goat milk formula is about 5% of the chinese market
85% of the market is chinese goat brands; 15% imported goat formulations
after new registration rules will be limited to 120 chinese CNCA plants and 80 foreign plants.
Total market will be 600 formulations (if all are registered); 240 international brand formulations
estimated to be approximately 15 international goat brands in the market after Jan 1, 2018
Capital Raising Offer to Limited Parties, page-16
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