Infant formula manufacturer Wattle Health (ASX:WHA) announced it has secured a second brand slot for its goat infant formula range through an agreement with packaging company Blend and Pack.
The agreement secures a second out of three brand slots to obtain accreditation with the China Food and Drug Authority.
The company said this will assist Wattle Health in differentiating itself from other competitors, increase brand awareness and increase sales in the largest national dairy market in the world, China.
Goats milk based infant formula currently forms a small percentage of the infant formula market, but the company said market share continues to grow as consumers become more aware of the benefits of goats milk.
Wattle Health’s Executive Chairman Lazarus Karasavvidis said securing another brand slot with Blend and Pack is a significant step that will increase its product offering in the largest market for nutritional dairy products.
Shares in Wattle Health (ASX:WHA) are trading 7.12 per cent higher at $1.88.