At the end of 2022, Abbott Laboratories announced the gradual exit of mainland China’s infant formula market throughout 2023.
Abbott had ~3% market share.
How other international brands were doing in 2023?
Nestle’s Greater China business overall saw 4.2% organic growth in 2023, citing positive growth in Infant Nutrition.
Danone (Aptamil brand) saw market share gain in 2023, with 8.3% yoy like-for-like growth in specialized nutrition in China, North Asia & Oceania.
A2 grew 10.4% yoy in 23H2 (FY24H1) for its China label products, and 16% yoy in 23H1 (FY23H2).
