Retail in Asia

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Aussies cash in on dining exports to China

Asian consumers determined to improve their lifestyle are boosting the fortunes of Australian producers of premium baby milk formula, vitamins and honey, as the region’s burgeoning middle class jumps on the health food bandwagon.

With their expanding wallets, middle class consumers are fueling a sharp increase in sales of high-quality products from Down Under, sending the profits and share prices of health foods companies — particularly producers of infant milk formula — into unprecedented territory.

They are led by Chinese consumers fearful of lax food safety standards at home, where cost-cutting by producers have resulted in deaths and health scares.