Asia Pacific Remains One of the Fastest Growing Regions in Food Innovation
23 Aug 2016 --- Asia Pacific is a huge and increasingly influential market in the supply of food and beverage ingredients. In 2012 the region accounted for 35% of global value added food and drink ingredient supply (equivalent to almost 8.5 million tons out of a global total of 24.2 million tons).
Asia Pacific is also one of the fastest growing regions, with a forecast CAGR of 4% over 2012-2017, which means that by 2017, Asia will have increased its share of the global total to 38%.
Not surprisingly, Indonesia is expected to be one of the strongest ingredient markets in the region during this period. The US Department of Agriculture considers that several factors which are contributing to the growth of the Indonesian food processing industry are the introduction of new flavors and products with variant package sizes, a growing middle class, aggressive promotional activities, the growth of modern retail outlets, and growing health awareness.
The 21st edition of Food ingredients (Fi) Asia will take place from 21-23 September 2016 in Jakarta, Indonesia.
“This year’s edition of Fi Asia comes at a time when the Indonesian food and beverage market is one of the fastest growing in the world, which makes it a very exciting time for suppliers and buyers to attend the 2016 Jakarta-based event. With 25% annual growth in exhibitor numbers over the past four years, Fi Asia is the perfect place for large and small businesses to increase their networks in the ASEAN region and drive their business - now more than ever,” Olav Masseling, Brand Director at UBM EMEA told FoodIngredientsFirst.
Fi Asia is a unique and proven business platform that brings together leading food and beverage professionals from ASEAN and beyond. Over 15,000 visitors and an expected 650 exhibitors from 40 countries, makes Fi Asia 2016 the region's largest event exclusively for the food ingredients industry. Growing by 26% each edition, this continued strong growth in Fi Asia also reflects the robust growth of the F&B sector, not only in Indonesia, but also the ASEAN region. Furthermore, it demonstrates the value that Fi Asia presents both visitors and exhibitors.
Despite the recent economic slowdown, turnover in Indonesia's food and beverage industry stands at about IDR 1,200 trillion (approx. US$87.6 billion) in 2015, up from IDR 1.020 trillion (+17.6% year-on-year) in the preceding year, according to the Indonesian Food and Beverage Association (Gapmmi). Indonesia’s food manufacturing sector is still attracting foreign investors, with an investment value of US$11.9 billion in 2015, based on data from the Indonesia Investment Coordinating Board (BKPM). International investment accounted for 60% of all manufacturing commitments in Indonesia last year. These figures clearly demonstrate the strength of the Indonesia F&B sector, and that Indonesia is no longer seen as just a market for food exports, but more as a production base to many international companies. This increased local manufacturing will drive further demand for food ingredients. Attending Fi Asia 2016 will give international visitors the ideal opportunity to better understand this dynamic market and meet potential business partners.
Among the many highlights of Fi Asia 2016, is the extensive educational program where you will be inspired by leading speakers who can help you to discover innovative products and applications that can transform your product and process development, and hear the latest industry trends that will help you to grow your business.
by Elizabeth Kenward
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