With the Asian Pacific nutraceutical market expected to account for more than 30% of the entire global market by 2017, Vitafoods Asia 2014 once again becomes the focal point for the vibrant Asian nutraceutical industry when it returns to Hong Kong this September. All eyes are on Asia as the region establishes itself as a business hub for new product development.
According to research, the outlook for Asia Pacific’s nutraceutical, functional food and beverage, vitamin and dietary supplement industries is positive, with CAGR predicted to reach 11.5% over the period of 2012-2017.
At Vitafoods Asia, the international and regional nutraceutical community will come together to discuss new business partnerships, discover new ingredients and technologies, unearth new market opportunities, and learn how to tap into issues such as obesity and cardiovascular disease.
Manufacturers have never been in a better position to meet burgeoning demand in the region and the key to success is identifying how new ingredients and technologies can be applied to product development strategies to target consumers effectively.
More than 170 suppliers from Asia and beyond are preparing to present their latest ingredients and raw materials at Vitafoods Asia to an audience of 2,500 visitors. Exhibitors include ADM, CHR Hansen, Epax, Huisong Pharmaceuticals and Malaysian Biotech Corporation, who are all offering their market expertise to aid product developers in creating consumer-winning products.
In addition to this, visitors can also gain crucial information on key topics and trends that can be used to enhance marketing and business strategy. A growing middle class, an increase in ageing populations, soaring obesity rates and the arrival of western companies and investment are all propelling demand in this dynamic region.
Discover ingredient and product innovation
Now in its fourth year, Vitafoods Asia has established itself as a platform for showcasing the most recent innovations to hit the market.
The popular New Product Zone helps visitors pinpoint ingredients that have been launched in the last 12 months. Examples include a melon extract capsule that promises to reduce cellulite by 11%, Icelandic moss for use as a cough remedy and cholesterol-reducing capsules that include red yeast rice, fenugreek and garlic.
Retailers and distributors can also discover shelf-ready products in the Finished Products Pavilion. Here, suppliers from Asia and beyond will showcase a range of functional food and drink products that can be adapted to fit with existing product lines to create a new and exciting proposition.
The Tasting Bar brings the consumer experience to life, allowing visitors to trial and compare products across a range of categories. This year’s crop includes a natural fruit sweetener as an alternative to white sugar, protein-packed hazelnut cookies, and vitamin jellies for children.
Staying ahead of the competition means understanding how new ingredients and raw materials can be used to tap into market opportunities. With trends such as weight management, obesity, heart health and active ageing presenting their own unique opportunities and challenges, it is essential that manufacturers develop fresh products that align with consumer demand and expectations.
Vitafoods Asia offers plenty of opportunities for sourcing raw materials and ingredients, as well as for learning about trends and legislation that help put brands on the road to success.
New for 2014 is the Market Insights Hub, a seminar theatre that offers participants access to industry specialists from China Healthcare Association, Euromonitor, Frost & Sullivan, The Healthy Marketing Team and Mintel. These free-to-attend sessions are designed to offer insight on the latest innovations, emerging trends and how to access specific geographical markets.
Also new for 2014 is the Innovation Station. Visitors can hear from Mintel analysts as they provide interactive demonstrations of innovative products. A product showcase also highlights a range of concepts from around the world that use innovative ingredient claims for beauty and slimming benefits.
Regulation is one of the industry’s buzzwords and visitors and exhibitors have plenty on offer to help them better understand complex legislation that differs throughout the region. For one-to-one advice on specific pieces of legislation, visitors can book free regulatory advisory sessions with EAS Strategic Advice. For insight into regulations after 2015, visitors can register for the ASEAN Harmonisation Implementation Workshop which delves into new and existing national regulations for health supplements in ASEAN countries.