Lactalis sets sights on infant formula market
By Qiu Quanlin in Guangzhou (China Daily) Updated: 2014-05-24 07:27More than 1,000 overseas dairy producers, 41 of which make infant formula milk powder, have received entry approval from Chinese authorities, according to the Xinhua News Agency.
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In 2013, overseas milk powder brands held 54 percent of the market in terms of value, Xinhua reported.
In the first two months of 2014 alone, Chinese consumers bought some 301,000 metric tons of milk powder, up 79.3 percent from a year earlier, according to Xinhua.
Under the new rules, foreign dairy companies must ensure their products comply with China's safety standards and are registered with the General Administration of Quality Supervision, Inspection and Quarantine.
"The move is a fresh effort by the Chinese government to further regulate the country's dairy market for better product quality and weed out the unqualified products, especially fake foreign brands that are actually from local makers," said Wang.
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