China will continue to remain as one of Fonterra’s largest market for its dairy products, and it has confirmed its plan, during the major CIIE exhibition, to continue investing in this market.
Fonterra has launched 7 new products from probiotics to collagen in cheese with 2 products specifically tailored to the China market during the 6th CIIE exhibition held in Shanghai recently from 5 to 10 November this year. Cheese is identified as one of the major growth category in China.
Miles Hurrell, CEO at Fonterra said that the company is always looking at innovative ways of using dairy products in local cuisine, adding that Fonterra will continue to strengthen core business with localized innovation in China, i.e., to co-create new products and applications with local customers and partners. Hurrell highlighted the rapid emergence of strong local Chinese players and the significance of cooperating with local partners in product launches.
Earlier this year, Fonterra opened its 5th Fonterra Application Center (FAC) in Shenzhen. The company will keep investing in its locally-driven innovation capabilities and open more FACs in China. Fonterra is also seeking to penetrate into the lower-tier cities at an even faster pace, added Hurrell.
The CIIE provides the necessary springboard to tap into the vast China market.