channels. Within the next two years, we expect a 15-per-cent share," said Wuthichai Ratanasumawongs, managing director of General Mills (Thailand).

Despite this early success, the official launch was delayed until yesterday because of the flood disaster late last year.

Wuthichai said that founded in 1866, General Mills was based in Minneapolis, Minnesota, and had global net sales of US$14.9 billion (Bt466 billion) in 2011. The company has operations in more than 130 countries, selling well-known brands including Haagen-Dazs, Nature Valley, Wanchai Ferry, and Old El Paso.

He said General Mills had five core business groups, which are convenient mill solution, ??? healthy snacks, super-premium ice cream, cereal, and yoghurt.

S&P Syndicate is the manufacturer and co-packer for Wanchai Ferry frozen-meal products in Thailand.

Wuthichai said the local frozen-ready-meal category was estimated to be worth more than Bt3.1 billion and was expected to grow by 8-10 per cent annually over the next five years. The hypermarket and supermarket channels represent 15-20 per cent of the market.

"We are developing our Wanchai Ferry products to suit convenience stores better in the near future," he said.

"Chinese food is very popular among Thais, especially noodles. They believe that good-quality noodles originate from China. Chinese food in general, and noodles in particular, are under-represented in the category of frozen ready-meal products."

Wanchai Ferry was introduced to the world by Madam Chong nearly 40 years ago. She was a Chinese woman who began selling dumplings from a cart along the streets near the Wanchai ferry terminal in Hong Kong. She adopted the name Wanchai Ferry from the place where she first sold her famous dumplings.

Wuthichai said those who consume frozen ready meals tend to be Bangkok residents between 25 and 49 years old, both men and women, of upper middle incomes.

Of the total Thai population, 16 per cent consume frozen ready meals at least once a month. On average, people consume about two to three packs per month. ?? these 2 sentences are contradictory.

"Nowadays, people lead busier lives and must struggle with multiple responsibilities both at home as caretakers and out of the home in their jobs. Frozen ready meals have become a convenient solution to address people’s busy lifestyles," Wuthichai said.

He said consumers wanted cleanly prepared, hygienic and good-tasting meals. But they also demand more variety, fresher taste and better-quality ingredients.