During the ongoing China International Import Expo (CIIE), a senior executive from Danish Arla Foods stated, that despite market fluctuations, China continues to be the largest infant formula market globally. The executive added that Arla Foods aims to target this segment through its business in China in the upcoming years.
“Although the Chinese infant formula market has passed the high growth period, it is still extremely attractive,” said Cheng Yue, vice-president and head of China at Arla Foods.
According to Cheng, China is still the world’s largest infant formula market. The country has an estimated market scale of 100 billion yuan. Cheng added that Arla Foods are confident about the future development in China.
“We will continue to consolidate our core advantages and constantly explore new models and new products in the market. We stay firmly committed to the Chinese market and will fully promote our business in China,” Cheng said.
Arla Foods is participating in the CIIE for the sixth consecutive year. This year, the company has showcased its core brands, including two products making their debut in the Chinese market.
“We are very pleased to attend the CIIE for the sixth consecutive year. The Chinese market has great potential and is a vital part of our global growth strategy,” said Simon Stevens, executive vice-president of Arla Foods International.