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https://www.nationthailand.com/pr-news/thailand/general/40020723
Nutraceutical trade fair gets underway, aiming to give THB70-bn market a shot in the arm
WEDNESDAY, OCTOBER 05, 2022
Informa Markets Thailand introduces Vitafoods Asia, the latest trade show in Thailand that covers the entire supply chain of nutraceutical products, an industry worth around 70 billion baht in domestic market value alone.
The exhibition, which response to health food trends, comes amid confidence placed in Thailand’s potential as a one-stop medical hub.
Moreover, it supports the MICE industry, which is returning to pre-Covid levels after Thailand eased health restrictions and recently reopened to the world.
Euromonitor estimated that in 2021 the vitamin and nutraceutical market in Thailand was worth around 74 billion baht with a stable growth trend. Moreover, Thailand’s economic policies focus more on building an economy of High Value Added Products (HVA), resulting in economic, social, and environmental sustainability; rather than traditional manufacturing processes that focus on the number of products.
These factors offer Informa Markets an opportunity to expand the show, filling the industry’s gap that affects the lifestyle and health of people nowadays.
Rungphet Chitanuwat, Business Director-ASEAN, Informa Markets Thailand, says, “Informa Markets’ portfolio of health exhibitions in Thailand comprises ASEAN Beauty, Food Ingredients Asia, and CPHI Asia. All are regional events. With our continued and long experience, we decided to introduce Vitafoods Asia in 2022, which will complete our portfolio of health trade events. This event focuses on the nutraceutical industry, which is quite competitive in Thailand. We estimate that export production will soon become a key focus among Thai businesses. So, discovering new trends and innovations in manufacturing beyond what they see in Thailand is what they are doing to create competitive advantages at regional and global levels.”
Vitafoods is a brand that emphasizes driving the nutraceutical industry. It has successful records of organizing events and creating platforms; which help connect businesses and supporting agencies.
Besides, it enhances understanding of every aspect of the industry, resulting in trading, exchange of information, and ultimately expansions of the industry in many countries and regions.
Over the past years, Vitafoods events have received great responses, from Vitafoods Europe, Vitafoods India, Vitafoods Insights, Vitafoods Insights Europe Virtual Expo, and Vitafoods Insights Asia Virtual Expo, to Vitafoods Asia, which is happening as an on-ground event in Thailand.
The strategy for the first Vitafoods Asia in Thailand is a co-location with Fi Asia or Food Ingredients Asia, as they have many things in common, especially ingredients for food and beverage productions.
Recently, more ingredients with health benefits have been developed into functional drinks or foods. These ingredients can also be used in nutraceutical production. Introducing innovative ingredients, many producers also use them to manufacture food or nutraceutical food products, depending on how they are sold to consumers and what expectations consumers have.
Vitafoods Asia 2022 is a leading venue for nutraceutical and functional food and beverage, and dietary supplement industries in Asia, covering the entire supply chain and bringing together manufacturers, distributors of dietary supplement and nutraceutical products, innovations, and technologies.
The online platform of the event starts from 26 September to 10 October 2022, while the actual on-ground event takes place during 5-7 October 2022 at Queen Sirikit National Convention Center.
It offers opportunities for visitors and exhibitors to meet and talk online through online meetings or schedule their appointment in Bangkok even before joining the actual event in person.
With this available, they can build connections in advance and better their experiences when they meet in person while optimizing their time at the event.
As Vitafoods Asia is co-located with Fi Asia 2022 for the first time, the two trade shows will welcome more than 21,000 visitors and distributors in the nutraceutical industry.
The exhibitions feature over 600 nutraceuticals, and food and beverage industries, covering four components of the entire supply chain, including Ingredients & Raw, Finished Products, Contract Manufacturing & Private label, and Services & Equipment.
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