Vitafoods targets $4bn South American functional foods market with new event
With the current functional food market in region estimated to be worth about US$4bn, according to Euromonitor, the new exhibition and conference is answering calls by suppliers for events in South America, event director Chris Lee told NutraIngredients-USA.
The organizing team is expecting to attract around 75 “niche and focused” exhibitors to São Paulo for the March 2012 expo and conference, with an expected split between multinational and local companies of 80-20, said Lee.
Vitafoods Europe has been a fixture in the calendar of the nutraceutical and functional foods industry for the last 14 years. IIRX, the company behind Vitafoods, expanded into Asia this year with the inaugural Vitafoods Asia show.
“As with Asia, we’re providing the types of people that exhibitors want to meet, like the manufacturers and influencers,” said Lee. “Other current exhibitions in that region are not doing that.”
Suppliers who have already signed up include BASF, Fortitech, Bio Serae Laboratoires, Golden Omega, Croda, and many others, said the organizers.
A 2006 report by AC Neilsen identified Latin America (Central and South America) as a hot zone for future growth in healthy categories. South America does have significant differences between national markets, and Lee admits that the region is “not as unified as we’d like”.
There are signs of movement there, however. The first Latin American supplement association was announced earlier this year involving ten supplement companies marketing products in Latin America.
The Latin American Responsible Nutrition Alliance (ALANUR) is being coordinated by the International Alliance of Dietary/Food Supplement Associations (IADSA) with the aim of creating an optimal regulatory and policy environment for the growing supplement market.
The upcoming event in São Paulo also boasts a conference featuring both marketing and scientific sessions. Speakers from institutions including Anvisa (National Agency of Sanitary Defense), Bunge, Danone, Embrapa, Pepsico, Unilever, Nestlé Institute Health Science, State University of Campinas (Unicamp) and the University of São Paulo (USP) will present to the anticipated 200 delegates, said Lee
"We're excited to be bringing together national, regional and global experts to discuss the issues and growth potential offered by the thriving South American market," he said.
"Many new products will be on show for the first time in Brazil, making the exhibition a must-attend for all professionals in the functional food and nutraceutical industries."