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FY 2020 Review: Are international Infant Formula Brands Hitting Snags in the Chinese Market?

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.

Financial data

Company2020 Total salesYOY
a21

NZ$677.4 million (RMB 3.22 billion)

(6 Months Ended 31 December 2020)
-16.2%
Nestlé2CHF 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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