BERTOLLI Thailand, SE Asia Olive Oil Market Leader, Plans Double-Digit 2017 Growth

Business Press Releases Friday May 19, 2017 10:45
Bangkok--19 May--Hill & Knowlton

BERTOLLI® Thailand, the world's number one olive oil brand, today announced for the first time their business and marketing strategies to capture increased share of Thailand's edible oil market, and 10% brand growth in 2017. Owned by Spanish multinational, Deoleo S.A. Bertolli is forecast to have more than THB242 million total sales within this year. This double-digit level of growth places the Thai market as the number one market for the brand in Southeast Asia, and number three in Asia in terms of total Deoleo volume sales and profitability.

The award-winning olive oil brand, part of the world's largest olive oil bottler, has identified Thailand as one of Asia's strongest potential markets. Bertolli currently holds 52% of the total Thailand retail olive oil market, and had THB220 million in 2016 sales revenue. The new expansion focus is motivated by Thailand's overall Macroeconomic progress and health trends. With 3.6% GPD growth predicted for 2018, compared to just 1.8% Euro Zone increase in the same year.

"Our positive outlook for Thailand is primarily based on two factors: growing middle class consumers and raised health awareness linked to olive oil's beneficial properties. The Thai urban middle class is increasing . Bangkok's middle classes represent 72% of the total city population , who are looking for premium, international products to integrate into their Thai diet," says Mr. Guy Munz-Jones, Managing Director Asia Pacific, Bertolli Global. "Furthermore, a study of Thailand's middle class revealed 62% listed 'getting healthy' as their top personal goal."

Launched in Thailand in 1996, Bertolli is distributed by Sino-Pacific, one of Thailand's leading international food importers. With a market that has doubled in size within the past 10 years, their corporate focus is to swell the olive oil category further through education, and capture increasing consumer interest in healthier oils. The numerous health benefits offered by olive oil, such as lowering LDL cholesterol and blood sugar levels, is also driving consumption.

Cholesterol was shown by 90.2% of surveyed Thais to be a top priority when it comes to diet. Indicating the growing trend, the largest proportion (34.4%) of Thai survey respondents say they have started to consume healthier foods in the past one to six months.

"With its strong food culture and fast uptake of global trends, Thailand shows great market potential. This is due to olive oil's versatility, ability to pair well with Thai food, health benefits and global reputation," explained Mr. Munz-Jones. "And Thai consumers have some of the highest levels of discretionary spending in South-East Asia as a proportion of total consumer expenditure, a key factor in determining premium spending ."

Bertolli is additionally approaching marketing activities in 2017 from a strategic perspective that seeks to increase olive oil awareness, supported by THB18 million of investment. The key channels are digital, with an emphasis on Facebook and utilizing Thai influencers that are existing olive oil users and blend it with traditional Thai food.

"We believe if we focus on building local olive oil relevance with Thai consumers – we will see long-term category growth. We aim to build education and confidence in olive oil usage and benefits, through our marketing eco-system. Bertolli Thailand remains committed to premium quality for Thai customers, and we are excited to lead Thailand's overall market evolution as one of the olive oil regional leader markets."


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