Chief Financial Officer of Danone, Juergen Esser has asserted that China will remain Danone’s key growth driver for its products.
Danone is the world’s largest yoghurt producer while its medical and infant nutrition products as well as beverages enjoyed strong performance in China market.
In 2022, demand for Danone’s Chinese vitamin drink brand Mizone was hit by the country’s no-COVID policy, but the company turned this around in 2023, making China its No.1 growth driver.
China’s aging population has also generated high interest in Danone’s medical nutrition business. Meanwhile, the infant nutrition business continues to be under pressure due to declining birth rates, Esser added.
In its latest financial year, Danone beat market expectations with a 6.9% growth in sales in China. The Waters category recorded double-digit sales growth from the preceding period.
