Abbott Laboratories has announced that it will withdraw from the Chinese infant formula market by 2023 to focus on its “growing adult nutrition business”.
“Over the past several years, we have competed fiercely in a rapidly changing market in mainland China,” a spokesperson for Abbott told FoodBev. “However, the demand for our pediatric nutrition products is changing and we have decided to focus on our growing adult nutrition business, which means we will exit our pediatric nutrition business in mainland China.”
“This decision reflects a changing market for pediatric nutrition products and that the market is well served by multiple other companies. At the same time, there is a growing recognition among adults in mainland China about the importance of nutrition, and we are committed to providing innovative science-based products to help people live full and healthy lives.”
Abbott will stop producing and selling products under the PediaSure, Eleva and Similac brands, as well as its sub-brands, Total Comfort and NeoSure.
Abbott’s spokesperson added: “We will work with local stakeholders to progressively discontinue and transition our local infant formula brands and PediaSure throughout 2023, and we will work with our partners to ensure a smooth process”.
During next year’s transition, the company said it will still be possible for consumers to access Abbott’s pediatric nutrition products: “Consumers will have continued access to our products online and offline during our transition. They can continue to confidently use our products and receive customer support.”
The decision does not affect any other countries nor Abbott’s divisions in mainland China.
© FoodBev Media Ltd 2022
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial