“Vitafoods Asia 2024” Poised to Boost
Nutraceutical Trend and Drive the Market to Reach 239 billion Baht
“Vitafoods Asia 2024,” leading nutraceutical event for Asia, is set to bring new excitement to the nutraceutical industry which is expanding rapidly worldwide thanks to the healthcare trend. Informa Markets (Thailand), the organizer of the event, promises to bring exciting innovations, technology, ingredients and health products to showcase at the event. Vitafoods Asia 2024, scheduled for 18-20 September 2027 at Hall 1-3, Queen Sirikit National Convention Center, Bangkok, Thailand, is hoped to also support the rapidly growing Thai nutraceutical market which has a strong potential to reach 230 billion baht value by 2026. The event is expected to welcome over 10,000 participants this year.
Ms. Rungphech Chitanuwat, Regional Portfolio Director – ASEAN, Informa Markets said that Asian nutraceutical market is expanding significantly. Thailand is a major market with 190 million baht value in 2022 and forecasted to expand to 239 billion baht in 2026 as reported by Euromonitor International.
The strong trend is driven by continuous launches of innovative products and the strong health trend momentum. Thailand is a major market that attracts attention from both existing market players and new entrants.
Vitafoods Asia 2024 is an exhibition designed to meet diverse needs and interests of people in industry and health-conscious consumers. Euromonitor reported that more than half of Southeast Asian consumers believe that in the next five years they will have better health in the next and the Climate Change will have more impact of their lives. Healthy foods will, therefore, play a key role in maintaining good health in the future.
Vitafoods Asia 2024 is an annual event aimed to grow the network of people in nutraceutical industry. The event will serve as a platform to promote learning and long-term cooperation among people in the industry. It, at the same time, provides an opportunity for businesses to find high quality ingredients and products, meet directly with manufacturers, innovators and technical experts, and exchange knowledge and experience with suppliers.
This year, more than 600 brands from 70 countries will participate in the event. Each products and solutions will be organized in different zones, including ingredients and raw materials, contract manufacturer and private label, branded finished products, food supplements, vitamins, natural ingredients, herbal extract, nutritional products, packaging and related equipment.
Also, part of the event is the innovation zone featuring business know-how seminars such as trend and potential in the food supplement markets in Asia and Australia, registration of herbal products, labelling of food supplements for the elderly, marketing strategies for food supplements, food supplements for pets, research update on Pre-Pro-Postbiotics, Collagen Peptides, Ashwagandha and mushroom extracts, etc.
Other highlights at Vitafoods Asia 2024 can be found in the New Products & New Ingredients Zone, the Tasting Bar and the Vitafoods Asia 5K Run.
Visitors will also find more interesting products from government sector and leading universities in the Academic to Commercial Zone, Lift Elements activities, Innovation Health Hub which presents new trend, and the Sustainability Square. The two talk stages are set to share experience and insights from people in the industry.
Vitafoods Asia 2024 also contributes to the Thai food supplements industry, creating added value to agricultural products, growing new business opportunities, and enabling Thai food supplement business to grow in the international market. It also encourages businesses, general public and students to participate in the Vitafoods Asia Nutraceutical Awards 2024, held under “Local Ingredients to Global Nutraceuticals” theme. Winners will receive quality certification and opportunity to further develop and commercialize their products as well as to have their products showcased in the Vitafoods Asia 2024.
Target group of the event are producers, distributors, advisors, retailers, researchers, scientists, academics, importers, wholesalers and trade associations related to nutraceuticals, foods, food supplements, medicine, health foods, drinks, personal care products. The event expects to attract more than 10,000 participants.
“Informa Markets has a strong commitment to supporting Thai businesses and increasing their access to new business opportunities. We hope to help Thailand becoming the nutraceutical manufacturing hub and market in Asia,” said Rungphech.
Dr. Kittiwut Kasemwong, Leader of Nano Agricultural Chemistry and Processing Research Team, National Science and Technology Development Agency (NSTDA), noted that NSTDA focuses on adding value and upgrading Thailand’s food and health-related product market with emphasis on natural ingredients. The agency has promoted the use of herbal extract and microbes to develop health-promoting products, which also has potential to reduce production costs, dependence on imported products and technology. At the same time, local operators’ capability is promoted. All these are NSDTA’s effort to drive industry’s growth.
Dr. Natthapasut Phattirasinsiri, Director of Biotech Industry Club, the Federation of Thai Industries (FTI), said that Thailand has an advantage on medical and health technology, especially biomedical science. The country’s large biodiversity has contributed to national competitiveness and is a key factor promoting researches on health and medical products, functional foods, herbs, biopharmaceutical products, and active pharmaceutical ingredients (APIs). This is key to support the development of Thailand’s medical and health products, which also helps reduce imports. More importantly, this will support Thailand development as a knowledge economy with strong income generation potential.
Mr. Nakan Tawichawat, Director of Dietary Supplement Industry Club, the Federation of Thai Industries (FTI) said Thailand’s food supplements and herbs has high growth potential driven by the increasing ageing population. The food supplement market currently accounts for over 30% of the beauty, cosmetics and food supplement market.
Vitafoods Asia 2024 will open new opportunities for businesses and drive growth of the Thai nutraceutical industry. The general public and those interested in food ingredients and health foods are invited to participate in the event scheduled for 18-20 September 2024, from 10:00-18:00 hrs., at Hall 1-3, Queen Sirikit National Convention Center.
