08:41 AM EDT, 04/02/2024 (MT Newswires) -- Else Nutrition Holdings Inc. ( BABYF ) reported Tuesday the launch of its plant-based infant formula and toddler drink in Australia.

The Follow-On formula is available for infants aged 6-12 months while the Toddler Drink is for toddlers aged 12-36 months.

Both products are now available on Amazon in Australia, and the company plans to roll them out through other online retailers and brick-and-mortar retail locations.

Else said the Australian market served as a kickoff point for the planned expansion of its entire product line across the Asia-Pacific region.

The baby, infant and toddler food market in the region is expected to grow from US$50 billion in 2021 to over US$75 billion in 2028, the company said, citing data from Research and Markets.

"We are extremely proud to officially launch our infant formula and our toddler drink in Australia, serving as a beachhead for the planned global expansion of our range of breakthrough products," CEO and Co-Founder Hamutal Yitzhak said.

The company lost 3.4% yesterday.