LottoFood has announced its corporate inception by introducing readily prepared meals centered on the hearty development of vegetarianism. The motive behind this niche of plantbased food positioning was drawn from the latest outlook, where behavioural changes in consumerism have rapidly evolved in the modern world.
“There has been a surge, albeit an uncanny one in that trend on the interest of conscious eating—in surmise it’s believed that the gap-closing, open-source age remains pivotal towards the very growth—lying around the current generation that would take on our mantle and build the pillars of our economy further,” said Mr. Prachak Tangkaravakoon, Chairman of the Executive Committee of TOA Group, “and because of this, we recognized that a cognitive shift in the priority of health among food choices has been portrayed out and over in the nation of Thailand, which must be vindicated and assayed.”
This led to the emergence of a joint-funding initiative to set LottoFood into motion as a subsidiary startup, beginning with TOA Group pitching out to SWC (Sherwood Corporation) Public Company Limited in hopes of raising initial capital – to which the latter firm was more than delighted to be engaged and invested into all things plant-based foods.
But a get-together of the board of directors, as well as stakeholders, was what drew the conclusion of appointing Mr. Sitthirat Watcharaporn as LottoFood’s new and first CEO, under the reasonings of his proven background that have testified as an exemplar in goal setting, as well as having qualities of leadership rightfully earned to have his position.
“Though it might have been very niche specific, and a vegan nutriment at that, yet there was still a steady boom found within the Thais that seemingly corresponds to the popularity of plant-based food consumption internationally,” Mr. Sitthirat mentioned, in a supporting gesture to the earlier statement in what otherwise may not resolve the around-the-globe phenomena (where a rising vegetarian trend was seen).
And a changing sentiment mutually taken on even by other entrepreneurs, seeing the limelight of benefiting humanity and ultimately driving a higher number of plant-based merchandise found across the fast-moving consumer goods sector. To this course, Mr. Prachak Tangkaravakoon finds the silver lining in growing with the industry where exceptional opportunity is still a given.
“Ironically,” He chuckled before a modest statement was said further, “it’s my very first investment in advocating the movement of veganism, and because of my inadequate expertise towards the said field did we entrust this business to the right hands in spearheading the growth of LottoFood, as well as its plant-based meals.”
That turned the whole veggie-based products being produced and featured in this current phase comprising of vegan meats; particularly, the mock chicken Katsu, plant-made patties, as well as vegetable-construct sausages. And with interests exquisitely centered on quality production, what was entirely found was a taste almost no different than that of real meat cuts – as described by food tasters being hired during LottoFood’s trial runs and prior to launching its final product output.
“In terms of taste and the texture upon chew to replicate actual flesh being consumed, our proprietary secret lies in the fact of the manufacturing processes that took place within our facilities,” Mr. Sitthirat mentioned, “which goes about in balancing the different weightage of natural vegetarian ingredients with non-GMO, germinated soybeans to form the firmness needed.”
LottoFood has already seen immediate and steady success since the beginning, which comes with meeting appropriate customer demands where the sourcing of ingredient supplies must now be imported. And because of this, strong partnership ties were made and reinforced – with DAIZ and Tanaka Ai Incorporated respectively being the main commercial groups in obtaining high-quality vegan stocks. In projection, the CEO confidently foresees an ideal aim of $50 million Thai Baht being realized in revenue growth during the first year of operation, alongside an expectation of up to $500 million of the said currency by the following three years after.
The steep and sudden increment in forecasting expectations were summarized into four primary reasons laid out, including:
- Newer plant-based foods that will be introduced, comprising of both ready-to-eat delights as well as ready-to-cook cuisine.
- Higher estimated transitioning of the world’s population into vegetarianism, and altogether a heightened lobbying of plant-based foods – whether for occasional consumption, or permanently as a lifestyle.
- Low Sodium value across LottoFood’s inventories, for the agenda to combat against the bane of high blood pressure that has been plaguing today’s world.
- An aggressive expansion in LottoFood’s sales team, which helps in spreading and gaining presence of the corporate’s objective and intention, just as the current company’s goal is to be the number one go-to in plant-based food market.
Ms. Kuanlee Pan, the Co-Founder of Devers Food Co., Ltd, added as a last note on the propagation that “LottoFood is doing their part in aiding animal welfare,” under a small window of opportunity in speaking during the interview session. The enterprising woman was enticed by the Thai company and had Devers Food proudly collaborate by acting as a conduit to bring the vegan bite-sized chunks across the Thailand marketplace.
And further joined by Global Brand Synergy (GBS), the established friendship designated to expand for global market entry is aided by DagangHalal when exporting into the global Halal trading market and compliance ecosystem. This setting with a duo distribution system only came to be as a collective necessity under the latter’s deep-rooted connection of having cold storage facilities – where the production of goods from LottoFood must be refrigerated for safe and long-lasting shelf-life.
