Hi All,
Goat IF market, significant opportunity in the global IF market has received considerable attention. Industry reports have estimated the global infant food and formula market is worth over A$70bn, with IF sales accounting for 67% of the market value.
Strong demand from Asia is expected to underpin future market growth. In particular, the China market (estimated to account for 40% of the global IF market) has attracted the greatest interest.
Driving Asia’s demand for foreign IF brands has been the rising income of the middle class, increased female workforce participation, China’s two-child policy, repeated contamination scares from local products and continuity in supply.
As a result, Asian customers have displayed brand loyalty and a propensity to pay a premium price for trusted foreign brands, such as Australia's BUB.
In order to compete in the highly competitive IF market, BUB has chosen to enter the premium segment of the industry. The premium and super premium products have grown from 5% to 93% of the China segment value in just over a decade, according to BUB. Therefore, the brands in the premium segment are experiencing the fastest growth.
The rate of growth in the premium market has attracted a number of players to the category. BUB has looked to pursue a differentiation strategy and provide a premium, goat milk IF.
GLTALTH..!!
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