Charoen Pokphand Foods
Charoen Pokphand Foods (SET: CPF) is the listed flagship of the Charoen Pokphand Group — Thailand's largest conglomerate by asset base, controlled by the Chearavanont family. FY2024 consolidated revenue ~THB 580-600B (Thailand's largest listed food company). Integrated agri-food operations across 18 countries: feed (swine, poultry, aquaculture, pet-food feed), farm (swine, broiler, layer, shrimp, fish), food (processed meats, ready meals, retail). CPF owns major brands: CP brand (chicken, pork), Five Star (grilled chicken retail), US Food (American frozen), Seara (Brazil poultry via BRF collaboration). CPF also operates shrimp, aquaculture export alongside Thai Union in the global seafood supply chain. CPF is the parent of Makro (SET: MAKRO) plus influential holder in Lotus's (retail), TRUE Corporation (telecom).
Snapshot
Headline numbers a buyer checks first.
FY2024 revenue
~THB 580B
FY2024
Countries
18
Operations, exports
Ticker
SET: CPF
Listed
Founded
1978 (CP Group 1921)
Chearavanont family
What this company actually does
CPF operates the Feed-Farm-Food integrated model: feed mills (compound feed for swine, poultry, aquaculture, pet food), farm operations (swine breeding, fattening, broiler, layer poultry, shrimp, fish aquaculture), processed food manufacturing (cooked chicken, sausages, frozen ready meals). Thailand is the home base; international operations span Vietnam, China, India, Turkey, Russia, Malaysia, Cambodia, Laos, Myanmar, Philippines, US, UK, Taiwan, Belgium, Netherlands. FY2024 revenue ~THB 580-600B makes CPF Thailand's largest listed food company and ASEAN's largest agri-food group.[]
Strategic positioning matters. Within CP Group, CPF is the agri-food listed vehicle; CP Axtra (SET: CPAXT, formerly Makro-Lotus combined) is the wholesale, retail vehicle; TRUE Corporation (SET: TRUE) is telecom; Ascend Money, CP AXA Life, CP ALL (SET: CPALL, 7-Eleven Thailand) round out the group portfolio. Chearavanont family control remains absolute. Shrimp, aquaculture exports put CPF in direct comparison with Thai Union (SET: TU) for tuna, seafood processing peer-set framing. Pet food, companion-animal operations are a growth vertical (CP Group backed Perfect Companion Group; CPF-branded pet-food products, private-label manufacturing).[]
Segment and geographic mix
Feed segment
Compound feed for swine, poultry, aquaculture, pet food across 18 countries. Feed margin drives the whole vertical.
Farm segment
Swine, broiler, layer, shrimp, fish aquaculture operations. Largest single volume in Thailand; international Vietnam, China exposure.
Food segment
Processed meats, ready meals, retail brands (Five Star, CP) across Asian supermarkets and EU, Japan export.
Key markets
Thailand home base ~37% revenue; Vietnam, China, India, Turkey, Russia, ASEAN the majority. 18-country presence.
Thai agri-food listed peers at a glance
Revenue scale, market position, and primary export markets for Thailand's four largest listed food processors.
Ticker
SET:TU
FY2024 revenue
~ $4.06B
Primary focus
Tuna, seafood, shrimp export
| Company | Ticker | FY2024 revenue | Primary focus |
|---|---|---|---|
| Charoen Pokphand Foods | SET:CPF | ~ $16.8B | Integrated feed, farm, food — global |
| Thai Union Group | SET:TU | ~ $4.06B | Tuna, seafood, shrimp export |
| GFPT | SET:GFPT | ~ $579.7M | Chicken, Japan JV export |
| Betagro | SET:BTG | ~ $2.75B | Pork, chicken, feed, veterinary |
Watchpoints
Vietnam, China swine, poultry cycle
International-operations EBITDA heavily driven by Chinese, Vietnamese livestock pricing cycles.
Feed-grain input costs
Corn, soybean, wheat import pricing drives CPF gross-margin compression or expansion.
Seafood, aquaculture export
Shrimp, fish export volume, pricing vs Thai Union comparable set.
Related Market profiles
Peers, parents, partners, agencies, and other Seafood Processing & Export actors.
Competitor
Thai Union Group
Fellow listed Thai seafood, aquaculture peer.
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Partner
Perfect Companion Group
CP Group-backed pet-food operator.
Open Market profile →
Sector peer
National Fisheries Association of Thailand
Industry association representing Thai fisheries and seafood interests.
