Fonterra Chairman Peter McBride reveals that China is its most important strategic market and a critical global hub for developing new dairy product applications and meeting fast-changing consumer demand.
New Zealand dairy giant Fonterra views China as a market of paramount strategic importance and an essential global center for innovation. In an exclusive interview with the Global Times, Chairman Peter McBride expressed his excitement about the opportunities created by the China International Import Expo (CIIE), which he attended in Shanghai for the first time. McBride highlighted that as China continues to foster a high-standard, open business environment, the CIIE has become a crucial platform connecting global businesses with the Chinese market.
Fonterra’s success in China has been substantial, with the company achieving significant growth in the country over the past four decades. McBride credits this sustained expansion to China’s consistently open market and the strong relationship between China and New Zealand, noting that the current year marks the beginning of the second decade of the China and New Zealand Comprehensive Strategic Partnership. Encouraged by recent high-level mutual visits, New Zealand companies, including Fonterra which is attending the CIIE for the eighth time, hold high expectations for the ongoing import-themed expo.
The Chinese market is not just a sales destination for the dairy cooperative; it is a vital engine for new product development. Fonterra has established a total of six application centers in China to work directly with local partners. The purpose of these centers is to harness its dairy ingredients to develop new applications that are tailored to local cuisine and designed to meet the rapidly evolving and upgrading Chinese consumer market needs.
Chairman McBride emphasized the critical role of the Chinese market in driving the company’s research and development globally. He stated that the “agile innovation and diversified consumer demand in China” make the country “one of our most vital innovation laboratories,” with influence extending beyond its borders to the global market. This recognition positions China as a testbed for dairy concepts that may eventually be rolled out internationally.
This week’s CIIE showcased the strong expectations New Zealand companies have for China, with products ranging from fruit juice, honey, and bottled water on display, according to Xinhua News Agency. For the dairy sector, Fonterra’s continued investment in local innovation and its strategic market view confirm China’s status as a key indicator of future global dairy trends and a non-negotiable partner for major international dairy manufacturers.
Source: Find the complete interview with Fonterra Chairman Peter McBride at Global Times.
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