UK competition watchdog to investigate baby formula market
by Mark Sweney from Economics | The Guardian on (#6GR3G)
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The competition watchdog is launching an investigation into the baby formula market after finding manufacturers raised prices by 25% in two years and managed to increase profit margins during the cost of living crisis.
There are just two dominant companies - Danone and Nestle - accounting for 85% of sales. The Competition and Markets Authority said it was concerned there was too little choice in the market, with a very limited number of own-label products, and that very few parents were switching to cheaper alternatives where available.
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