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Sector peer
Songkhla Deep-Sea Tuna Port / Thai Union Link
Southern Thailand tuna and seafood logistics node linked to export supply chains.
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Sources + data provenance
Every filing, filing-adjacent register, or trusted industry source cited in this profile.
Charoen Pokphand Foods (CPF) 9M/2024 Results Briefing, Annual Report 2024
| Source | Publisher | Grade | As of |
|---|---|---|---|
| Charoen Pokphand Foods (CPF) 9M/2024 Results Briefing, Annual Report 2024 | Charoen Pokphand Foods PCL | Primary | 2026-03-28 |
Reports featuring this profile
Thailand Marine Cosmetic Ingredient & Blue Economy 2027 Market Intelligence
Integrated shrimp value chain; shell waste feedstock supplier to chitosan biorefiners
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Sits alongside 2 other Atlas profilesThailand Precision Agriculture & Agritech 2027 Market Intelligence
Captive AI/IoT broiler, layer farms; regional smart-livestock benchmark
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Sits alongside 3 other Atlas profilesThailand Halal Economy and OIC Market Access 2027 Market Intelligence
Dominant Thai halal-certified poultry, processed exporter; GCC, ASEAN, EU offtake
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Sits alongside 6 other Atlas profilesThailand Food Processing Technology Equipment Market Intelligence
Largest processor; integrated poultry, seafood, ready-meal capex; Marel, GEA, Tetra Pak installed base
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Sits alongside 5 other Atlas profilesThailand Animal Nutrition & Feed Technology Market Intelligence
Largest integrated Thai feed-farm-food group, poultry, swine, aqua, pet food
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Sits alongside 7 other Atlas profilesThai Aquaculture Feed Mill: CPF, Betagro, Charoen Pokphand, and the Animal-Feed Vertical Integration
~30-35% Thai feed market share; world's tier-1 vertical-integrated.
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Sits alongside 4 other Atlas profilesThai Shrimp Aquaculture: CPF, Thai Union, and the Vannamei Export Engine
SET-listed; ~THB 600B revenue; tier-1 vertical-integrated shrimp, chicken, pork.
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Sits alongside 4 other Atlas profilesInside Thai Rice Mills: Isan Anchor, Crop-Cycle Mechanics, and the Export-Quota Game
CP Group rice operations within integrated agro-industrial.
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Sits alongside 5 other Atlas profilesInside the CP Group Empire: From Seed-Trading Roots to a USD 90B Multi-Continental Conglomerate
World's largest poultry, pork, aquaculture vertically-integrated.
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Sits alongside 5 other Atlas profilesThai Alt-Protein and Lab-Grown Meat: FDA Regulatory Pathway
CPF plant-based brand; structural Thai market leader.
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Sits alongside 5 other Atlas profilesThe Thai Pet-Care Boom: Veterinary, Grooming, and the Premium Pet-Food Wave
Thai-domestic premium pet-food brand under CPF.
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Sits alongside 3 other Atlas profilesGFPT: Pure-Play Thai Poultry Cycle and the Japan JV
Thai poultry-pork-feed structural #1; ~29% of Thai chicken production; ~THB 580B FY2024 revenue; ~30x GFPT scale.
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Sits alongside 4 other Atlas profilesBetagro: Integrated Poultry at Mid-Scale Against CPF
Thai poultry-pork-feed structural #1; ~THB 580B FY2024 revenue (~5x Betagro).
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Sits alongside 4 other Atlas profilesThai Fishmeal Byproduct and the Aquafeed Cycle Anchor
Dominant Thai aquafeed buyer; fishmeal inclusion in shrimp feed cut from 35% to 7% (target 5%); GMP/HACCP, ISO 22000, MarinTrust, BAP certified; largest pull-through demand anchor for Thai fishmeal by
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Sits alongside 3 other Atlas profilesThailand CPF: Poultry Cycle and 2026 Recovery Trade
Headline subject: FY2024 net profit THB 19.6B (recovery from FY2023 loss); Q3/2024 +504% YoY; world's largest feed and shrimp producer; global top-3 poultry, pork; international 63% of operations.
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Sits alongside 4 other Atlas profilesThailand Seafood Processing & Export Market Intelligence
Integrated feed-farm-food; shrimp, aquaculture export operations alongside Thai Union.
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Sits alongside 3 other Atlas profilesThailand Pet Food Manufacturing & Export Market Intelligence
Pet food, companion-animal feed operations; CP Group vertical.
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Sits alongside 5 other Atlas profilesThailand Cold Chain Logistics Market Intelligence
Largest captive cold chain; integrated feed-farm-food-logistics benchmark.
