Vitafoods to Offer New Insights on Nutraceutical Market
By 2008 the entire functional foods market alone was worth over an estimated US$80 billion, with the US holding a majority share in the nutraceuticals market (35%) followed by Japan (25%).
23/04/09 It’s a fact. Consumers are more interested than ever before in the health benefits of foods. Not just that, they have taken their intrigue that one step further and have begun to look beyond the basic nutritional benefits of food to the disease prevention and health enhancing compounds contained in many foods. This combined with a more widespread understanding of how diet affects health and an ageing population have created a market for functional foods and natural health products like never before.
For example, by 2008 the entire functional foods market alone was worth over an estimated US$80 billion, with the US holding a majority share in the nutraceuticals market (35%) followed by Japan (25%). Included in this is the ever-growing European market (currently estimated at US$8 billion), which in recent years has witnessed something of a revolution.
However, not everyone is taking their health and wellbeing as seriously as they should be. According to reports, the world is being gripped by an intense obesity crisis that has been described as the next deadly global pandemic. Projected to be a bigger threat to life than AIDS and malaria combined, obesity is quickly becoming the world's most severe health-care crisis. As waistlines grow alarmingly, so do concerns over the impact an unhealthy population could have on everything from medicine to the economy. But it’s not an irreversible situation. Yes, the onus is on the individual to take reasonable control of their diet but a commitment by the food industry to produce healthier food is also essential. And what better way to go about sourcing ideas and inspiration on how to give products that health kick, than by visiting Vitafoods International 2009.
Taking place on 5 – 7 May 2009 at GENEVA PALEXPO, Switzerland, Vitafoods International and Finished Products Expo are the leading exhibitions of their kind in the world. Vitafoods International uniquely combines raw ingredients and materials from nutraceuticals, cosmeceuticals, functional foods and functional drinks into an unrivalled market-leading event for all those involved in the industry whilst Finished Products Expo is Europe’s leading dedicated exhibition for the dietary supplement, functional foods and functional drinks industries.
The growth of the functional food and drink industry over recent years is reflected in the changing nature of the event. In the last four years alone, the overall size of the show has increased by more than 50 per cent and this is predicted to grow even further as the consumer health dilemma moves further up companies’ boardroom agenda across the globe.
And Vitafoods International truly is a global event. The 2008 event welcomed exhibitors in their droves from countries as far flung as Japan, Mexico, New Zealand and India and visitors from over 81 countries worldwide. And this year, a more eclectic mix of nationalities is expected than ever before as the organisers anticipate visitor numbers in their thousands.
The international element of the exhibition is certainly one of the secrets to its success and, that is why, a number of international pavilions have been set-up for 2009 to ensure visitors can locate products and suppliers from different areas of the world. Joining the established pavilions from the USA, China, New Zealand will be SIPPO (Swiss Import Promotion Programme), AWEX, Bord Bia – The Irish Food Board, France – Bretagne, WUSATA (Western US Agricultural Trade Association) and Korea.
As one of last year’s exhibitors, Mike Dewey, the Marketing Manager at Algaecal put it, “Vitafoods International is a quality show. This is our third year exhibiting and we are once again impressed with the interesting cultural and international mix of exhibitors and visitors alike. It is definitely worth the investment.”
As Mike points out, exhibiting at events such as Vitafoods International can certainly prove a sound business decision. The international nature of the show opens up a previously tough market to penetrate, the sheer volume of exhibitors and visitors enables more contact with potential business partners than would usually be possible in a whole year whilst the direct nature of the exhibition facilitates that all-important face-to-face contact and expert networking opportunities. And at this year’s event, there will be more opportunities to make the most of these benefits than ever before.
The previously successful free-to-attend Supplier Seminar Theatre will once again offer visitors the opportunity to hear from key industry figures who will take to the stage to inform the audience about new product launches, innovations and revolutionary research. In 2008, the theatre attracted over 800 attendees across 29 sessions.
The New Products Zone will once again act as a unique product sourcing facility for visitors. This service allows exhibitors to showcase the most innovative and cutting-edge developments in the industry and act as a route-planner for the overall visit. In 2008 84 per cent of visitors indicated they attended the exhibition on a ‘product-sourcing’ mission. The Vitafoods Discussion Forum on the third day will provide an opportunity for exhibitors, visitors and delegates to question a panel of experts on the latest and most groundbreaking developments in the industry and see how they will affect business. Finally, the Service Pavilion, which was set up to enable visitors to easily find and target service and equipment suppliers for the nutraceutical industry, will also be back for 2009.
Visitors to this year’s event will be wowed by VitaTrend, a joint initiative between Innova Market Insights and Vitafoods International. Central trends on nutraceuticals and functional foods will be brought together in several presentations indicating where we are heading in the health and wellness world.
Innova Market Insights analysts will display four major presentations on current themes and trends driving new nutrition development today. Presentations include key insights into how current demographic challenges should be addressed and which ingredients should be marketed to each specific segment of the population. A further presentation will focus on novel methods to tackle the spiraling obesity crisis, including an examination of the hottest key trends driving the weight management category today.
Five further presentations will provide additional insights and key health and wellness themes. In order to provide added value to the pavilion, the themes will be supported by a collection of the most innovative functional foods and nutraceuticals in the market today.
