Informa Markets Concludes 2nd Vitafoods India with 94% Visitor Growth

Informa Markets, India’s leading B2B exhibition organiser, concluded the highly successful 2nd edition of Vitafoods India at the Jio World Convention Center, Mumbai. The three-day dedicated event took place between 13th to 15th February 2024, designed to showcase the fast-transforming Indian nutraceutical market. Vitafoods India 2024 witnessed an impressive turnout, with 7200 attendees across three days, marking a remarkable 94% growth in visitors compared to the 2023 edition.

The esteemed expo was graced by distinguished dignitaries, including Chief Guest Hon. Shri. Aatram Dharamraobaba Bhagwantrao, Minister of Food and Drug, Government of Maharashtra ; Sanjaya Mariwala, President, AHNMI (Association of Herbal and Nutraceutical Manufacturers of India); Dr Nilesh Amritkar, President, AFSTI (Association of Food Scientists & Technologists); Dr. Vaibhav Kulkarni, Hon. Secretary, HADSA (Health Foods and Dietary Supplements Association); Mr. Umesh Kamble, Secretary General, CASMB (Chamber for Advancement of Small  Medium Businesses); Mr. Yogesh Mudras, Managing Director of Informa Markets in India; Mr. Julien Bonvallet, Group Brand Director at Informa Markets and Mr. Rahul Deshpande, Senior Group Director at Informa Markets in India, among other distinguished guests.

Recognizing the sector’s importance, Hon. Shri. Aatram Dharamraobaba Bhagwantrao, Minister of Food and Drug, Government of Maharashtra, said ” Vitafoods India 2024 is a significant event for the growing nutraceutical industry in India. This three-day extravaganza, hosted in Mumbai, reflects our government's commitment to fostering a business-friendly environment, evident in our dedication to ease of doing business. The internationality of Vitafoods India, connecting professionals from over 40 countries, underscores the global appeal of this industry. Strict compliance is vital, with the government implementing strong monitoring frameworks for nutraceutical integrity. Maharashtra offers optimal conditions for business expansion, aligning with our commitment to ease of doing business and fostering growth and innovation. Stakeholders should prioritize modern R&D along with leveraging the knowledge for herbs possessed by our tribal ancestors, for mutual benefit. Innovation drives industry growth and community upliftment. This expo and conference fosters dialogue and collaboration for a sustainable nutraceutical industry. Building lasting partnerships shapes the industry's future.”

Vitafoods is a globally renowned brand with significant footholds in both Europe and Asia. Specifically tailored to the Indian market. Geo-located to the India, Vitafoods India focuses solely on the burgeoning nutraceutical sector, which has seen remarkable growth in the country, particularly in the wake of the pandemic.

Speaking on the significance of the 2nd edition of Vitafoods India, Mr. Yogesh Mudras, Managing Director, Informa Markets in India, said, “We are extremely happy with the overwhelming response received at Vitafoods India, where we welcomed 7200 attendees over the course of three days. Vitafoods India stands as a crucial hub for collaboration, facilitating knowledge exchange, and showcasing cutting-edge innovation. In today's climate, where enhancing immune function and preventing illness are critical priorities, India's vibrant nutraceuticals ingredients market offers immense potential. From vitamins and minerals to botanicals and diverse plant- and animal-derived components, our country's agriculture sector provides abundant raw materials essential for nutraceuticals and functional foods. With a focus on personalised nutrition, functional ingredients, and sustainability, India's nutraceutical industry is poised for significant growth. By empowering companies to stay ahead in this booming sector, Vitafoods India plays a crucial role in shaping the future of the industry.”

Speaking on the occasion, Dr. Vaibhav Kulkarni, Hon. Secretary, HADSA (Health Foods and Dietary Supplements Association), said “The nutraceutical sector has seen significant growth, from 6% to 40%, evolving from a niche market to a mainstream consumer trend. During the COVID-19 pandemic, focus on improving immunity surged, driving demand for preventive health products. Although there has been a modest dip in post-COVID trends, the industry's momentum continues unabated. It is imperative for the sector to reaffirm the significance of preventive healthcare among consumers. Despite the temporary slowdown following the pandemic, industry leaders are united in their acknowledgment of the necessity for collective action to champion and elevate this sector. The ambition to reach the $100 billion milestone demands accelerated efforts and unified advocacy.

The Prime Minister's vision for the next 25 years emphasizes prosperity, offering immense opportunities for sectors like nutraceuticals.  Collaboration between industry stakeholders and regulators is essential to ensure smooth growth and remove obstacles hindering progress. Vitafoods India, as an industry enabler serves as catalysts for innovation and collaboration within the nutraceutical sector, propelling us towards a prosperous future. It is imperative for the industry to come together and pave the way for sustained growth of the industry" he further added.

Highlighting the importance of clinical studies, Mr. Nishant Chachra, Vice-President, KSM-66 Ashwagandha, said “Our 50 clinical studies, 32 of which are published, uphold the gold standard, employing double-blind randomized placebo-controlled trials across various health domains. Notably, we exclusively utilize roots to extract KSM-66, diverging from competitors who may incorporate aerial plant parts. Root components, historically favored in Ayurveda, offer superior benefits. Moreover, KSM exhibits exceptional organoleptic properties, being neutral in taste and highly soluble, facilitating its integration into more than 42 delivery formats. This versatility caters to evolving consumer preferences for innovative products such as gummies, chews, shots, functional food and beverages. Sustainability forms a cornerstone of our operations, underscored by our expansive 1500-acre farms in North India, providing us with complete control over sourcing. This commitment extends across our vertical integration in manufacturing, research and development, and quality control, exemplified by our attainment of 43 global certifications. With over 2500 global brands placing their trust in KSM-66, the sale of over 2.1 billion dosages in 2023 alone attests to its efficacy. Through partnerships with brands like Centrum, HealthKart and Fast&Up etc in India, we ensure that the valuable benefits of Ashwagandha are readily available and accessible to consumers seeking health and wellness solutions both online and offline.”