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Sits alongside 5 other Atlas profilesThailand Aquaculture Market Intelligence
Vertically integrated aquafeed, shrimp farming, processing; Thai-Aqua, Overseas-Aqua segments.
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Sits alongside 5 other Atlas profilesThailand Livestock & Animal Feed Market Intelligence
Dominant integrated Thai poultry, swine, feed operator; Halal, EU, Japan export.
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Sits alongside 2 other Atlas profilesThailand Animal Nutrition & Feed Tech Market Intelligence
Scale aquafeed, precision-feed, CPF animal health programmes.
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Sits alongside 3 other Atlas profilesThailand Alternative Proteins Market Intelligence
Meat Zero brand, corporate alternative protein R&D, pilot manufacturing.
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Sits alongside 3 other Atlas profilesThailand Food Processing Technology Market Intelligence
Scaled food processing, equipment customer base.
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Sits alongside 3 other Atlas profilesThailand Smart Farming Market Intelligence
Contract-farm smart agriculture, traceability, sensor-based animal monitoring.
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Sits alongside 7 other Atlas profilesThailand BOI Incentive Economics Deep Dive
CPF leveraging BOI Future Food Category 1.5, Category 1 agri-food incentives.
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Sits alongside 4 other Atlas profilesThailand Halal Food Certification & Export Deep Dive
CPF dominant Thai Halal chicken, processed exporter with CICOT certification.
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Sits alongside 3 other Atlas profilesThailand Rice Export Policy Deep Dive
CPF rice division through CP Intertrade; broader Thai agri-food integration.
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Sits alongside 4 other Atlas profilesThailand Durian Premium Export to China Deep Dive
CP Intertrade integrated with CP Group, retail distribution.
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Sits alongside 2 other Atlas profilesThailand Cassava & Tapioca Starch Export Deep Dive
Integrated animal feed, livestock operator; cassava chip, pellet as feed input.
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Sits alongside 4 other Atlas profilesThailand Chicken Export to Japan & EU Deep Dive
Largest Thai integrated poultry, chicken exporter to Japan, EU, global.
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Sits alongside 2 other Atlas profilesThailand CLMV Migrant Workforce Deep Dive
CP Foods integrated protein with CLMV migrant processing workforce.
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Sits alongside 7 other Atlas profilesThailand Pet Care & Veterinary Services Deep Dive
CPF pet food, private-label, feed adjacency.
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Sits alongside 3 other Atlas profilesThailand Shrimp Export EU & US Deep Dive
Integrated farm-feed-process-export shrimp; CPF Aquaculture global.
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Sits alongside 2 other Atlas profilesThai Restaurant Globalization Deep Dive
CPF integrated food adjacency, Thai-cuisine ingredient supply chain.
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Sits alongside 3 other Atlas profilesThailand Luxury Mall, ICONSIAM, Emporium Deep Dive
CP Group ICONSIAM JV partner.
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Sits alongside 3 other Atlas profilesThailand Carbon Credit & T-VER Deep Dive
CP Foods carbon-neutral, offset purchase.
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Sits alongside 4 other Atlas profilesThailand Second-Hand Resale, Circular Economy Deep Dive
CP All 7-Eleven device buyback adjacency.
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Sits alongside 2 other Atlas profilesThailand Truck Fleet, Leasing, Express Trucking Deep Dive
CPF integrated cold-chain, agri freight fleet.
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Sits alongside 5 other Atlas profilesThailand Cocoa, Chocolate, Coffee Export Deep Dive
CPF integrated agri, commodity adjacency.
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Sits alongside 2 other Atlas profilesThailand Cosmetic OEM/ODM Export Deep Dive
CPF natural-ingredient, halal supply chain adjacency.
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Sits alongside 3 other Atlas profilesThailand Tuna Can, Frozen Seafood Export Deep Dive
Integrated protein, adjacent seafood supply.
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Sits alongside 2 other Atlas profilesThailand Pet Food Export to Japan, EU, US Deep Dive
CPF integrated meat, protein, pet food adjacency.
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Sits alongside 2 other Atlas profilesThailand Rice Paddy, Millers Export Deep Dive
CPF integrated agri, selective rice involvement.
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Sits alongside 3 other Atlas profilesThailand Motorcycle, 2-Wheel, EV Bike Deep Dive
CP Group, 7-Eleven cross-sector adjacency.
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Sits alongside 3 other Atlas profilesThailand Halal Food Processing & Certification Deep Dive
CPF integrated halal-certified poultry, meat, processed export.
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Sits alongside 2 other Atlas profiles