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Vitafoods India to cater exclusively to nutraceutical market post-pandemic
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Thursday, 16 February, 2023, 12 : 00 PM [IST]
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Our Bureau, Mumbai
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Vitafoods India will cater exclusively to the nutraceutical market that is increasingly growing in the country, especially after the pandemic. India’s leading B2B event organiser, Informa Markets in India, is all set to host the maiden edition of Vitafoods, a well-recognised global brand with a considerable presence in Europe and Asia, from February 16 to 17, 2023 at Pragati Maidan, New Delhi.
Geo-located for the Indian market, Vitafoods India will cater exclusively to the nutraceutical market that is increasingly growing in the country, especially after the pandemic. The two-day show is scheduled to be held at New Delhi.
Nutraceuticals that combine the words ‘nutrient’ -- a nutritional food component -- and ‘pharmaceutical’ -- a medical drug -- are witnessing a current CAGR of about 21%, further fueled by technology. The rich Indian heritage of herbal medicines and supplements along with the rising demands of dietary supplementation help act as a propellant for this industry. Besides, the Indian Government has been an active proponent of all things homegrown, and Ayurvedic and herbal supplements are vital to this sector. The industry has been further encouraged by policies such as allowing 100% Foreign Direct Investment (FDI) in the nutraceuticals market.
Globally, Vitafoods’ strengths and successes are borne of a single aim: to bring the nutraceuticals industry together. It does so by curating events and platforms where professionals can network, knowledge-share and do business in the European and Asian markets. Vitafoods India too has as its expressed purpose of forging a nutraceuticals community that’s as empowered as it is informed and will cater to clients across four key sectors of nutraceuticals - ingredient & raw material, finished product, contract manufacturing & private label and services & equipment.
There has been a keen interest within the domestic nutraceutical community for the launch of Vitafoods India. The maiden edition of Vitafoods India will witness participation from over 60 exhibitors who have footprints both domestically and across the globe. KSM-66 Ashwagandha is already confirmed as title partner and other key exhibitors like Bio-gen Extracts, Allianz Biosciences, Aker Biomarine, Biofern, Anthem Biosciences, Gangwal Chemicals, Botanic Healthcare, Brenntag Ingredients, Synthite Industries, Natural Remedies, Generex Pharmassist, Vantage Nutrition, and Yasham, among others, are poised to leverage the platform to showcase their products, generate business leads and connect with global suppliers and decision-makers. On the other hand, visitors can leverage the show as a one-stop destination to meet key business delegates related to this most sought-after sector in the new normal.
Speaking at the announcement of the launch of Vitafoods India, Yogesh Mudras, managing director, Informa Markets in India, said, “India has been one of the countries with the fastest-growing markets for nutraceuticals and dietary supplements. At the same time, with a share of just 2% with regards to the global market, and only a few companies associated with it, India has an immense opportunity in this sector of healthcare. Nutraceuticals banks on the principles of health maintenance, early intervention, and disease risk reduction, which has become even more significant post-pandemic. While India is home to the tried and tested Ayurvedic formulations and innovations that have a strong foothold in the global market, its 52 agro zones that nurture over 7,000 plants and herbs can be leveraged to further fuel nutraceutical innovations.
“Vitafoods India, with its enduring global legacy, hopes to inform, educate and collaborate within the burgeoning Indian market. The expo will be timely and relevant to the Indian market in the new normal and will no doubt propel the industry’s valuation of 100-billion-US$ by 2030,” he added.
Speaking on the maiden edition and potential of Vitafoods India, Kartikeya Baldwa, CEO, KSM-66 Ashwagandha stated, “India's nutraceuticals market has seen a rapid growth in recent years. There is now enough critical mass of players and companies, so a well-constructed forum for interactions can enable parabolic expansion. Vitafoods has successfully created these kinds of forums in other parts of the world and is debuting now in India. Conversations and exposure at Vitafoods India have the potential to spark strong innovations and partnerships. The KSM-66 Ashwagandha team is excited to be in the Vitafoods India inaugural show in February 2023.”
Vitafoods India will showcase feature areas like innovative product zone, a special global trends zone by Mintel, a parallel content-rich conference and visit by top global buyers from the nutraceutical sector. The show has been comprehensively assisted in its endeavours through key partnerships with leading nutraceutical associations like Expert Nutraceutical Advocacy Council (ENAC), Association of Herbal and Nutraceutical Manufacturers of India (AHNMI), Health Foods and Dietary Supplements Association (HADSA), Women in Nutraceuticals (WIN) and Plant Based Foods Industry Association (PBFIA).
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