Thailand-based food manufacturer Thai Union has just revealed its goals for its plant-based meat and seafood range OMG Meat to generate USD 30 million in revenue by 2025.
Thai Union’s first alternative protein brand OMG Meat includes meat and seafood products. While the brand was launched only in 2021, Thai Union sees plant-based products as an integral part of its strategy. Specifically, Gen Z and Millennials especially are increasingly experimenting with flexitarian diets with more sources of proteins. The company believes that it can attract these client segments by creating more and varied products such as plant-based alternatives.
While OMG Meat is present in more than 100 supermarkets and physical retail outlets in Thailand, the brand is also available on the e-commerce channel. Moreover, Thai Union plans to sell OMG Meat products in in two European markets by early 2023, starting with alternative seafood. Crucially, the company expects that by 2025 its alternative protein business will generate USD 30 million in revenue.
The company has developed products such as plant-based crab and tuna in addition to non-seafood options like pork buns and chicken nuggets. In order to accelerate product development, Thai Union also set up an Alternative Proteins hub in Thailand where it supports its own manufacturing and other food companies interested in co-manufacturing.
(Source: Food Navigator Asia)