Singha Corporation, which sells Masita seaweed snacks, has introduced Masita Fun extruded snack as the brand moves beyond the competitive seaweed snack segment. The flavours of the new Masita Fun corn snack rings are Korean Style Seaweed and Extreme Cheddar Cheese.
The seaweed snack market is competitive and faces high production cost. Even market leader Taokaenoi Food & Marketing Public Company Limited has developed non-seaweed categories like My Whey and Hinoya Curry. For the first nine months of 201, Taokaenoi reported a mere 2.5% year-on-year increase in domestic revenue with a fall of 0.5% year-on-year recorded during the third quarter of 2019. Taokaenoi’s sales can be quite dependent on Chinese tourist arrivals.
To compete with Taokaenoi on health, Singha introduced 0% MSG formula for five of its Masita flavours – original, spicy, spicy Korean barbecue, larb and tomyum in early 2019.
Now, the entry into the non-seaweed snack market allows Masita to capture opportunities in other snacking categories.