Vitafoods India: Driving Growth in India’s High-Potential Nutraceuticals Market
New Delhi, February 2023: The maiden edition of Vitafoods India, by Informa Markets in India, India’s leading B2B events organisers, has commenced today, continuing till the end on 17th February 2023 at ITPO, Pragati Maidan, New Delhi. More than 60 exhibitors with over 150 brands from both domestic and global markets will be present at the event.
The inauguration of the well-considered expo was held in the presence of esteemed dignitaries, namely Chief Guest Padmashri Vaidya Rajeshji Kotecha, Secretary, Ministry of AYUSH, Government of India, Shri Praveen Mittal, Senior Director, FICCI (Federation of Indian Chamber of Commerce & Industry), Mr Sandeep Gupta, Chief Founder & Director – ENAC (Expert Nutraceutical Advocacy Council); Mr Andy Mather, Brand Director – Vitafoods, Informa Markets; Mr Yogesh Mudras, Managing Director Informa Markets in India; and Mr Rahul Deshpande, Sr. Group Director Informa Markets in India, amongst others.
Vitafoods is a well-recognised global brand with a considerable presence in Europe and Asia. Geo-located for the Indian market, Vitafoods India caters exclusively to the nutraceutical market that is increasingly growing in the country, especially after the pandemic. Moreover, India can create and supply a wide range of raw materials as well as develop over-the-counter finished products, including a large variety of supplements. The apparent shift in the Indian and international market from curative to preventative healthcare has already greatly increased demand, and it will continue to do so.
The event brings together key players in the nutraceutical industry, including KSM-66® Ashwagandha, 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 Speciality Ingredients.
Chief Guest Padmashri Vaidya Rajeshji Kotecha, Secretary of the Ministry of AYUSH, Government of India, said, “We wish to compliment Informa Markets in India for the launch of the maiden edition of Vitafoods India, a move that could be path-breaking within and outside India. Naturally blessed with a variety of natural plants and herbs, India is in a position of great advantage when it comes to nutraceuticals. We have already witnessed a transformation in the Indian consumer from a reactive to a preventive stance when it comes to health issues. What needs to be done now is to advocate with scientific examples the genuine medicinal and scientific value of nutraceuticals.
With Governmental support and advocacy, the AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) industry has grown 6 times in the past 7 years. While our domestic market is vibrant, we would like to see more exports in this industry. We believe the G20 and SCO chairship India currently holds will be ideal platforms for spreading the word about nutraceuticals. Measures such as these will no doubt help in creating the new Amrit Kaal in India by 2047.”
Vitafoods India aims to bring the nutraceutical industry together by providing a platform for professionals to network, knowledge-share, and conduct business in the Indian market. The event will cover four key sectors of the nutraceutical industry, including ingredients and raw materials, finished products, contract manufacturing and private label, and services and equipment. It is expected to be a one-stop destination for visitors to meet key business delegates, showcase products, generate business leads, and connect with global suppliers and decision-makers in the new normal.
At the launch of Vitafoods India, Yogesh Mudras, the Managing Director of Informa Markets in India, said, “Accounting for 2% of the global market and limited participation from companies, India has a huge opportunity in the nutraceuticals sector. The principles of health maintenance, early intervention, and disease risk reduction, emphasised by nutraceuticals, have become even more important in the aftermath of the pandemic. India’s rich heritage of Ayurvedic remedies and abundant plants and herbs grown in its 52 agro zones provide opportunities for further nutraceutical innovations.”
“Vitafoods India, with its well-established global reputation, aims to educate and collaborate within India’s growing market. The expo will be timely and relevant to India’s current state and is expected to contribute to the industry’s estimated 100 billion USD valuation by 2030,” he added.
Vitafoods India features innovative product zones, including a special Global Trends Zone by Mintel, with products bucketed under relevant themes such as ‘Brain Cognition’, ‘Emotional well-being’, ‘Innovative Format’ and ‘Women Centric Products’.
The show also has a parallel conference with rich content partnered by Expert Nutraceutical Advocacy Council (ENAC). Day 1 witnessed panel discussions and presentation sessions on pertinent subjects like ‘Consumer Trends, Innovations And Opportunities In The Indian Nutraceutical Space’, ‘Digitization – Enrich 2030 – Path towards sustainable Nutraceutical Market Development’, ‘Embedding Regulatory Into Business & Marketing Strategy’ and ‘Manufacturing Excellence – Sustain, Innovate, Accelerate, Sustainable Development of the Nutraceuticals Sector’. Day 2 will see a panel discussion on ‘Novel Plant-Based Foods – Maximising Taste While Preserving the Nutritional Quality’. A special closed-door session with top nutraceutical buyers from ten countries worldwide is also being hosted tomorrow.