Feihe Dairy, the domestic leader in infant and toddler formula production, said in the first four months of the year the company's revenue has grown more than 60 percent, on track to compete its target of 10 billion yuan ($1.56 billion) in sales this year.

Cai Fangliang, president of Feihe Dairy, said Feihe, now ranked No 1 among domestic baby formula milk producers, has seen its high-end sector grow more than 200 percent in 2017 year-on-year. China Feihe has also seen total revenue growth of more than 45 percent in the same period, according to the company. Its total sales reached 6.8 million yuan ($980 million) in 2016.

Of the top 10 milk formula brands in China, Danone's Nutricia took up a 10.6 percent market share in 2017, followed by Nestle's Illuma at 9.1 percent and Royal Friesland-Campina's Friso at 7.4 percent. Feihe International's Firmus ranks No 4, with a market share of 6.7 percent according to Euromonitor International.

Feihe International acquired Vitamin World, the third-largest nutritional supplements retailer in the United States, for $28 million last December.