Market reports across the board agree that the global nutraceutical market is set for major growth in the next few years. And in Asia, trends in nutraceuticals, dietary supplements and functional food and drinks also show positive upward movement, providing plenty of opportunities for western and local manufacturers, suppliers and distributors.
Transparency Market Research forecasts that Asia Pacific, including Japan, will have the second largest market share by 2017.
“There are many factors driving the market, not least of all the Asian consumer, who has an increasing awareness of the health benefits of food and disease prevention and, like the rest of the world, concerns about ageing and obesity,” said Vitafoods portfolio director Chris Lee. This, together with increased disposable income, an increasingly urban population with its inherent demand for convenience foods, and need for functional food, sets the scene for phenomenal market opportunities for western businesses keen to get their stake in the market.
“Some countries already have a strong nutraceutical and functional food and drinks sector, like China, Japan and Korea, while others in the region, like Singapore and Malaysia, are slowly emerging. Our event provides an ideal platform to reach out to this exciting market.”
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