For the first time this year, the two-day Vitafoods Asia Conference will run alongside nutraceutical exhibition Vitafoods Asia from September 3 to 4, 2014 at the AsiaWorld-Expo, Hong Kong.
Speakers from various countries and organizations will be presenting topics, including:
- Halal in nutraceuticals – market opportunities and business success,
- Dietary lipids – the growing role of Omega-3 and polyunsaturated fatty acids or PUFAs,
- Indigenous ingredients, and
- Â Regulatory harmonization in China, Hong Kong, and Taiwan.
Chris Lee, portfolio director, Vitafoods, tells Food News International more.
FNI: What is the inspiration behind the first Vitafoods Asia conference?
Lee: Vitafoods is a brand that is familiar to the nutraceutical ingredients and raw materials, dietary supplement, as well as functional food and drink industries around the world.
Vitafoods is all about creating a community for the industry by bringing both the scientists and the commercial teams together.
In this way, we provide a stimulating environment focusing on innovation and for learning.
As we already run a successful conference, which runs alongside Vitafoods Europe exhibition, it is natural for us to launch a comparable educational forum in Asia in a similar format.
Furthermore, there is no dedicated conference for the nutraceutical, functional food and drink sector in Asia at this time.
The conference serves to provide a forum for learning in line with Vitafoods global strategy, and to further build the Vitafoods Asia reputation.
FNI: How is this compared to conferences held in the industry?
Lee: Vitafoods Asia and the conference that runs alongside the show is the only Pan-Asian event dedicated exclusively to the nutraceutical industry.
When compared to the more mature Vitafoods Europe, our approach and set-up is largely the same – both events aim to offer exclusive insights into where the industry is headed and where opportunities lie, featuring the latest hot topics and trends for respective markets.
Naturally, the conference here is tailored more to the Asian nutraceuticals market, which makes it suited for Asia-based companies looking to expand their business further within the region, or for international food manufacturers looking to enter the Asian market.
FNI: What were the common concerns/traits of the discussion topics in Vitafoods Asia conference?
Lee: The full conference program comprises a variety of topics, including weight management, active-ageing, preventative health trends, halal in nutraceuticals, probiotics, functional beverages, dietary lipids, and regulatory harmonization amongst others.
Each topic addresses a popular area of concern for different segments of the nutraceutical industry. In the various sessions, the speakers will share in-depth insights to the factors that drive each of those trends.
FNI: What are main take-away a delegate can bring back to his/her manufacturing plant after having attended the conference?
Lee: With any good conference, delegates typically return with different perspectives, fresh ideas, and new industry connections. Likewise, it is our key objective to help attendees do business, sign deals, as well as provide a place for learning.
Through the Vitafoods Asia Conference, we look forward to inspiring formulators to come up with groundbreaking innovations, offering marketers comprehensive consumer insights and health trends, as well as matchmaking manufacturers to suitable suppliers.
Our team has worked hard to ensure that the conference will facilitate all that and more for the delegates.
FNI: From the topics that are lined up for the conference, which ones would be the game changer for F&B manufacturers in the next five years?
Lee: Halal in nutraceuticals is one of the areas where we anticipate further growth in the years to come.
There are now more than 1.6 billion Muslims in the world, which makes up around 24% of the global population.
Of this, Asia-Pacific has the highest number of Muslims – more than one billion – comprising more than 60% of that population, according to a Spring Singapore guide in 2011.
The demand for halal products and ingredients is expected to continue to grow, and this will open up enormous potential for halal nutraceuticals.
Another area where returns are high is probiotics, with the sector in Asia Pacific predicted to hit US$523 million by 2018 (2012 Frost & Sullivan report) on the back of growing awareness of the benefits of consuming probiotics, and advances in technology which see scientists developing new strains that can withstand both high and low temperatures.
Last but not least, according to Euromonitor, the functional food and drink sector in Asia Pacific has experienced steady growth in recent years, with compound annual growth rate of 11.2% from 2008-2013.
However, there is still a large percentage of the population in Asia that are not currently consuming functional foods and drinks, which means there is untapped potential for market-savvy manufacturers.
As consumers seek products that more effectively cater to their age, gender health goals, and lifestyle, the demand for food and drinks with specific health benefits will continue to escalate as consumers seek more personalized nutrition solutions.
FNI: How can F&B manufacturers prepare themselves for these changes?
Lee: To achieve business success, it is essential for manufacturers to know the general business landscape; the regulations, restrictions, and trade opportunities, in order to stay ahead in the business.
F&B manufacturers also need to understand consumer trends and the implications of key health issues that consumers face.
The ability to apply this powerful information will help manufacturers make strategic decisions for their businesses.
