International infant formula giants delivered soggy results in the Chinese market in 2020. The pandemic hit, increased domestic competition, and falling birth rates put them in a dilemma.
|Company||2020 Total sales||YOY|
NZ$677.4 million (RMB 3.22 billion)(6 Months Ended 31 December 2020)
|Nestlé2||CHF 84.3 billion (RMB 587.87 billion)||-8.9%|
|Danone3||€23.6 billion (RMB 185.70 billion)||-1.5%|
|Reckitt Benckiser4||£14.0 billion (RMB 126.30 billion)||+11.8%|
|FrieslandCampina5||€11.14 billion (RMB 88.63 billion)||-1.4%|
|Abbott6||$34.6 billion (RMB 224 billion)||+9.8%|
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