"Vitafoods Asia 2024," Asia's leading nutraceutical event, is set to bring new excitement to the nutraceutical industry, which is expanding rapidly worldwide thanks to the healthcare trend. Informa Markets (Thailand), the organiser 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 2024 at Hall 1-3, Queen Sirikit National Convention Centre, Bangkok, Thailand, is expected to support the rapidly growing Thai nutraceutical market, which has strong potential to reach a value of 239 billion baht 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 the Asian nutraceutical market is expanding significantly. Thailand is a major market, valued at 190 million baht in 2022 and forecasted to expand to 239 billion baht by 2026, as reported by Euromonitor International. This strong trend is driven by continuous launches of innovative products and the strong momentum of health trends. 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 the diverse needs and interests of industry professionals and health-conscious consumers. Euromonitor reported that more than half of Southeast Asian consumers believe they will have better health in the next five years and that climate change will increasingly impact 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 at growing the network of people in the nutraceutical industry. The event will serve as a platform to promote learning and long-term cooperation among industry professionals. It also 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 product and solution will be organised into different zones, including ingredients and raw materials, contract manufacturing and private labels, branded finished products, food supplements, vitamins, natural ingredients, herbal extracts, nutritional products, packaging, and related equipment.
Also, part of the event is the innovation zone featuring business know-how seminars such as trends 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 updates on prebiotics, probiotics, postbiotics, collagen peptides, ashwagandha, mushroom extracts, and more. 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 interesting products from the government sector and leading universities in the Academic to Commercial Zone, Lift Elements activities, the Innovation Health Hub showcasing new trends, and the Sustainability Square. Two talk stages are set to share experiences and insights from industry professionals.
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 businesses to grow in the international market. It also encourages businesses, the general public, and students to participate in the Vitafoods Asia Nutraceutical Awards 2024, held under the theme “Local Ingredients to Global Nutraceuticals.” Winners will receive quality certification and the opportunity to further develop and commercialise their products, which will also be showcased at Vitafoods Asia 2024.
The event's target audience includes producers, distributors, advisors, retailers, researchers, scientists, academics, importers, wholesalers, and trade associations related to nutraceuticals, foods, supplements, medicine, health foods, drinks, and 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 become the nutraceutical manufacturing hub and market leader in Asia,” said Ms Rungphech.
Dr Kittiwut Kasemwong, Leader of the Nano Agricultural Chemistry and Processing Research Team at the National Science and Technology Development Agency (NSTDA), noted that NSTDA focuses on adding value and upgrading Thailand’s food and health-related product markets with an emphasis on natural ingredients. The agency has promoted the use of herbal extracts and microbes to develop health-promoting products, which also have the potential to reduce production costs and dependence on imported products and technology. At the same time, local operators’ capabilities are being promoted. All these efforts are part of NSTDA’s strategy to drive industry growth.
Dr Natthapasut Phattirasinsiri, Director of the Biotech Industry Club at the Federation of Thai Industries (FTI), said that Thailand has an advantage in medical and health technology, especially biomedical science. The country’s large biodiversity contributes to national competitiveness and is a key factor promoting research on health and medical products, functional foods, herbs, biopharmaceuticals, and active pharmaceutical ingredients (APIs). This supports the development of Thailand’s medical and health products, helping reduce imports. More importantly, this will support Thailand's development as a knowledge economy with strong income generation potential.
Mr Nakan Tawichawat, Director of the Dietary Supplement Industry Club at FTI, said Thailand’s food supplements and herbs have 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 sectors.
Vitafoods Asia 2024 will open new opportunities for businesses and drive growth in 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 Centre.
For more information and registration, visit www.vitafoodsasia.com.
