Vitafoods Europe has been a fixture in the calendar of the nutraceutical and functional foods industry for the last 13 years. But according to a report from PriceWaterhouseCooper in 2009 Asia Pacific is the largest market for functional foods after the US, driven by an ageing population and growing awareness of health and wellness issues.
This news comes as no surprise to IIRX, the company behind Vitafoods, which has been mulling a move into Asia for some time. The decision to launch in 2011 was taken following extensive research among exhibitors and in consultation with the Vitafoods Steering Committee, made up of senior industry figures.
The first Vitafoods Asia show will take place in Hong Kong over three days, from 7 to 9 September 2011. Event director Chris Lee said that, given the high potential of the Asian market, “suppliers of nutraceutical ingredients, functional foods and drinks, pharmaceuticals products and nutricosmetics need to have a presence at the show if they are serious about developing their business in this potentially lucrative market”.
The organising team is expecting to attract around 150 exhibitors to Hong Kong in 2011, but companies will not have to make an either-or decision over Geneva or Hong Kong, because special deals will be offered to companies that exhibit at both.
No finished products
There are some other trade shows present in the Asia Pacific region that cover the nutraceutical and functional foods market, such as the Expo shows organised by New Hope Natural Media, but Lee said these mainly target finished products. While Vitafoods Europe does have a finished products forum, this forum will not exist in Hong Kong.
The Vitafoods team is considering other geographic expansions of the brand in the future, with South America a likely candidate.