Ms. Rungphech Chitanuwat, Regional Portfolio Director - ASEAN, Informa Markets Thailand, the organiser of "Vitafoods Asia 2023," Asia's No.1 event on dietary supplements and ingredients, said that Thailand's dietary supplement industry sees strongly positive trend. The industry has seen the continuous growth since COVID-19 pandemic. Such trend is driven by increasing consumers' demand for dietary supplements to maintain health and boost immunity, as well as to serve the rapidly growing numbers of aged population. Some statistics showed that Thailand's dietary supplements and vitamins market has expanded by 149.3% from 2019 and the average spending on such products is 1,000 baht per person per month.
Backed by this promising trend, Vitafoods Asia 2023, held from 20-22 September 2023, will be an exhibition that attracts over 8,000 visitors worldwide and gathers the latest ingredients, dietary supplements, OEM manufacturers, and related services from over 460 exhibitors.
One of the event highlights is the Vitafoods Asia Nutraceutical Awards which is held by Informa Markets and TISTR's Expert Centre of Innovative Herbal Products. Both parties aim to use this contest to be a launchpad for new innovations focusing on local ingredients to drive Thailand dietary supplement industry forward.
"The award is open for any individuals having an idea of products and ingredients development. It is our intention to use this platform as a soft power that supports Thai businesses to climb up the value chain. We want to inspire and encourage them to implement and add value to local ingredients, especially agricultural products like rice which provides nutrition properties for anti-aging," said Rungphech.
Ms. Sirinan Thubthimthed, Director of Expert Centre of Innovative Herbal Products - Thailand Institute of Scientific and Technological Research (TISTR), said the contest was aimed at encouraging local business owners to create innovations using local resources. Each province has rich sources of raw materials and wisdom that can be further developed.
"There is plenty of room for Thailand's functional foods and dietary supplements market to grow. Anyone with interesting ideas is invited to participate in this contest and join us to boost the industry growth," said Sirinan.
The contest is open for anyone with no specific requirements regarding, age, gender, or education background. Interested persons can submit their prototype or just product concept of dietary supplements, functional foods, and all kinds of extracts into this contest. To participate in the contest, interested persons are required to apply at https://vitafoodsasianutraawards.com/login from now until 18.00 hrs. of 15 August 2023. The chosen ingredients/products will stand a chance to win a cash prize with a total value of 100,000 baht. Moreover, the winner and candidates will receive a certificate to verify the quality of the ingredient/product for further development and commercialization, along with an opportunity to showcase the product/ingredient at the Vitafoods Asia 2023 event.
Vitafoods Asia 2023 will be held from 20-22 September 2023 at Hall 5-7, LG Floor, Queen Sirikit National Convention Center. For more information, please contact 02-0360500 ext 274 or email [email protected]
Source: Make A Wealth Consulting