Vitafoods Asia 2014: Hub for business and learning in Asia

THE ASIAN nutraceutical market has experienced unprecedented growth in recent years. In this industry, China is flexing its muscles, whilst emerging markets such as Indonesia is bursting with opportunity. In densely populated countries like India, demand for nutraceuticals and dietary supplements continues to soar. These are indications of Asia becoming the hub for new product development. 

According to research[i], the outlook for Asia Pacific’s nutraceutical, functional food and beverage, vitamin and dietary supplement industries is positive with a CAGR that may reach 11.5% over the period of 2012-2017. To be in the know, companies in this industry will find Vitafoods Asia a rich source of information, from innovation to understanding Asia's health and wellness needs. The show takes place from 3-4 September 2014 at the AsiaWorld-Expo, Hong Kong.

More than 170 suppliers from Asia and beyond will present their latest ingredients and raw materials to some 2,500 visitors. Exhibitors include ADM, Chr. Hansen, Epax, Huisong Pharmaceuticals, and Malaysian Biotech Corporation, who are all offering their market expertise to aide product developers in creating consumer-winning products.

Visitors can gain crucial information on key topics and trends that can be used to enhance marketing and business strategy. A growing middle class, rising ageing populations, soaring obesity rates, and the arrival of western companies and investment are all propelling demand in this dynamic region. Meanwhile, ASEAN harmonisation, as well as harmonisation between China, Taiwan and Hong Kong, will open up more opportunities for business in a region which is known for its complex regulatory environment.

Vitafoods Asia provides the local and global nutraceutical industry with a meeting place to discuss new business deals and debate hot industry topics to help them overcome challenges and boost growth opportunities in the market.

Launchpad for new products and technology

Now on its fourth year, Vitafoods Asia has established itself as a platform for showcasing the most recent innovations for health. This year’s event is once again geared towards highlighting the industry’s latest ingredients, products, technologies and research so that visitors can gain product inspiration.

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 per cent, Icelandic moss for use as a cough remedy, and cholesterol-reducing capsules that include red yeast rice, fenugreek, and garlic.

Shelf-ready products

Besides ingredients, finished products will be on display for retailers and distributors to see. The Finished Products Pavilion will showcase 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 is the place where visitors can try and compare products across a range of categories, including 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 manufacturers ensure they are developing fresh products that align with consumer demand and expectations. At Vitafoods Asia, the show floor is awash with opportunities to source raw materials and ingredients, as well as learn about trends and legislation that help put brands on the road to success.

Making its debut this year, Market Insights Hub is a seminar theatre that offers access to industry specialists from the likes of the China Healthcare Association, Euromonitor, Frost & Sullivan, The Healthy Marketing Team, and Mintel. These free-to-attend sessions are designed to offer impartial insight on the latest innovations, emerging trends, and how to access specific geographical markets, that attendees can use to improve their business strategies and operations.

Also new for 2014 is the Innovation Station, in partnership with Mintel, which acts as a global guide featuring the latest trends and product development in beauty and weight management ingredients – two key categories for the future of nutraceuticals. Visitors can hear from Mintel analysts as they provide interactive demonstrations on products that deliver benefits in these areas, while 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 just 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, during which specialists walk attendees through labelling and health claim law around Asia Pacific. For insight into regulations after 2015, visitors can book on to the ASEAN Harmonisation Implementation Workshop (also free) which delves further into new and existing national regulations for health supplements in ASEAN countries focusing on topics such as developing pan-ASEAN marketing strategies and technical requirements for harmonisation. Visitors can also attend the sessions in the Market Insights Hub and get insight into trends, innovation and specific market information that tie in with the regulatory landscape.

As well as market, trends and regulation, visitors can learn about the latest ingredient and technology launches direct from exhibitors in the Exhibitors Presentation Theatre. This ingredient knowledge can be combined with expertise gained elsewhere at the show to help manufacturers create innovative product concepts that match market trends, are compliant with regulation, and use the latest ingredients.  

Running alongside Vitafoods Asia is the new Vitafoods Asia Conference and a series of masterclasses which draw on the expertise of the Vitafoods Portfolio in delivering thought-leadership content on the industry’s most pertinent topics and issues.

A truly international line-up, including speakers from Australia, India, Malaysia, New Zealand, Spain, and Taiwan, share their insights on topics as wide-ranging as weight management, active ageing, indigenous ingredients, dietary lipids, and functional beverages.

To enable visitors to make the most of their visit, the conference takes a modular format allowing visitors to book only the most relevant sessions – leaving them time to explore the ingredients and content available on the show floor.

Masterclasses also offer a deeper understanding of topics key to launching products that use new ingredients and raw materials. The Healthy Marketing Team offers first-hand advice on the ‘FourFactors^? for Growth Market Success’, covering everything from launching successful brands in growing economies to protecting a brand from incomers to the market. In the Botanicals and Natural Extracts masterclass by Lodaat Pharma, delegates are offered a greater understanding of botanical ingredients, how modern scientific methods can improve nutraceutical manufacturing processes, and best practice in herbal ingredients.

Chris Lee, Vitafoods Portfolio director said, “The Asian nutraceutical market is bursting with opportunities for manufacturers. By seeing new ingredients and raw materials, as well as gaining a better understanding of consumer and health trends, manufacturers can create products that break ground with new and existing customers.”

To register in advance for free entry to Vitafoods Asia, please visit http://www.vitafoodsasia.com/register.

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[i] Ken Research, Asia-Pacific Nutraceuticals Industry Outlook to 2017- India and China to Lead Growth, April 2014.