At the upcoming Vitafoods Asia in Singapore, Asia Pacific’s nutraceutical industry will gather at the annual event to do business, uncover the latest product innovations and learn more about the market and its best practices
Amongst the 200 exhibiting companies, a wide-range of businesses will be presenting their high-quality, innovative finished products comprising dietary supplements, vitamins and functional food and beverages to the industry.
According to Zion Market Research, the global dietary supplements market is valued at $132.8 billion in 2016 and is expected to reach $220.3 billion in 2022, with a CAGR of 8.8% between 2017 and 2022.
In the same report, Asia-Pacific was found to be the largest market for dietary supplements in 2016, accounting for more than 31% share of the total volume of dietary supplements market, and researchers expect this trend to continue in coming years.
Vitafoods Asia provides the industry with the perfect platform for generating new business and building profitable relationships, by focusing on four key areas that range from ingredient to shelf: ingredients and raw materials, contract manufacturing and private label, services and equipment, and branded finished products.
With each edition, the event has witnessed a growth in the finished products sector, and this reflects the bullish market sentiments observed in research.
This year, a total of 34 brands will showcase a variety of retail-ready functional foods and beverages and dietary supplements from around the world.
Buyers, distributors, retailers and suppliers can look forward to uncovering the latest product innovations from companies such as Daiwa Pharmaceutical (Japan), Fortex Nutraceuticals (Bulgaria), LGC (United Kingdom), and Newtree Co. Ltd (Korea).
For many of the participating companies, the Asia market is the place to be with its immense growth potential.
As with past editions, attendees can explore the Inspiration Showcase and Tasting Bar for the latest launches and star products, which includes vastly different items that address a variety of needs – such as energy drinks, meal replacement bars, chewable supplements, and collagen jellies.
Visitors sourcing finished products can also look forward to education opportunities related to their areas of interest, such as the presentation on "Functional Food in Asia: Research & Validation," which is part of the newly introduced Life Stages Theatre that focuses on the specific nutrition requirements needed throughout the stages of a person’s life.
Those looking for more in-depth discussions can look towards the Vitafoods Asia Conference Programme and, in particular, the Market Trends and Consumer Insights, and Regulation and Ingredient Registration masterclasses.
Vitafoods Asia 2017 takes place from 5–6 September at the Sands Expo and Convention Centre at Marina Bay Sands.