Fi Asia 2018 took place at the beginning of this month in Jakarta (Indonesia). According to the organizers, the event keeps on breaking records not only of attendance but also of exhibitors. The health food market continues to grow in Indonesia at an accelerated pace motivated by the growth of the standard of living and the awareness of the population of the importance of prevention rather than cure.
Monteloeder’s workshop about MetabolAid and digital technologies took place last week during Vitafoods Asia.
Monteloeder has organized a workshop about digital technology during Vitafoods Asia 2018 in Singapore on September 11th.
India is a vast territory located in the south of Asia. It is the second most populated country in the world with a population estimated 1.2 billion inhabitants. It is a federal republic and consists of 29 states and 7 union territories. The economy is growing quite fast making India the sixth largest economy in the world.
Vitafoods Europe was held two weeks ago in Geneva, specifically in Palexpo. Although the results of the fairs of ingredients of the nutraceutical industry are always seen in the medium and long term, we can consider this trade show as very positive for Monteloeder.
We want to take the opportunity to congratulate our Japanese customer Medicube for his Silver Quality Award recently got in the 54th edition of World Selection 2018 of Diet and Health Products.
Located in South East Asia, the Republic of Singapore is an island country located south of Malaysia, with a population of 5.6 million people. In 1819 Sir Stamford Raffles founded Singapore as a trading hub of the British East India Company. It became a sovereign nation in 1965.
Located in South East Asia, Vietnam’s neighbor countries are China, in the north, and Laos and Cambodia, in the west. It’s population is around 93 million inhabitants. Around 85% of the population is less than 55 years old, so it is considered a quite young compared to most of the western countries.
Talking about the economy, in the last three years the growth has been more than 6% annually and it is expected to continue at this pace until 2019. Despite uncertainties in the global environment, Vietnam’s economy remains strong, mainly because of domestic demand and export oriented manufacturing.
In 1993, over half of the population lived on less than $1.90-a-day. Today, the rate of such extreme poverty has fallen to 3 percent. The proportion of the population living below the national poverty line (GSO-WB Poverty line) reached 13.5 percent in 2014—down from close to 60 percent in 1993. More than 40 million people escaped poverty over the course of two decades. The Vietnamese population today is more educated and healthier than twenty years ago—and these advances are enjoyed across society. Learning outcomes are high, including in primary school. Infant and under-five mortality rates have been significantly reduced in the last twenty years. Stunting also significantly decreased, from 61 percent in 1993 to 23 percent in 2012. Life expectancy at birth is now 76 years, an improvement from 71 years in 1993.(1)
The food supplements industry in Vietnam is growing due to improvement in living standards. The population is now more concern about their health.
International manufacturers continue to dominate the market. Foreign brands tend to be positioned in the premium segment to attract mid-high end consumers, while local brands generally concentrate on the mass market. In addition, foreign players are also more active in non-herbal /traditional products, while local players are more prominent in herbal/traditional dietary supplements. In 2014 around 40% of the market corresponded to imported products. The most popular official retail channels are direct selling and chemists, pharmacies, healthcare & beauty care retail shops and foreign product specialty stores. The main areas of health concern are eye health, digestive health, heart health, mental health, women’s health and children’s health.(2)
Monteloeder has a regional office in Malaysia to be closer to the customers of this area, like Vietnam. We believe that being close to the customers we can understand better their needs and therefore serve them better.
Vice President, Sales
(1) World Bank
(2) Australian Trade Commision