Thai Union Group unveiled its bold “Strategy 2030” roadmap, targeting USD 7 billion in revenue and a twofold increase in earnings by 2030. Announced at the Anantara Siam Bangkok Hotel in November 2024, under the theme “Turning the Tides,” this initiative reflects the company’s focus on sustainable growth and industry leadership.
Vision for Future Growth
Thai Union’s President and CEO, Thiraphong Chansiri, highlighted the company’s ambitious goals to navigate global challenges and meet evolving consumer needs. The strategy is anchored in a vision to become a global leader in marine health and nutrition, emphasizing innovation, sustainable practices, and operational excellence.
Currently generating USD 3.9 billion in annual sales, the company aims to grow EBITDA from USD 400 million to USD 700-800 million through organic growth and strategic mergers and acquisitions.
Strategic Pillars Driving Expansion
Chief Strategy and Transformation Officer Paul Herholz identified three pillars as the foundation of the Strategy 2030 framework:
Core Business Optimization
Strengthening core product lines like ambient, chilled, and feed products to enhance cash flow for future investments.
Pursuing High-Growth Sectors
Investing in areas like pet care, value-added frozen products, and culinary solutions to establish sustainable revenue streams.
Venturing into Emerging Markets
Exploring aquaculture ecosystems and alternative proteins to align with shifting consumer demands.
Key Transformation Projects
The roadmap includes two major initiatives:
- Project Sonar: Aims to reduce costs by USD 75 million annually starting in 2026, reinvesting savings into growth and capability building.
- Project Tailwind: Focused on accelerating the growth of the pet care segment, targeting an additional USD 50 million in annual profits from 2027.
These projects aim to enhance operational efficiency and support Thai Union’s ambitious goals.
Global Efficiency and Innovation
Ludovic Garnier, Thai Union’s CFO, emphasized cost optimization through global supply chain integration and digital transformation. Recent initiatives include sourcing regionally and enhancing safety via digital systems. Additionally, the company has invested in innovation hubs and expanded its digital marketing capabilities.
Commitment to Transformation
The strategy underscores a simplified, agile operating model centered on growth and innovation, aiming to solidify Thai Union’s position as a global leader in marine health and nutrition.
