For the 6 month from 9/20 to 2/21 China Feihe offline market share grew 0%
their online market share at the same time grew ~1% with a big drop in November which coincide with biggest online sales event 11/11, Also November is a month with the biggest sales of IF during a year (see below, that data from 2017 but I would guess will be similar to other years).
So, I would not be so sure Feihe was gaining to much share during the last 6 month
One more note. Domestic brands dominates the lower-tier market. And in this market Feihe is number one. However 1st and 2nd tier dominated by foreign brands. But market share of lower-tier cities is growing and I think this is where a2 need to expend and rather quickly.
"The biggest advantage of most domestic brands is their ability to organize channel services in lower-tier cities. An important fact is that in the past two years, the birth rate in China has been declining, and the number of newborns in third to sixth tier cities accounts for 80% of all births. The market of lower-tier cities accounts for nearly 60% of China’s infant formula market [3]. At a macro level, growth in China's infant milk powder market is currently stagnant. However, third and lower-tier cities, have faster population growth and greater demand for infant formula consumption. In these cities, domestic stakeholders are dominating."
Chart Update, page-18926
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