Goodwill, committed to meeting customer needs through quality and value, has introduced its new product "Goodwill Cream Mix," a complete formula milk solution. The product boasts all-in-one versatility and cost efficiency, offering entrepreneurs a new alternative. Following three years of continuous business growth, the company aims to achieve 1 billion baht in sales by 2025. Additionally, Goodwill has signed a Memorandum of Understanding (MOU) with SME D Bank's SME Investment Fund (Sub-fund 1), advancing its organizational standards with plans to list on the stock exchange by 2028.
Mr. Idthipol Patimavirujh, Managing Director of Phat Food Intelligence Co., Ltd., revealed that with over 20 years of experience and expertise in dairy product manufacturing, the company truly understands consumer and customer needs. The company focuses on health-conscious consumers, families, and those seeking quality dairy products with excellent nutrition. Product taste quality is certified by the Superior Taste Awards from the International Taste Institute, Belgium.
"Goodwill began distributing our first product - sweetened condensed milk in 2022, receiving positive feedback from consumers and distributors. Our products are distributed nationwide and across neighboring countries including Laos, Cambodia, Vietnam, and Myanmar. Sales have grown exponentially over the past three years, and we aim to reach 1 billion baht in sales by 2025. Our short-term business plan includes expanding distribution channels both domestically and internationally, developing new products for existing and new market segments, and improving internal operations efficiency through automation to increase production capacity."
Ms. Prangsiri Mesamarn, Deputy Managing Director of Phat Food Intelligence Co., Ltd., stated that current consumer trends favoring cafe check-ins and bakery visits have led to numerous new business operators, presenting growth opportunities for Goodwill. Thailand's condensed milk market grows 4-5%annually, with significant usage in food, beverage, and dessert businesses. Goodwill has continuously expanded its market share by offering products that meet health-conscious consumer demands. The global condensed milk market, valued at US$3.77 billion in 2024, is expected to reach US$4.64 billion by 2029, growing at 4.2% annually. Southeast Asian markets, particularly Vietnam and Malaysia, are showing rapid growth in consumers using condensed milk products in local foods and beverages. Goodwill continues to expand in Southeast Asia, targeting at least 20% annual growth from 2025.
"We are committed to developing products that not only meet current market demands but also drive Goodwill's future through innovation and supreme quality. Ready for both domestic and international market expansion, we adhere to sustainable development principles and are the only industry player consistently communicating and implementing sustainability practices. From renewable energy in production processes to world-standard recyclable packaging, we truly represent the new generation of consumers," Ms. Prangsiri added.
Goodwill has also introduced its investment partner, SME D Bank's SME Investment Fund (Sub-fund 1), which will enhance capabilities in financial management knowledge, good governance practices, and organizational standards. This partnership will also facilitate access to funding sources, enabling sustainable business growth and preparing for future stock exchange listing.