There's no denying the opportunity offered by the Asian nutraceutical industry. Research by Euromonitor reveals that an ageing, increasingly middle class population has boosted sales of functional food and drinks products by some 62 per cent over the period of 2007-2012.
In order to effectively tap into this opportunity, a huge amount of innovation is taking place across the region, with diverse and creative product application addressing the wide-ranging consumer preferences and health concerns that exist across Asia.
This year's Vitafoods Asia is celebrating the achievements of those companies that have successfully innovated in order to seize opportunities across ASEAN, with the launch of a brand new award - the Nutrition Innovation Award. This new award recognises companies that actively address health issues in their country. Companies which develop products that successfully align with consumer trends and preferences, can demonstrate efficacy of their products through extensive research and contribute to the education of consumers by clearly highlighting the functional benefits of their products need to be recognised.
The New Products Zone also returns to show off the best innovations to recently hit the market. Visitors actively seek new products and ingredients to help in their own new
product launches, and with over 80 products showcased here, the New Products Zone is expected to be a key focal point at Vitafoods Asia this year. A pollen extract that speeds up recovery after heavy exercise, a ginseng extract that tackles fatigue and konjac beverages for appetite control are just some examples of the latest innovations visitors are able to see.
Giving visitors a 360-degree perspective on the nutraceutical industry, the Finished Products Zone showcases a wide range of functional food and drinks and supplements for the retail market, while the Tasting Bar again gives visitors the chance to sample exciting functional food and drink products and decide which to explore further on exhibitor stands.
Vitafoods Asia has a global perspective and the International Pavilions make it easy for visitors to target exhibitors from specific regions such as the Americas, Belgium and Malaysia.
"Vitafoods Asia is the perfect forum to explore this rapidly developing market and gain the knowledge and insights necessary to tap into the opportunities it offers. We're also proud that this year we can celebrate the success of innovative companies in our sector with the brand new Nutrition Innovation Award," says Chris Lee, Portfolio Director, Vitafoods Asia.
"The Pan-Asian nutraceutical industry is experiencing huge growth - leading some experts to predict that sales will outstrip the U.S. - the world's largest nutraceutical market - in the next few years," adds Chris Lee.
Insights and learnings
Along with showcasing and celebrating innovative new products and companies, Vitafoods Asia provides vital insights for companies wishing to succeed in the region. Because understanding the business landscape is critical for market success, the Seminar Programme features sessions from associations, research companies and major industry players on consumer preferences and major trends, such as health ageing weight management and omega-3.
With regulation a major industry topic and understanding of regulatory frameworks crucial to success, Vitafoods Asia also features a three-hour workshop on regulation by EAS Strategic Advice. This outlines existing national regulations for health supplements in Asia and offers an overview of the harmonisation process in the region.
To register in advance for free entry to Vitafoods Asia, please visit http://www.vitafoodsasia.com/register
To keep up to date about the latest show news visit http://www.vitafoodsasia.com/, or join the debate in our LinkedIn group www.vitafoodsasia.com/linkedin.
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