‘NR Instant Produce’ considers ‘Food for the Future’ trend

“NR Instant Produce Public Company Limited” (NRF), the producer and exporters of food and condiment products, is earnestly contemplating the “Food for the Future” trend while steadily moving towards food products for the future to fulfill the demand of the new generation of consumers through the strategy to coinvest with business partners both domestically and abroad with food product innovations to ensure sustainability for the entire ecosystem of the food industry. The Company stands ready to penetrate the worldwide millennial group of customers with the aspiration for NRF to become a world-class food producer.

 

Mr. Dan Pathomvanich, Chief Executive Officer (CEO) of NR Instant Produce Public Company Limited (NRF), producer, supplier and distributor of condiments, instant food, food flavoring, vegetarian food without eggs and milk in the ingredients, food from plant protein and instant drinks in both liquid and powder forms, as well as non-food consumer products in V-shape packaging (friendly to consumers and the environment), revealed that the future trend in food consumption is an occurring global mega-trend that utilizes innovative and high-technology production process to develop products that fulfill the demand of new-generation consumers who put great importance on healthy food while also the awareness of the source of food products that must also be timely and safe.

The Company has set the strategy to target the “Specialty Food” category in the food market that has become popular the world over and has shown high growth rate in recent past. This type of food has a distinctive characteristic that is packed with quality all the way from the sourcing process for the best raw materials possible. The Company’s “Specialty Food” product line for which quality is the top priority consists of three groups, namely,

 

1) Ethnic food for the current trend of consuming foreign cuisine that has been blended with local food through the health-awareness tendency, the higher degree of experimentation of spicy food by the new generation as well as the growing global migration. This group is expected to grow by at least 10 percent per year well into the future.

 

2) Plant-based food or food derived from pant protein commonly produced from legumes, mushrooms, and seaweed, in place of animal meat. This group of food is gradually growing in popularity following the trend of consumers seeking out alternative foods that are nutritious and healthy while paying heed to the environment and food security. This is particularly evident during the current pandemic situation when more consumers are choosing to eat food made from plant protein that tastes and feels like real meat but deriving nutrients from plants. Therefore, greater variety of food products made from plant protein are being developed and introduced in the market in significantly higher percentage and look to be the future of food business.

 

3) Non-food consumer products contained in packaging that are friendly to consumers and the environment (V-shape). Aside from a wide variety of food products with high, international quality, the Company is determined to create functional products for the convenience of the consumers in every age group including the invalid and the disabled as well as the service providers in the field of machinery and V-shape packaging innovations to the food, cosmetic, drugs, medical supply and chemicals in the Southeast Asian markets.

 

The challenge for the operators is to adjust themselves to the changing food consumption trend by concentrating on the production process that will create sustainability and the management of sustainable supply chain – from the procurement procedure, to production, storage, transport, and distribution – as well as the importance given to all groups of stakeholders from upstream to downstream. Also in recent past, the COVID-19 pandemic situation became a factor that quickly changed the food consumption behavior with the consumers seeking food that can boost the immune system in various ways but must be close to natural  materials and containing complete nutrients that the body can readily absorb to help cope with infectious diseases. Therefore, this is another business opportunity to manufacture products that can support this need for health food.

 

The Chief Executive Officer of NRF further explained that the Company has the experience and expertise in food production throughout almost 30 years and recognizes the growth of the food group of the future that puts heavy emphasis in the process to select ingredients with the highest quality. Therefore, the Company has set the strategic plan to reach the goal of supporting this trend and access consumers of the millennial (Gen Me) group that is a collection of people of many age groups with distinct identity, individuality, and possessing very high purchasing power.

 

NRF has sought to enter into a partnership with a company that possessed expertise in the food industry in order for NRF to grow and learn new technology to keep up with the changing environment of the industry. Therefore, the Company has entered into a joint venture with “The Brecks Company Limited” (Brecks) which is a leader in Europe’s food from plant protein manufacturing industry with more than 27 years of experience and expertise. Brecks has a manufacturing base in the United Kingdom, accepting orders to manufacture products made from plant protein for various brands, such as Quorn, The Vegetarian Butcher and Cauldron Foods. This company also has plans to increase investment in the future to expand its plant protein market in the United States and Europe. With such a partner, NRF is now ready to support the production of food for the future.

 

Also, NRF has invested in “The Meatless Farm Limited” (Meatless Farm) in the UK for utilization as a production base for distribution to Europe, United States and Asia to manufacture meatless hamburgers with protein from rice, legumes as well as radish that combine to produce the taste and feel of real meat products. In addition, investment has also been made in “Big Idea Venture LLC” (Big Idea Venture) and “New Protein Fund I” that concentrate on investment and providing support for startup businesses involved in food from plant protein for NRF to gain new access and learn new technology in the global food industry in order to adopt the experience to develop a variety of new innovative products. At the same time, there is a possibility to gain new customers or partners within the plant-based startup-ecosystem with the target to invest in 100 startups in the next 2-3 years as the Company has received the right to become the preferred co-packer for the startups in the fund.

 

Most recently, the Company invested in “Phuture Limited” (Phuture), one of the food tech startups in Asia that has garnered interest from world-class investment firms. This company concentrates on the production of meatless “minced pork” with soya beans as the main raw material. NRF invested in this company to promote business relationship and the opportunity to manufacture products for Phuture following the marketing of the products. In addition, NRF also invested in City Food Company Limited, in Nakhon Pathom and Ratchaburi, who is the producer of ready-to-cook food and instant food and “Shinpo” brand soya milk, as a production base that could propel NRF towards becoming a world leading food producer.

 

At present, NRF is a leader in the production and export of instant food industry, famous condiment and food from plant protein with products covering over 500 types of dishes and more than 2,000 SKUs, divided into four groups, namely:

1. Products under six inhouse brands – Por Kwan, Lee Brand, Thai Delight, Shanggie, DeDe and Sabzu
2. OEM and private brand manufacturing
3. Plant-based food products, and
4. Non-food consumer products in V-shape packaging that is friendly to consumers and the environment. Also, the Company has a plan to expand its V-shape product portfolio, such as seasoning sauce, condiments, energy drinks, etc., in the forms of the Company’s own brands as well as business joint ventures domestically and abroad

 

The strength of the Company is in product research and development to increase the variety of products as well as to promote the brands and the Company’s reputation to be better known in a wider circle through food and drink expositions both in Thailand and abroad and to be ready to expand into new markets.

 

“We have leveraged our business experience of the almost 30 years and our exports to 25 countries around the world, such as to the United States, the United Kingdom, Germany, France, Australia, South Africa, Japan, China and Malaysia. Our end customers are made up of major multinationals all over the world who have over 10 years of good relationship with us. The Company has used the experience that we have accumulated to produce food for the future to support the approaching global mega-trend, and to take NRF to become the “Purpose-Led Company” – driving the organization and brands through clearly mapped out targets – with the determination to carry out the business with sustainability so that the Company will become the top-of-mind in the manufacturing of products for world-class (instant) food companies,” Mr. Dan concluded.