The past year has presented numerous opportunities for growth within the consumer goods industry, fueled by evolving consumer priorities that emphasize hygiene, convenience, and diverse lifestyles. This shift has led to an increasing demand for specialized health and beauty products, as well as convenience items. These changes have also created new contexts for the consumer goods sector in Southeast Asia, motivating businesses to continuously innovate and develop products that meet rising consumer expectations. As a result, the industry has experienced strong and sustained growth.
Despite heightened competition in the consumer goods industry and a slowing economy in Thailand, NEO could consistently deliver improved performance in 2024. Our roll-on products. liquid soap products, and baby and kids product lines have outperformed the market. Additionally, new offerings, such as products for the elderly and body lotion, have garnered positive feedback from consumers. NEO's ability to overcome challenges can be attributed to our robust strategic planning, which positions our brands alongside international competitors. We have broadened our portfolio to appeal to a diverse range of consumers, from the mass market to premium mass segments. Our dedicated research and development teams focus on creating innovative products that cater to consumer needs, supported bya strong manufacturing base that ensures efficient cost management. These elements collectively drive NEO toward the successful realization of its goals.
In driving business in 2025 towards sustainable growth, both domestically and internationally, NEO identifies exciting opportunities in the markets for household products, personal care products, and baby and kids products. We are committed to advancing innovation and developing new offerings that enhance consumer satisfaction every day. Our strategy of "Innovation-led Premiumization"focuses on introducing products that are not only innovative and distinctive but also create significant value, improving the quality of life for consumers of all genders, ages and backgrounds across various dimensions. Moreover, we aim to establish a New S-Curve in the market, positioning NEO as a pioneer in groundbreaking innovations that promote sustainable growth.
In terms of sustainable business practices, NEO operates under acomprehensive ESG framework that addresses environmental, social, and governance dimensions. Our environmental initiatives are guided by the principle of "Innovation from Core to Care," emphasizing thoughtful design throughout every step of the process-from selecting raw materials to developing eco-friendly formulas, designing production processes, and utilizing recyclable or natural packaging to minimize waste. Our goal is to achieve a 20% reduction in greenhouse gas emissions by 2030, contributing to a cleaner world and a sustainable future. Additionally, NEO prioritizes enhancing the quality of life for employees, consumers, and the broader community, while also elevating the organization to create internationally competitive products that sustainably increase happiness for everyone.
NEO takes pride in creating several Thai brands that have grown into leading names internationally in the consumer goods industry. Over the past 35 years, we have consistently delivered high-quality, distinctive, and innovative products, maintaining our market leadership across various categories. This impressive track record supports NEO's strong growth trajectory. Today, we are ready to leverage our experience and expertise to deliver new innovations and products that enhance everyday life, ensuring greater convenience and improved quality of life. Our mission is to uplift the essentials for everyday betterment. driving us toward becoming the innovative FMCG company of Asia that fosters sustainable growth.