Online demand for infant formula in China real opportunity, says Bord Bia

A surge in online demand for imported infant formula among Chinese consumers represents a real opportunity for the Irish dairy sector, according to Bord Bia.

Shanghai-based Bord Bia analyst Nick McIlroy stated: “The massive growth in demand for imported infant formula via e-channels indicates how broader retailing trends are increasingly reflected online. Chinese parents are snapping up infant formula imports, which are perceived as safer and of higher quality.”

Mr McIlroy cited the latest report by global consumer markets analysts McKinsey on the soaring development of e-retailing in China. With online sales in 2012 roughly equal to Ireland’s total GDP of €159bn, and a compound annual growth rate of 120% since 2003, online retailing is playing an increasingly important role in expanding household consumption levels in line with the Chinese government’s economic policy targets.