With Thailand’s economy projected to experience minimal growth this year, Nature Best Food Co., Ltd., a Thai importer, manufacturer, and distributor of seaweed products, is shifting its focus towards export markets.
The Thai GDP is anticipated to grow by only 1.8% in 2025, according to the National Economic and Social Development Council, primarily due to global economic uncertainties.
Thanakorn Burintarachart, managing director of Nature Best Food, noted that sluggish consumer spending in the first quarter indicated a potential slowdown in overall economic growth, prompting the company to strengthen its export efforts, which are expected to experience faster growth.
“This move will help compensate for slower domestic market expansion,” he explained.
While the local seaweed snack market remains highly competitive, the company sees promising opportunities abroad, particularly in the Middle East and Europe, where seaweed snacks are still relatively new to many consumers.
The company is also targeting expansion into China, Africa, Australia, and New Zealand, citing large and expanding working-age populations in these regions as key target demographics.
The primary export markets include Southeast Asian countries such as Cambodia, Laos, Myanmar, Vietnam, Indonesia, Brunei, and the Philippines, as well as East Asian markets including South Korea, Taiwan, and Hong Kong.
“These regions have sizable populations with a significant proportion of working-age consumers, who are the main buyers of seaweed products,” Mr. Thanakorn stated.
Nature Best Food plans to adjust its sales distribution, aiming to shift from last year’s 60:40 domestic-to-export ratio to a balanced 50:50 this year, and further to 40:60 in 2026.
Seaweed products currently constitute 80% of the company’s total revenue.
Regarding the US market, exports remain limited, representing less than 1% of total sales. However, the company sees growth potential if tariff issues are resolved.
On the domestic front, the company continues to focus on increasing brand awareness among younger consumers.
The firm is also facing challenges, notably rising production costs. Seaweed prices have surged above pre-pandemic levels due to fluctuating temperatures affecting supply. Additionally, Thailand’s minimum wage increase has prompted the company to rely more heavily on automation to maintain competitiveness.
