Japanese manufacturer and distributor of dairy and confectionery, Meiji has announced the establishment of a China-based company, Meiji Dairies as part of its plans to expand its business overseas.
Founded by subsidiary Meiji China Investment, Meiji Dairies will begin production in March 2023. The new company will produce and sell Meiji’s milk and yogurt products with the intentions of expanding its dairy sales in China.
According to its 2026 vision, Meiji aims to increase its long-term value by establishing a foundation for business growth in overseas markets. In its 2020 medium-term business plan, Meiji identified China as the most important overseas market claiming that the drinking milk and yogurt business has maintained steady growth.
Meiji has interpreted China’s dairy expansion as a result of the increased health-consciousness within the country, coinciding with the growing popularity for chilled milk and the increased demand for safety.
With this new establishment, Meiji says it will strengthen its production infrastructure while utilising its technology and expertise in delivering safe dairy products to a wider range of customers.
By expanding its connections with China, Meiji is one step forward towards achieving its 2026 vision.
By Emma Upshall
Schumacher will replace Alan Jope, who announced his decision to retire last September, less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Globally, plant-based ice creams have doubled their share of the market over the last five years, according to Tetra Pack. Pea protein and coconut milk are leading the way, but Tetra Pak cites data showing that oat-based ice cream launches have doubled in the previous year.
A myriad of so-called eco-labels are being rolled out across various F&B products, but with no gold standard or strict rules governing precisely what the logos mean and what methodology is behind them, concerns are growing that they will confuse consumers and ultimately be counterproductive.