Infant formula market size to reach US$103.75bn by 2026 as innovation drives growth

WORLD – The global infant formula market is anticipated to surpass US$103 billion by 2026 with increasing awareness about their nutritional benefits and rising innovation from manufacturers in the sector seen to drive growth, a recent study by Fortune Business Insights shows. According to the study, the sector is projected to exhibit a 10.85% CAGR growth during the forecast period running through 2019-2016 from a US$45.12 billion market value in 2018. During the period, demand for infant nutrition products will increase, with manufacturers embarking on designing the formulations that closely…

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Yili posts strong half-year results as its global expansion gains momentum

CHINA – Yili Group, a state-owned Chinese dairy company, posted net profit of RMB 3.8bn (US$505 million) during its first half of 2019, supported by continuous expansion in Southeast Asia. Yili’s global operating revenue grew year-on-year by RMB5.13bn (US$694m) to a total annual revenue of RMB45.07bn (US$6.3bn) in the half year period. The dairy giant said that the performance underlined its strong growth momentum and potential for sustainable development. Earlier this year, Yili pioneered in the industry with the vision of a “global health ecosystem” as it continues to deepen…

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Yili launches new ice cream products for Southeast Asia

ASIA – Asia’s leading dairy products producer, Yili Group is set to unveil eleven new ice cream products in Southeast Asia as it strives to expand its presence in the market. The new products include Mocha Coffee Ice Cream, a product featuring a unique recipe under the Joyday brand, recently launched in Indonesia. Yili is banking on the Southeast Asian market trends where strong-flavoured, small-portioned and affordable products are most popular, especially in Indonesia. The company plans to introduce eleven different flavours in the market, including mint, blueberry and sweet-corn…

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Chinese dairy group Yili buys Thai ice cream maker Chomthana

ASIA – Yili Group, state-owned company of dairy industry in China has acquired Chomthana, Thailand’s leading ice cream and frozen foods manufacturer to expand its operations in Southeast Asia. Chomthana, which has more than 37 years of experience and exports its products to 13 foreign markets, sells a range of ice cream products, ice lollies and wafer cones. It is a mass market producer of quality ice cream & cones under ‘Cremo’ and other private labels as well as frozen Chinese salapao buns and other dimsum products. “Through many contacts…

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Yili to upgrade European Innovation Centre to expand economic and scientific sectors

CHINA – Yili, a state-owned company of dairy industry in China, has made plans to upgrade its activities of Yili European Innovation Center with the theme of “Enabling Connecting Globally by Innovation” to expand its economic and scientific sectors. The company said that in 2014, together with Wageningen University in the Netherlands, it jointly established “European Research and Development Center”, which is the overseas research and development center with the highest specification in China. In the upgrading ceremony, Zhang Jianqiu announced that Yili European Research and Development Center was officially…

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