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Infant formula produced in Ireland accounts for 10% of the global market, according to the latest export figures released by Bord Bia on Wednesday morning. The lucrative baby formula market, valued at in the region of $35bn in retail sales per annum, has expanded rapidly over the last decade as the rising middle classes in developing countries fuelled infant formula sales.
Chinese market
Total Irish infant formula exports were valued at €1.5bn for 2015 and now account for 35% of all dairy exports. Of this €1.5bn in exports, the Chinese market accounted for the majority and saw the biggest growth throughout the year.
Infant formula exports to China in 2015 grew by 25% to reach €400m, which represents 80% of total dairy exports to China (€500m) and two-thirds of all Irish food and drink exports to China last year (€600m).
Three of the world’s largest producers of infant formula – Danone, Abbott and Wyatt – have manufacturing facilities in Ireland, sourcing milk supplies directly from Irish dairy processors.
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