by SHAFIQQUL ALIFF / pic by HUSSEIN SHAHARUDDIN
SEDANIA Innovator Bhd’s 51%-owned subsidiary, Offspring Inc, has expanded into the Thai market along with Cambodia, South Korea, Spain and Finland.
In a statement yesterday, Sedania noted Offspring’s baby products are now available in 11 export markets including the US, Singapore, Brunei, the Philippines and Russia.
“Expansion plan has always been the key focus for Offspring. Getting into Thailand further solidifies the growth strategic plan for the company,” Sedania’s founder and MD Datuk Azrin Mohd Noor (picture) stated.
Offspring’s products will be made available on a dedicated web store designed specifically for Thailand in English and Thai.
The product will also be available via online shopping platforms such as Shopee and Lazada Thailand.
“I am confident Offspring will make yet another breakthrough by offering our top quality organic products equipped with our comprehensive distributor programme that will further assist our counterparts expand their market reach,” Azrin noted.
Based on the statistical data from market research conducted by Ofspring, the birth rate in Thailand is estimated to be around 780,000 newborns annually.
The rate is 56% higher compared to the estimated birth rate in Malaysia.
From the birth rate estimation, Offspring is currently working towards a market share of RM25 million per annum.
According to figures from Euromonitor International, the global baby diaper market is expected to witness a compound annual growth rate to an estimated US$51.53 billion (RM214.13 billion) by 2024, with Thailand expected to be one of the fastest growing markets for baby diapers in South-East Asia.
Azrin said the staggering numbers represent a golden opportunity for Offspring and anticipates Thailand to be the leading export country for the Asian market.