Australian baby formula start-up Sprout Organic has expanded internationally into Saudi Arabia and Malaysia.
Selasi Berdie, founder and CEO of Sprout Organic, said the company’s growth has been “phenomenal” and added, “With zero tariffs, high-income levels and high birth rates, Saudi is a gateway to penetrate the whole GCC region and opens several other opportunities, including the UAE.”
According to market research company Euromonitor, Saudi Arabia is the fourth largest infant formula market in the world with a market size value of US$883 million, and Malaysia is in sixth place.
“With high birth rates and a population of over 30 million people, Malaysia has one of the highest forecast infant category growth rates at 9.34 per cent and suits our current stage of business prior to taking on larger Asian markets,” Berdie said.
The company is currently seeking private funding to facilitate further international expansion opportunities.
The brand’s infant formulas are certified organic and made with ingredients such as rice, peas and coconut. It is also free from allergens such as dairy, soy, eggs, wheat, fish and peanuts and sold in more than 1500 locations throughout Australia and New Zealand.
This story first appeared on our sister publication Inside FMCG
