The instant food sector in Thailand is predicted to grow at a rate of 5% a year, although manufacturers are warned that competition is intensifying.
A report released today [Tuesday] by the Thai News Agency (TNA) revealed that the growth of instant foods is being prompted by the current tough economic climate, as consumers are anxious to save, and keep instant foods for consumption in case of emergencies.
Pipat Paniengvej, president of Thai President Foods, is quoted in the report as saying however that competition in the instant food business remains intense, especially in terms of both product prices and quality.
Paniengvej added that producers are currently responding to the consumer demand for new flavours and varities. Thai President, for example, is due to launch several new flavours of noodles soon in response to this.