On July 25, Nestlé released its 2024 half-year report, showing that its total sales decreased by 2.7% to 45 billion Swiss francs, with organic growth of 2.1%, pricing contribution of 2%, and real internal growth of 0.1%.

In developed markets, Nestlé Group's organic growth rate in the first half was 1.0%, mainly driven by pricing contribution and negatively impacted by real internal growth. In emerging markets, its organic growth rate was 3.7%, driven by pricing contribution, with real internal growth nearly flat.

In the first half, Nestlé's Greater China region achieved net sales of 21.5 billion yuan. The food and beverage business achieved organic growth of 1.6%, including real internal growth of 2.9% and a pricing contribution of -1.3%. The growth of the Greater China region was supported by the sustained growth momentum of out-of-home channels and e-commerce channels, especially with real internal growth reaching 3.8% in the second quarter. The decrease in pricing contribution was mainly affected by intense competition in the food and beverage industry.

In terms of product categories, Nestlé's coffee business in Greater China achieved high single-digit growth, mainly benefiting from the support of Nestlé's ready-to-drink coffee products and the launch of new functional products; thanks to continuous innovation and customer expansion, Nestlé Professional achieved high single-digit growth in its food service business; products including CRISPY SHARK, Hsu Fu Chi, and KitKat drove high single-digit growth in the confectionery business; relying on the launch of Purina's new Pro Plan product and its performance in e-commerce channels, Purina's pet care business achieved double-digit growth; the condiments business grew flat, benefiting from contributions from out-of-home channels and e-commerce channels; despite negative growth, the infant nutrition business performed better than the overall industry level; the milk products business showed negative growth, reflecting the overall slowdown in the milk market.