HONG KONG: For many of China's manufacturers of baby and children's products, painful reverberations from last year's historic decline in the country's population are already upon them. Domestic sales are shrinking and the scramble is on to develop new streams of revenue, whether that be diversifying into
HONG KONG: For many of China's manufacturers of baby and children's products, painful reverberations from last year's historic decline in the country's population are already upon them.
Revenue for its Dodie diaper brand slid 12 per cent in mainland China last year as a fresh decline in the birth rate to a record low exacerbated oversupply and caused prices to drop, says interim Chief Executive Akash Bedi. China's market for baby food and diapers is the world's largest at US$37.9 billion, accounting for around a third of global sales annually, according to research from Euromonitor.
Non-diversified makers of baby products are"going to face declining margins, bad revenues, and their stock prices are going to collapse because it's going to take them one, two, maybe even three years to come up with a new strategy and execute," said Shaun Rein, managing director of China Market Research Group .
Perhaps the most hurt by China's demographic trends have been domestic manufacturers of infant milk formula with less diversified product lines, with many posting steep sales drops in 2022 after years of growth.
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