Albany, NY -- (SBWIRE) -- 07/23/2014 -- China’s infant formula market is the biggest and fastest-growing formula market globally. Close to 130 infant formula companies are present in the mainland with international players such as Mead Johnson, Abbott Laboratories and Nestlé leading the market. The Chinese are willing to pay a premium for high quality infant formula and this coupled with recent change in regulations makes the market lucrative.
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In 2012 the total sales of China’s infant formula market was approximately USD 12.68 billion. Even though currently the domestic players are currently struggling to compete with more reputable international players, all are eager to become a part of the world’s fastest growing branded infant formula market.
The Middle East is an upcoming market for infant formula with Saudi Arabia one of the key markets. A high birth rate and changing lifestyles of women is contributing to the growth of the segment. Other upcoming areas in the Middle East are Israel followed by United Arab Emirates.
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