The Thai unit of Nestlé reportedly plans to spend more than Bt1.1bn (US$27.1m) in an effort to increase its share of Thailand’s Bt5.4bn ice cream market.

Thailand’s Nestlé Ice Cream has allocated Bt800m to spend on marketing this year, while Bt350m has been set aside for doubling the capacity of its ice cream factory in Min Buri over the next three years, reported The Nation.

General manager Dr Hans-Ulrich Mayer said the company has forecast 40% sales growth for the year. Nestlé Ice Cream said it has a 38% share of the Thai ice cream market, while rival Wall’s has a market share of 40-45%.