Informa Markets Thailand brought together more than 1,000 entrepreneurs in the food ingredient and dietary supplement industries from over 40 countries for the “Fi Asia 2023” and “Vitafoods Asia 2023” events held at the Queen Sirikit National Convention Center from September 20 to 22.
Lantayona mentioned that they had started discussions with Thailand about various aspects, including their approach to micro, small, and medium enterprises . While 16 MSMEs from the Philippines were invited to participate in the event, only six were able to attend. The Philippines was exploring opportunities to benefit its food industry, either by becoming a supplier of certain raw materials or by expanding its network of suppliers and industry connections through collaboration with Thailand.
“This year’s Fi Asia was revamped to give a more modern sense, solidifying our position as the tastemaker, being a hub that gathered raw materials from every corner of the world. Thus, it proved Thailand’s potential to become a platform for raw material exports in the future,” Chitanuwat said in an interview with the Philippine press.The goal of the trade show was to transform Thailand into a food and nutrition powerhouse and a gathering place for future food experts.
In the Asia Pacific region, the dietary supplements market had surged to $187 billion and was projected to reach $229 billion by 2025, with a growth rate of 6 percent. Key markets included China, Japan, and India, while markets with high growth potential were Indonesia, Malaysia, and Singapore.