Tarun Malkani, the CEO of Nestle SA’s Gerber Products Company, said last week that he expects the US infant formula shortage to improve by October.
Malkani said the Nestlé company is still in “critical task force mode.”
During a Thursday media event at Nestle’s US headquarters in Virginia, he said that Gerber increased market share as it produced formula to meet the surging demand.
The Gerber Products Company, which makes the Good Start line of infant formulas, now has a market share of roughly mid-9%.
MICHIGAN ABBOTT PLANT RESTARTS PRODUCTION OF SIMILAR BABY FORMULA
Prior to the shortage, its market share was around 8.5%.
“We need the marketplace to rebalance,” Malkani said, noting that Gerber had “pruned” novelty infant formula to focus on those most needed.
The company also flew in supplies from Europe to the US under the White House’s Operation Formula Fly.
In August, Walmart – the largest retailer in the country – said the availability of formula was improving.
CLICK HERE TO READ MORE ON FOX BUSINESS
Target also said it has seen supplies improve, although saying it was still rationing the product online and in stores.
Millions of babies in the US rely on formula, which is the only source of nutrition recommended for infants who aren’t exclusively breastfed.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
COVID-19 pandemic-related supply chain issues were exacerbated when Abbot Nutrition, the largest producer of baby formula in the US, recalled some formula and closed a Michigan manufacturing plant earlier in the year.
FOX Business’ Paul Best, Reuters and The Associated Press contributed to this report.