- Else (BABY) has launched in China, the world’s largest infant formula market
- The company opened its flagship Chinese store on Tmall Global on September 29 with WeChat, JD and Douyin stores scheduled to open later this quarter
- Drivers for the expansion beyond market size include China’s high incidence of lactose intolerance and infant dairy allergies, as well as its growing plant-based milk market
- Else Nutrition develops plant-based food and nutrition products for infants, toddlers, children and adults
- Else Nutrition (BABY) is up by 2.82 per cent trading at $0.73 per share
Else (BABY) has launched in China, the world’s largest infant formula market.
The company opened its flagship Chinese store on Tmall Global on September 29. The store is in partnership with Baozun, the largest e-commerce service provider in the market.
Drivers for the Chinese expansion include:
- Lactose intolerance of up to 25 per cent of the population
- As high as 40 per cent of infants and toddlers under 2 years experiencing dairy allergy symptoms
- An expectation that growth in the Chinese plant-based milk industry will remain above 20 per cent in the next few years, reaching C$56.65 billion by 2025
- Projected growth in China’s infant formula market of 8 per cent per year from $30 billion in 2021 to $40 billion in 2025. The global infant formula market in 2021 accounted for $77 billion and is expected to reach $110 billion by 2026
WeChat, JD and Douyin stores are scheduled to open later this quarter.
“Selling our innovative, plant-based, clean pediatric nutrition products in China is a key milestone in the company’s strategic plan to become a player in the global infant nutrition market,” stated Hamutal Yitzhak, Else’s Co-Founder and CEO.
Else Nutrition develops plant-based food and nutrition products for infants, toddlers, children and adults.
Else Nutrition (BABY) is up by 2.82 per cent, trading at $0.73 per share as of 9:35 am EST.
