Analysis milk
Ausnutria shifts the focus back to goat in China
Dairy company Ausnutria closed 2025 with a positive result, but did have to absorb some setbacks. On the important Chinese market, the company lost significant revenue and profit, which necessitates a reorientation.
Read this article?
Become a subscriber and get instant access
Choose the subscription that suits you
According to the 2025 annual report filed in Hong Kong, the importance of the Chinese market declined from 76% of turnover in 2024 to 63% a year later. Sales of goat's milk-based infant formula held up reasonably well, although concessions were also made in this area. Sales of cow's milk-based infant formula, however, took a heavy hit. In the Netherlands, this results in job losses at factories in Leeuwarden and Kampen.
The declining birth rate in China certainly plays a role in this, but Ausnutria also seems unable to compete with a company like FrieslandCampina, which achieved excellent results in the Chinese infant nutrition market last year.
Ausnutria seems to be drawing several lessons from what happened last year. Cow's milk infant formula will become a less prominent product on the Chinese market, and there will be a greater focus on goat's milk infant formula and specialized nutrition for (older) adults. Even though that latter market also took a hit last year.
In addition, Ausnutria wants to focus even more strongly on sales outside China, because while things went poorly in China, sales were good to excellent almost everywhere else. In the United States, the goat milk brand Kabrita even made it onto Walmart shelves.
The only exception to the growth trend was the markets in Southeast Asia. Revenue there also declined slightly. For this year, as reported, Ausnutria expects higher revenue and results again.