For the first time ever, the flagship event Fi Asia will be hosted alongside Vitafoods Asia this year, connecting even more buyers and suppliers in the booming nutrition industry. The co-located shows will take place on 5-7 October 2022 in person at Queen Sirikit National Convention Center (QSNCC) in Bangkok, Thailand, as well as online.
Fi Asia brings together local, regional and global ingredients suppliers, distributors and F&B manufacturers. Therefore, the event is complemented by Vitafoods Asia with its focus on nutraceutical ingredients and finished dietary supplement solutions. Together, both shows attract an international audience of more than 600 exhibitors and 21,000 attendees from across the globe.
With these co-located exhibitions, Informa Markets wants to give exhibitors and visitors a greater variety of options to better suit their needs. Covering all the categories and trends in the food and nutrition market, and supporting the development of this important and growing sector, Vitafoods and Fi Asia promise buyers and sellers of functional ingredients and dietary supplements all the tools necessary for boosting their business.
Soaring demand for nutraceuticals
Health-conscious consumers are steering both the food & beverage, and nutraceutical markets. Their desire for better, more natural and healthier food and beverages, is driving food and ingredients manufacturers to offer functional products or specialist foods within their portfolios, in addition to standard solutions.
The Asia Pacific region is expected to see huge opportunity for growth over the next few years as the nutraceutical and functional food industry embraces these shifts, in lifestyle trends and wellness habits. The SEA nutraceuticals market is expected to grow at a CAGR of 8.8%, primarily driven by robust consumption of functional beverages. Functional food and drinks are on the rise too, with nutraceuticals set to capture the emerging interest in healthy trends and wellness habits.
Thailand is one of the biggest markets in the APAC region, with the Thai Ministry of Commerce reporting sales of $3.5 billion across the nutraceuticals industry back in 2019. It says that the three key trends are products aimed at healthy ageing, natural supplementation and personalised nutrition.
Market analyst Mintel agrees, and says the Thai market is being driven by a surge in demand for beauty and weight loss supplements, as well as sports nutrition products. Consumers who are willing to spend more on health supplements in a bid to look younger and more attractive, coupled with growing awareness of the importance of good health, are also expected to positively impact the nutraceuticals market. Its research reveals that the demand for nutraceuticals is greater among higher-educated, higher-income millennial Thai women living in urban areas. The pandemic has also led to consumers throughout Asia increasingly seeking products that support immune health, particularly vulnerable groups.
“The COVID-19 pandemic and outdoor pollution has resulted in increased interest in health among consumers,” says Pimwadee Aguilar, Mintel's Associate Director, Food & Drink, Thailand. “This has created more exciting opportunities for vitamins, minerals and supplements which offer convenient and natural preventive health solutions.”
Natasha Berrow, Executive Vice President Food: "Bringing together Fi Asia and Vitafoods Asia is a timely move, and one which will allow visitors and attendees to gain insights into ingredient innovations and trends throughout the entire supply chain. It is also the perfect opportunity to network and discover suitable solutions and partners – as well as a big platform of ideas.”
Key exhibitors will include ADM, Beneo, Bunge, DSM, Gnosis, IMCD, Jebsen&Jebsen, Lonza, Pharmalinea, Synformulas and Vidya Herbs.
Fi Asia show highlights include innovation tours hosted by NutriMarketing, which will allow visitors to explore the show floor in an efficient and informative way. And, as always, Innova will be powering the Innovation Zone, while Mintel will be hosting a series of online webinars.
 Source: http://www.fnbnews.com/Top-News/market-in-south-east-asia-growing-at-88-cagr-66007
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