Frozen and Chilled Seafood and Related Business

The frozen and chilled seafood and related business category is mainly composed of shrimp and salmon, which are normally sold directly to retailers, restaurants, hotels, and food catering as ingredients for additional processing to create completed dishes for consumers. However, these items are also sold directly to consumers through retail channels. The products generally need to be stored in refrigerators or freezers to preserve their quality and shelf-life. Moreover, the aquafeed business, which is operated by Thai Union Feedmill Public Company Limited, is categorized in this category as a related business because aquafeed (for shrimp and fish) is part of the aquaculture industry's upstream supply chain. This business will create a foundation and strengthen the food industry in Asia for its sustainable aquaculture business, as Thailand is one of the world’s leaders in the fisheries industry.

In 2023, sales of this category amounted to THB 47.3bn, representing 35 percent of the Group’s total. Shrimp contributed to the largest portion in this category, followed by salmon, other seafood and feed. Sales from our own brands (including industrial or non-consumer brands) accounted for about 35 percent of this category, while the remainder came from private labels and food services. However, most products are not ready to eat and the typical shelf life is less than a year, which is much shorter than ambient seafood.