Special occasions are increasingly helping to drive demand for chocolate confectionery in Thailand with consumers looking for presents especially on Valentine’s Day and in the run up to Christmas. During these festive seasons, brands often launch special packaging designs to make them more attractive as gift items.
Pack size and new flavours remained the most common focus in new product development in 2018/2019. To attract young consumers players started launching new and unusual flavours, with Nestlé (Thai) Ltd, for example, launching its new Kit Kat Rose, Kit Kat Thai tea and Kit Kat Duo Milk Tea lines at the end of the review period.
A growing number of premium brands entered the market over the review period. Premium brands like Godiva and Royce also have mass market product lines that are available through upscale supermarkets.
Multinational Nestlé (Thai) Ltd extended its lead in chocolate confectionery in 2019 thanks in large part to the strength of its popular Kit Kat brand. The company’s Kit Kat and Milo brands benefit from widespread distribution and strong marketing, including on television, online and in printed media.
Even though the share of premium chocolate in the wider chocolate confectionery category remained low in 2019, more premium products and brands are being launched every year. Premium brands like Godiva and Royce are expanding their retail networks in Bangkok, while other premium brands, imported by independent retailers, can also be found in high-end supermarkets throughout Thailand, such as Tops Market, Gourmet Market and Villa Market.
As the majority of Thai consumers are still price-sensitive, the use of a pricing strategy continues to work well in some parts of the country, especially in rural areas outside of Bangkok. Brands such as Jinny, Bon o Bon, and Beng Beng kept their prices significantly lower than other mass brands in 2019 in order to attract and target young children and people with lower incomes.
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This industry report originates from Passport, our Packaged Food market research database.