Investment feasibility analysis for pasteurized bottled fermented fish sauce production in Thailand: perspectives from industry stakeholders

The study aims to evaluate the feasibility of investing in producing pasteurized bottle fermented fish sauce in Thailand. The study employed a mixed-method approach. Quantitative data was collected using a convenience sampling technique, and the data was collected from 547 participants who had previously consumed fermented fish sauce. The quantitative data were analyzed by descriptive statistics. The qualitative study involves in-depth interviews with 20 participants from various Thai organizations associated with fermented fish products. Qualitative data is analyzed by using content analysis. Traditional enterprises, with 2–3 personnel, invested about 1 million baht. The average payback period was 8.31 months, yielding returns above 30%. Enhancing consumer trust in product hygiene requires improved processes. Conversely, manufacturers revealed larger workforces, with 30–40 employees, and substantial initial investments of around 30 million baht. Their extended payback period was 10.40 months, generating returns exceeding 25%. The greater investment necessitated sustained high-volume production. Manufacturers often balance in-house and contract manufacturing, even among competitors, to optimize profit. In the context of brand owners outsourcing production, findings indicated a 30,000 Baht initial fee, requiring a minimum order of 10,000 bottles or more for a 6% return on investment. Larger orders exhibited lower production costs and higher returns. Compliance with a 1-year product shelf life was crucial for larger orders. The pay-back period hinged on the distribution efficiency. Manufacturers should produce both smell and non-smell products to have a variety of products that can meet different groups of consumers.