Speaking on the conclusion, Mr. Saif Mehkri, Founder & Director, Bio-gen said, ‘Particularly post-COVID, where there's a heightened awareness among consumers regarding health and wellness, the importance of healthy living and healthy aging underscores the need for addressing prevalent health issues such as heart disease, obesity, and diabetes. Our company's focus on combating inflammation and oxidative stress revolves around our latest products, including carotenoids like lutein, which undergo global clinical validation. We acknowledge the diverse demographics, with clinical studies conducted in India, Australia and United Kingdom catering to global markets. Additionally, ongoing research on pain management using natural ingredients like Palmitoylethanolamide highlights our commitment to holistic health solutions.

Reflecting on personal experiences and the significance of reducing stress levels, we emphasize the importance of Ayurveda and holistic approaches in maintaining overall well-being, along with mitigating oxidation in the body for promoting longevity and overall health."

Emphasizing on the growth of Nutraceutical Industry, Mr. Sanjaya Mariwala, President, AHNMI (Association of herbal and nutraceuticals manufacturers of India) said "In our pursuit of sustained growth, the government's initial actions are pivotal. However, it's evident that our journey toward establishing a formidable presence in the global nutraceutical arena requires concerted efforts and continuous initiatives. Through incentivizing manufacturing modernization, prioritizing accurate clinical trials, launching nationwide awareness campaigns, resolving regulatory conflicts, unifying industry alliances, and fostering collaborative endeavors, we pave the way for industry advancement. Vitafoods India heralds the anticipation of further discussions and collaborations, fortifying our collective efforts to propel the nutraceutical sector towards success."

Speaking on the occasion, Mr. Umesh Kamble, Secretary General, CASMB (Chamber for Advancement of Small Medium Businesses) said “The rapid growth of the healthcare industry, particularly in small and medium businesses, indicates an exciting opportunity for startups and MSMEs to make a significant impact. With India boasting numerous unidentified hubs ripe for exploration, these enterprises can play a crucial role in supplying health supplements to meet growing demand. Startups are the backbone of innovation and investment, essential for propelling the industry towards the ambitious $100 billion milestone. Vitafoods India serves as a vital platform for fostering collaboration and innovation, empowering businesses to capitalize on emerging opportunities and drive sectoral growth."

Insights & Recognition 

At the heart of Vitafoods India 2024 were two dynamic zones - The Global Trends Zone and The Innovation Zone. The Global Trends Zone served as a hub for cutting-edge nutraceutical products from global brands, spotlighting themes such as Gut health, Positive aging, Women’s health, and Innovative formats. The Innovation Zone provided a platform to witness 10 breakthrough innovations in the nutraceutical world. The prestigious accolade was awarded to the CurcuVail product, developed by K Patel Phyto Extractions Private Limited, while the first runner-up position was awarded to the BeepActive product from Samriddh Nutractive Pvt Ltd. Taking the second runner-up title was Magtein by Avlaan Pharmaceutical Private Limited, all exemplifying innovation and excellence within the nutraceutical sector.

Over 12 educational sessions, featuring 40+ expert speakers, provided invaluable insights into the rapidly evolving nutraceutical landscape. Notably, sessions on Gut Health and Women’s Nutrition captivated audiences, reflecting a growing interest in these crucial health topics. Vitafoods India 2024 also featured engaging sessions, including a Fireside Chat with celebrity speaker Luke Coutinho, Holistic Nutrition & Integrative Lifestyle Practitioner, and Avartan Bokil, Founder and Director of Food Strong. The discussion explored the latest innovations and trends in Sports Nutrition, emphasising new formulations and personalised supplements' impact on performance. Additionally, a Power Breakfast in collaboration with Women In Nutraceuticals (WIN) and a Plant-Based Panel Discussion with the Plant-Based Foods Industry Association (PBFIA) championed change and addressed the growing trend of plant-based nutrition.

Key players and Associations drive Nutraceutical Innovation

The event featured a wide array of domestic and international participants, including renowned names like KSM-66 Ashwagandha, Bio-gen Extracts, Brenntag, Omniactive Health Technologies, Roquette India Private Limited, Sami Sabinsa Group Ltd, Krishna Enzytech/Collagen Lifesciences, and more. Furthermore, Vitafoods India 2024 garnered significant support from the essential nutraceutical associations, including Shellac and Forest Products Export Promotion Council (SHEFEXIL), 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).

The Indian nutraceuticals market:

The Indian nutraceutical market is experiencing rapid growth driven by factors such as increasing health consciousness, rising disposable incomes, and a shift towards natural and preventive healthcare solutions. Accelerated by the COVID-19 pandemic, demand for immune-boosting products and dietary supplements has surged. India's rich biodiversity and traditional medicinal knowledge offer a unique advantage, fostering research and development opportunities. With cost-effective manufacturing capabilities and growing expertise in export-oriented businesses, India is poised to emerge as a significant player in the global nutraceutical market. Projected to maintain a robust annual growth rate, the Indian nutraceutical industry presents promising opportunities for domestic and international stakeholders, contributing to improved healthcare outcomes and sustainable economic growth. With the Indian dietary supplements market valued at $4 billion in 2020 and projected to reach USD 10 billion by 2026, reflecting a remarkable 22% year-on-year growth rate, Vitafoods India highlights the immense potential and opportunities within the industry.