Shares of Exotic Food Public Company Limited, or XO, closed at 19.00 baht, up 1.10 baht or 6.15%, on trading value of 24.68 million baht, after Chief Executive Officer Jittiporn Chantrat revealed that the global seasoning sauce market continues to expand. The global hot sauce market was worth approximately 120 billion baht in 2025 and is expected to grow at an average of 7.7-7.8% per year, reaching about 200 billion baht in 2032. Meanwhile, the sriracha sauce market was valued at approximately 19.3 billion baht in 2025 and is expected to rise to more than 30 billion baht in 2032. XO holds roughly 7.9% of the global sriracha sauce market. The company targets revenue growth of no less than 10% in 2026 from about 2.15 billion baht in 2025, which would amount to nearly 2.4 billion baht. It is also proceeding with investment in a new factory worth approximately 1.3 billion baht, funded about 70% by loans from financial institutions and about 30% by company cash. The plant is expected to be completed in the second quarter of 2028, with exports from the new factory beginning in the third quarter of 2028. Brokerage Globlex Securities raised its 2026 revenue forecast for XO to 2.37 billion baht from 2.26 billion baht, a 10% increase from the previous year. It expects gross profit margin of 47%, excluding the impact of inventory write-downs, and maintains its 2026 net profit forecast at 535 million baht, up 6% from the previous year. It also raised its target price to 19.20 baht from 15.60 baht and upgraded its recommendation from hold to speculative buy.
Exotic Food Public Company LimitedGloblex raised XO's 2026 revenue forecast and target price to 19.20 baht with a speculative buy rating, and XO is investing 1.3 billion baht in a new factory.
