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Exotic Food makes and sells Thai sauces and seasonings — things like sriracha, sweet chili sauce, and coconut milk — mostly to restaurants, food brands, and supermarkets around the world.
Exotic Food is a Thai food company that makes the sauces and seasonings you find on tables and in kitchens: sriracha, sweet chili sauce, plum sauce, coconut milk, and a range of other Asian-style condiments. It sells these mainly in bulk to restaurants, food manufacturers, and supermarket chains, both in Thailand and abroad, rather than only to individual shoppers. The company is headquartered in Thailand's Samut Sakhon province, an area known for food processing, and the business is really a manufacturer and exporter at heart.
The money works like a simple factory business. Exotic Food buys raw ingredients — chilies, sugar, vinegar, coconuts — turns them into bottled sauces and packaged coconut products, and sells them in large volumes to buyers who either resell them under their own labels or use them as ingredients. Export markets, especially the United States, are a big part of the story, and the company has built a reputation as a reliable supplier of Thai flavors to the world. Its customers pick it because it can make consistent, shelf-stable products at scale, which is exactly what a restaurant chain or a food brand needs. The interesting part of the story is how a fairly small Thai sauce maker turned itself into a global supplier. It has leaned into private-label and food-service customers — the businesses that quietly put sauce in packets or on menus — which means less spending on advertising its own brand and more focus on manufacturing muscle. That keeps things efficient, but it also means Exotic Food is exposed to the tastes and pricing power of the big buyers it serves, and to currency swings from exporting so much.
While studying in the US, Jittiporn Jantarach could not find Thai seasonings with proper labels, so cooking Thai food far from home was a real hassle. He saw an untapped opportunity in that gap. Back in Thailand he developed a couple of dozen seasoning products and co-founded the company with his sister Vasana. They named the brand Exotic Food to suggest rare things from far away, with a premium feel.
The first year's orders were so strong that contract manufacturers could not keep up, so the founders built their own factory at Laem Chabang Industrial Estate. The site won BOI investment promotion for export food production and came with logistics advantages, which let them make food for export at large scale.
In December 2013 the company converted from a limited company into a public company, renamed Exotic Food Public Company Limited, as a step ahead of listing on the Stock Exchange of Thailand.
XO listed on the Stock Exchange of Thailand in 2014 at an IPO price of 2.20 baht per share, and the stock jumped more than 80% above that price on its first trading day. Listing gave the company capital to fund a new factory and expand production capacity.
Revenue and profit hit record highs, driven by surging sauce exports, and the stock peaked at 12.30 baht in November 2018 as investors bet the growth would continue.
Then the shares plunged from a peak of 12.90 baht in May 2019. A major UK distributor, about 15% of revenue and a supplier to Tesco, slowed its orders. The slowdown in high-margin sauce orders hit second-quarter results and investor confidence, dragging the stock sharply lower.
In the third quarter of 2021 profit slipped 1.70% to 94 million baht even with full order books, because supply-chain problems like shortages of bottles, packaging and labels from COVID, plus a lack of shipping containers, blocked deliveries. The company recovered in the fourth quarter with 108 million baht profit, and full-year 2021 net profit rose 45.16% to 462 million baht, showing the supply-chain crisis had passed.
On 14 November 2025 the board changed the top executive titles for both Jittiporn and Vasana Jantarach from Managing Director to Chief Executive Officer, matching the titles to the company's structure as the two siblings led it jointly.
Exotic Food's flagship Flying Goose sriracha reached more than 80 countries, generated over 2 billion baht in sales, and became the No.1 sriracha in Germany. The company set a 10-year goal to become the world's No.1 sriracha brand with 4,500 million baht in sales, expanding into Africa, the Americas and Asia. The growth is built on positioning Thai sauces as premium global brands rather than commodity exports, with collaborations with brands like Anya Hindmarch and Percival.
The risks are honest ones. A sauce company depends on steady supplies of farm ingredients, and a bad chili harvest or a jump in sugar prices can squeeze margins. It also faces plenty of competitors, from giant global food companies to other Asian condiment makers, and it has to keep convincing buyers that Thai flavors are worth stocking. Still, the core idea is durable: the world keeps eating spicy food, and someone has to make the sauce.
Saved answer · last researched 3 Nov 2026