Gold Coast Infant Formula Disruptor Goes Global
“Our growth has been phenomenal,” said Selasi Berdie, founder and CEO of Sprout Organic.
Within its first three months of trading from July 2021, Sprout was ranged in over 500 retail outlets. Six months later in 2022, its store footprint doubled to over 1,000. Currently, Sprout is distributing its formulas and eight children’s product lines to over 1,500 locations throughout Australia and New Zealand, including national ranging with Chemist Warehouse and Terry White Chemmart.
Commenting on the Sprout’s expansion into Saudi Arabia, Berdie said, “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 UAE.”
According to Euromonitor, Saudi Arabia is the fourth largest infant formula market in the world with a market size value of US $883 Million, while Malaysia ranks sixth at USD $573 Million.
“Malaysia was a target for us due to its growth potential. With high birth rates and population of over 30 million people, Malaysia has one of the highest forecast infant category growth rates at 9.34% and suits our current stage of business prior to taking on larger Asian markets” said Berdie.
Sprout team celebrating expansion into Malaysia; pictured at Sprout warehouse in Queensland
While he did not provide specific financial details, Berdie stated that Sprout is actively seeking private funding to take advantage of its international expansion opportunities.
Containing no dairy or soy, two of the nine most common allergens, Sprout Organic is well positioned in the market due to global rising food allergies in industrialised countries.
As featured by Channel 7 News Gold Coast (14/02/2023) embargo now lifted.
