Vitafoods Asia returns in 2018 to ensure the industry makes the most of its growth opportunities, by integrating a research-intensive, industry-centred environment. Vitafoods Asia attracts members that represent the entire nutraceuticals supply chain. Organisers expect some 5,500 visitors from over 60 countries to attend Vitafoods Asia, who come pre-dominantly from Asian countries. The Vitafoods Asia Exhibition will deliver over 300 exhibitors, representing a 40% increase in the number of exhibitors since 2017.
Japan and increasingly China, India, Australia, Korea, Thailand and Vietnam, are collectively growing the nutraceuticals market in Asia-Pacific by 7.5% year on year
Vitafoods Asia is a response to growing demand for nutraceuticals in functional foods and beverages. Japan and increasingly China, India, Australia, Korea, Thailand and Vietnam, are collectively growing the nutraceuticals market in Asia-Pacific by 7.5% year on year, rapidly expanding opportunities for development in the sector.1 This is expected to increase to 9.9% CAGR by 2025 and Euromonitor estimates the regional market will reach US$89.63 billion by 2021.
The event is a key opportunity to discover innovative and creative solutions to challenges faced by the industry’s professionals, get greater exposure to the industry’s latest product and service developments, and participate in new learning opportunities.
Visitors can extend their business network globally as the exhibition features 11 international pavilions this year. New entrants include New Zealand, Poland and Singapore.
Optimising health through science and innovation
Consumers, who now positively link health to diet, are creating demand for nutraceuticals in functional foods, beverages and dietary supplements. Such ingredients include pre-biotic and pro-biotic vitamins, minerals, fibres, proteins, omega 3 and structured lipids, amino acids and various other ingredients. In 2018, Vitafoods Asia is the event for these ingredients which are created from applied research and designed to be of high quality.
Some key exhibitors include KSM-66 Ashwagandha, the largest producer of Asheagandha; Sabinsa, a well-established (30 years) supplier of herbal extracts, cosmeceuticals, minerals, dietary supplements and specialty fine chemicals; and AstaReal, manufacturer of a powerful anti-ageing molecule, Natural Astaxanthin. Of the many exhibitors at Vitafoods Asia, two first time exhibitors include major US-Irish ingredients manufacturer Kerry, and Plantex, a large French manufacturer.
Spotlighting Omega-3 and Probiotics
Increased demand from China, Southeast Asia and other developing countries for Omega 3 means that the market for the most widely used nutritional lipid continues to grow as it controls inflammation. GOED estimates the market today globally is worth US$1.5 billion at the ingredient level.
Visitor attractions such as the Omega-3 Resource Centre and a Tasting Centre on the exhibition floor will be a highlight this year. Visitors can discover what new options for Omega-3 are available on the market and even obtain an Omega-3 blood test free of charge! The International Probiotics Association (IPA) suggests that the market for probiotics is experiencing unprecedented growth and may be worth as much as US$43 billion. Probiotics are widely used to ensure proper functioning of digestive system.
To showcase the latest breakthroughs in probiotic technology, to new areas of product development and consumer analysis, the organisers of Vitafoods Asia are introducing a new resource, the Probiotic Resource Centre, for the first time in Asia.
Addressing Asia’s ageing populations
Ageing populations drive demand for nutraceutical products
Currently home to 60% of the world’s 60 years or older population, Asia’s ageing population is expected to more than double from 547 million in 2016 to nearly 1.3 billion by 2050.1 Ageing populations drive demand for nutraceutical products, as evidenced by 47% of the Japanese population consuming nutraceutical products.
Vitafoods Asia’s Life Stages Theatre addresses matters of healthy ageing by delivering expertise on the specific nutrition requirements that are needed from infancy until later in life. It also includes sessions on regulatory guidance and marketing strategies as they relate to specific life stages.
Vitafoods Asia is the ideal place to build a network amongst the leading manufacturers, distributors, buyers and high-quality suppliers for the four key nutraceutical industry areas: Ingredients & Raw Materials; Branded Finished Products; Contract Manufacturing & Private Labelling as well as Services & Equipment.
References
- Mordor Intelligence, December 2017, nutraceutical-market" target="_blank">Asia-Pacific Nutraceutical Market - Growth, Trends and Forecasts (2018 - 2023)