TOKYO -- Japan's Meiji is venturing into Cambodia's powdered milk market with the same formulas it sells at home, taking advantage of compatible standards to tap demand that the food company expects to grow rapidly.

Meiji started shipping products in their original Japanese packaging directly to Cambodia this month, adding Khmer-language labels that include important information such as instructions and expiration dates.

The products, made for children up to age 3, will cost $25 to $28 for 800-gram containers, a relatively high price for Cambodia. Meiji is starting with baby product stores in Phnom Penh and aims to expand throughout the country, targeting 1 billion yen ($7.36 million) in sales by 2030.

Meiji will be up against Nestle, France's Danone and U.S.-based Abbott Laboratories, which all offer competing products in Cambodia at the same price range. Japanese drinks giant Asahi Group Holdings has rolled out the Wakodo baby formula brand in the market.

The export arrangement is a first for Meiji. Though the company also sells powdered milk products in Vietnam, Hong Kong, Taiwan and elsewhere, these are formulated differently to meet the standards of each market. Its Japanese products meet Cambodia's standards, allowing for them to be sold directly there.

The International Monetary Fund estimates Cambodia's population at 16 million this year, up about 10% from 2012. Per-capita gross domestic product is estimated at $1,751, a gain of roughly 80% from a decade earlier.

Meiji projects Cambodia's baby formula market to be worth roughly 10 billion yen in 2030. The company aims to capture a 10% share.