Vitafoods Asia 2017: Uncover Opportunities to Enter Burgeoning Nutraceuticals Market
New Venue and City, Bigger and Better Experience
Come September, Asia’s nutraceutical, functional food and beverages, and dietary supplement industries will gather in Singapore for Vitafoods Asia, the regions’ only event dedicated to these markets. Despite what crowd sentiment and ‘common sense’ say about the global economy, many of those we’ve spoken to have expressed positivity about the future of their companies.
According to Allied Market Research1, the global nutraceuticals market size is expected to reach $302,306 million by 2022, with a CAGR of 7.04% from 2016 to 2022. Asia Paci c is expected to surpass the global growth average with a CAGR of 7.33%, making noteworthy contributions to the global market.
Increasingly, consumers believe that supplements can help them achieve their nutrition goals, and this signals a wide open market with plentiful opportunities. Based on our interactions with industry players, we expect personalised nutrition and probiotics to feature strongly in this year’s Vitafoods Asia.
Herbalife revealed the results of its Asia Pacific Balanced Nutrition Survey2 earlier this year, and it showed that one in three consumers are keen on personalised nutrition products and nutrigenomics. However, due to a lack of practitioners in the region, such products have generally been too costly for consumers. Separately, probiotics is likely to remain a popular category, given the size of the Asia Pacific market – accounting for an estimated majority share of 38% in 20163 – and the rising awareness of health benefits associated with it.
This year, Vitafoods Asia will be held in Singapore for the first time ever. Twice as large as before, with over 250 exhibiting companies, the seventh edition will present more of the best innovations that the industry has to offer. As Asia’s leading food and nutrition hub, Singapore houses many R&D centres and regional of ces from leading F&B companies around the world. For Vitafoods Asia, this strategic move will bring in new visitors from other parts of the world and maintain the show’s reach in Asia Pacific.
As with previous editions, the nutraceutical event for Asia will cover four key industry areas – Ingredients & Raw Materials, Contract Manufacturing & Private Label, Services & Equipment, and Branded Finished Products – offering a more focused and targeted content across all segments.
Returning Event Highlights
Visitors interested in uncovering the latest launches and core products can head over to the Inspiration Showcase, featuring a wide range of products – such as energy drinks, meal replacement bars, and collagen jellies – that address a variety of needs. Those seeking the opportunity to see, touch, and taste the latest functional food and beverages in order to make informed purchasing decisions can head to the Tasting Centre, where visitors are also encouraged to vote for their favourite product in the annual Tasting Centre Awards.
Attendees looking to keep up-to-date with key developments in the industry can pay a visit to the Market & Trend Overview area of the show. There, experts from Innova Market Insights will offer a range of poster and tablet device presentations that delve into carefully selected health categories to broaden visitor’s understanding on the pan-Asian market leading ingredients, products, and consumer trends.
The popular Omega-3 Resource Centre also makes a return, bringing new trends and product developments from the market. Industry members can learn all about the Omega-3 supply chain and even access market data on selected topics at the focused knowledge hub.
In addition, attendees can further expand their network and knowledge at the New Exhibitor Pavilion, where new entrepreneurial businesses and start-ups in the industry will be exhibiting for the very first time. The coming edition also offers the highest number of International Pavilions. Visitors planning to source from speci c countries can narrow their search by zooming in on the 8 pavilions – Australia, Canada, France, Germany, Japan, Poland, Taiwan, and USA.
New Education Opportunities
Apart from gaining access to the latest innovations and networking opportunities, attendees can look forward to new educational offerings lined up at Vitafoods Asia. This year, the revamped Vitafoods Asia Conference will be split into two segments: four 1/2-day Masterclasses and a full-day Digestive Health & Microbiome Summit. Those seeking complimentary learning opportunities on the show oor can expect two brand-new presentation theatres. The Innovation Theatre is a two-day programme dedicated to the future of the Asian nutraceutical and functional nutrition industry, and it explores the upcoming industry developments in the categories of Open Innovation, Personalised Nutrition, and New Technology. Separately, the Vitafoods Asia Life Stages Theatre is designed to examine on the specific nutrition requirements throughout the human life stages, focusing on three core themes – Infant & Maternal Health, Adult Health, and Healthy Ageing.
Last, attendees looking for a successful market access to Asia can also seek regulatory advice at the new Industry Experts Advice Centre, featuring regional and pan-Asian market and regulatory experts. Interested parties can visit the Vitafoods Asia website prior to the event to secure a free 1-2-1 consultation.
My team and I look forward to welcoming industry professionals from all over the world at Vitafoods Asia 2017.
- Allied Market Research, Nutraceuticals Market by Type – Global Opportunity Analysis and Industry Forecast, 2014-2022, Dec 2016
- Herbalife, Asia Pacific Balanced Nutrition Survey Findings, 5 April 2017
- Mordor Intelligence, Asia Pacific Probiotics Market (2017-2022), May 2017
Managing Director, Global Health and Nutrition Network, Europe. Informa Exhibitions