The Thai unit of Swiss food giant Nestlé has revealed plans to launch a new low-fat cereal on the Thai cereal market.
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Nestlé’s Nesfit will be aimed at the adult cereal market, a fast-growing sector which accounts for around 14% of Thailand’s total cereal market. Baby cereals make up the majority (70%) of the Thai cereal sector, while family cereals account for the remainder.
“Sales of adult cereals are growing at more than 20% per annum compared to the industry average of around 10%,” Siriporn Ruangthammakit, a marketing manager at Nestlé, was quoted by the Nation as saying.
“With the launch of Nesfit, we hope to increase our share to one-third of the adult cereal market by the end of this year,” Siriporn said, adding that the company would spend more than Bt20m to promote the brand.
Nestlé currently enjoys a 60% share of the total cereal market in Thailand, 70% of the baby cereal sector and 50% of the family cereal sector.
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By GlobalDataNesfit, which will be positioned as a low fat meal, with high nutritional value, few calories and a high-fibre content, will also be launched in Malaysia, the Philippines, Singapore and Hong Kong.
