TAIPEI (Taiwan News) — A score of Taiwanese food and beverage franchises are currently sizing up opportunities in Thailand as they look to expand operations in Southeast Asia.
Outlets such as Fried Chicken Master (炸鷄大獅), Frozen Heart (凍心冰淇淋), Thefeen burger (樂檸漢堡), Tea Top (第一味), HWC Roasters (黑沃咖啡), and many more are looking to get in on the action, according to a Bangkok Post report.
"Thailand has become a country with great opportunities and potential for the development of Taiwanese chain brands," a source at the Association of Chain and Franchise Promotion Taiwan (ACFPT) told Thai media on the condition of anonymity.
The insider said rapid urbanization and a maturing retail environment are two factors that are attracting Taiwanese stores to Thai shores. Most Thai people now live in cities, according to U.N. statistics, with the urban population rising from 38.8% in 2006 to 51.4% in 2020.
The two peoples also have similar lifestyles and consumer habits. This familiarity allows Taiwan’s food brands to better position themselves in the market, the source said.
Also, Thailand's position in the heart of Southeast Asia makes it a perfect entry point for Taiwanese brands looking to enter other markets in the region, according to Sethaphong Phadungpisuth of consultancy agency Gnosis.
Fried Chicken Master currently runs 56 branches, 30 in Taiwan and the rest in countries like Malaysia, Indonesia, and Cambodia. Managers at the company aim to open 10 new stores in Thailand over the next five years.