Goat milk formula market is growing in Australia
A new type of baby formula has seen growth and success in Australia recently.
Four years ago, the goat milk formula industry was worth a mere AUD $3 million.
Today the goat milk formula segment of the market is worth AUD $85 million in the pharmacy channel.
This represents a staggering 2,773 per cent increase in worth in just four years.
Nuchev is an Australian brand that has sought to cash in on the demand for goat milk formula, with its Oli6 range of tinned formula.
The increased popularity and mainstream appeal for goat milk formula has led to Oli6’s three goat’s formula products being stocked by all 356 Chemist Warehouse branded stores from October 2017.
Chief Executive Officer and the founder of Nuchev Ben Dingle said that four years ago, this was a niche segment of the formula category and its growth has been phenomenal ever since.
“Being the only Australian goat formula in Chemist Warehouse, the largest player in this sector, is affirmation that the product has mainstream appeal,” Dingle said.
Goat’s milk formula a popular alternative
The popularity of goat milk formula is said to come from its unique properties which make it easier to digest for people with sensitive bowels or cow’s milk intolerance.
The Australian Society of Clinical Immunology and Allergy reports that 1 in 50 children in Australia and New Zealand experience cow’s milk intolerance.
In addition to being retailed in Chemist Warehouse and TerryWhite Chemmart, goat’s milk formula recently started selling in Metcash stores Australia wide.
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