Informa Markets to Organize Vitafoods Asia 2023
Aiming to Drive Thailand as the Dietary Supplements and Ingredients Hub
Informa Markets (Thailand) sets to organize “Vitafoods Asia 2023,” Asia’s leading event for functional ingredients & dietary supplement products and solutions, from September 20-22, 2023 at Hall 5-7, LG Floor, Queen Sirikit Convention Center (QSNCC).
The exhibition expects to welcome over 460 suppliers and connect more than 8,000 visitors worldwide, helping them to increase business and opportunities, stimulate new investments, and create value-added products. Vitafoods Asia 2023 will also enable business peers to ride on the rapidly growing trend of health-conscious lifestyle.
Ms. Rungphech Chitanuwat, Regional Portfolio Director – ASEAN, Informa Markets Thailand, said the dietary supplement industry has grown significantly in the past few years. The growth is driven by global health-conscious trend where consumers pay more attention to their health and well-being. While they select more nutritious foods, health-conscious consumers also look for dietary supplements to maintain good health and to treat some illnesses.
“Asian dietary supplement market is growing significantly in Asia. According to the Healthy Marketing Team (HMT), it is forecasted that the market will experience a rise by 6% CAGR. The market value will reach 2.29 billion US dollars in 2026. Such growth is driven by the global health-conscious trend and technologies and innovations adopted by the industry. New product development worldwide will make the market even more vibrant, which attracts both existing and new investors to this industry,” said Rungphech.
The rapid growth in the market and Informa Market’s commitment to seeking new opportunities for Thai business operators, Vitafoods Asia 2023 was held in Thailand to be Asia’s leading event for functional ingredients & dietary supplement products and solutions.
Vitafoods Asia 2023 aims to break obstacles in terms of product quality and reliability of producers and solution providers. Various activities and special zones are designed to increase business opportunities for visitors. The event will be the gathering place for like-minded people in health and nutrition to source suppliers, ingredients, dietary supplements, subcontractors, and innovative service providers.
Dr. Uracha Ruktanonchai, Executive Vice President, National Science and Technology Development Agency (NSTDA), said that NSTDA has promoted science-based research related to food, dietary supplements, herbs, and functional ingredients. Technologies and innovations are elevate the value chain to those products and improve Thai food and health product industry. At the same time, NSTDA has promoted the use of natural ingredients, such as probiotics, prebiotics, postbiotics, starter culture, food enzyme, peptides, herbal extracts, and microbes, as the key ingredients in product development. These products are carefully tested to prove their efficiency and ingredients safety, as well as their opportunity to help local producers lower their production costs, reduce the import of raw materials and technologies. Research and development will help boost food producer capability and significantly drive industrial growth in the future.
Mr. Nakan Tawichawat, the Director of Dietary Supplement Industry Club, the Federation of Thai Industries (FTI) said that Thailand’s food supplements and herbs is a huge market with high opportunity and can generate high income. At present, this market value is 30% larger than beauty products and cosmetics. In 2024, this segment has high growth potential. The development of aging society and the fact that people resume normal lifestyle in post-pandemic period are key factors boosting health trend. As a result, dietary supplement demand has been significantly increased. Competition will also intensified and marketers have to constantly monitor the situation. It is likely that new business operators will enter the market.
Mr. Meatha Simavara, Chairman of Herbal Industry Club, the Federation of Thai Industries (FTI) said that Thailand is a major production source of herbal and natural ingredients with high quality and large variety. However, the lack of knowledge, technologies and innovation has hindered the development of value-added products. If this issue is well addressed, Thai herbal industry will have higher potential. The country needs to highlight different properties of each type of herb by using advanced technologies in research and development of dietary supplement products. This will expand the opportunity for Thai herbal extracts in the international market and, therefore, boost the country’s herbal and food product industry in the future.
Vitafoods Asia 2023 is the only exhibition providing insights and a wide variety of dietary supplements, technologies, and innovations from suppliers worldwide. During the three-day event, visitors will also have the chance to learn more about specific products and innovations, such as probiotics in the ‘Probiotics Resource Center,’ Omega-3 in the ‘Omega-3 Resource Center,’ and innovative extracts and dietary supplements in the “New Products & Ingredients Zone”.
At the international pavilion, leading dietary supplements and functional ingredients from many countries, like Belgium, China, Japan, South Korea, Poland, Spain, Taiwan, and the USA, will be displayed.
At the “Innovative Health Hub”, visitors will explore Asia’s latest health and nutrition trends. The ‘Main Stage’ and ‘NutraFocus’ zone will feature in-depth information about holistic healthcare, as well as panel discussions and talks on future trend by dietary supplement and functional food specialists and business leaders.
Rungphech added that Vitafoods Asia 2023 would be a significant event. Business operators should not miss out on this opportunity to connect with worldwide buyers, producers and international business networks. The event will open new opportunities that will bring local businesses to the Asia Pacific market.
Vitafoods Asia 2023 not only provides added value but provides visitors with the opportunity to learn and have easy access to the entire supply chain. At the same time, it will attract people in the functional ingredients and dietary supplement industry across Asia, including Malaysia, Indonesia, Vietnam, China, Singapore, the Philippines, India, Japan, Cambodia, and Thailand. In addition, visitors will have easy access to the latest innovations, insights about market trends, and new ingredients for future products.
“Informa Markets is strongly committed to enhancing and empowering dietary supplements and functional ingredients business. Through adoption of the latest technologies and innovations, businesses will be able to increase operational efficiency, improve product quality and optimize production process. With these improvements, local businesses will be ready to enter the global market and bring better health and quality of life to consumers across Thailand and Asia.
This year, Vitafoods Asia returns on a bigger scale, covering an exhibition area of over 15,000 square meters and supporting over 460 worldwide dietary supplement suppliers. The event is expected to welcome more than 8,000 visitors and create additional values and opportunities for people in the industry.
Vitafoods Asia 2023, Asia’s leading event for functional ingredients & dietary supplement, will be held from September 20-22, 2023, at Hall 5-7, LG Floor, Queen Sirikit National Convention Center. To participate in the event, please register at Visitor Registration – VFA (imasia-passport.com)
