PETALING JAYA: Sedania Innovator Bhd’s health-tech subsidiary Offspring Inc has made its foray into Thailand, in line with its ongoing expansion to key markets.
The company, which is 51%-owned by Sedania, focuses on early child-care solutions including the production of high-quality organic baby products.
Offspring had earlier announced its expansion into Spain, Finland, Cambodia and South Korea, and with its venture into Thailand, is currently available in 11 export countries.
“Expansion plan has always been the key focus for Offspring.
“Getting into Thailand further solidifies the growth strategic plan for the company, ” said Sedania founder and managing director Datuk Azrin Mohd Noor in a statement,
Offspring will be made available on a dedicated web store designed specifically for Thailand as well as top online shopping platforms such as Shopee and Lazada Thailand.
Based on the statistical data from market research conducted by Offspring Inc, the total birth rate in Thailand is estimated to be 780, 000 annually, which is 56% higher compared to the estimated birth rate in Malaysia.
Based on this estimate, Offspring is currently working towards a market share of RM25mil per annum, said Sedania.
Citing Euromonitor International data, Sedania said the global baby diaper market is expected to witness a compound annual growth rate (CAGR) to an estimated US$51.53bil (RM211bil) by 2024.
Representing one of the fastest growing markets for baby diapers in South-East Asia, Thailand is expected to be a leading export country for Offspring in Asia, it added.