From April 12 to 15, FoodAsia2016 will showcase a range of innovative home-grown companies and their first-of-a-kind creations, as manufacturers look towards innovation, growth and internationalisation. The event is part of Food&HotelAsia (FHA), to be held in Singapore on the same dates.
The Asia Pacific region is currently enjoying an outstanding expansion, which is set to outpace Western Europe and North America with an estimated turnover of US$3.23 trillion in 2016. This performance is particularly appealing to foreign investors, triggering a stiffer competition amongst local and regional food and beverage players.
“There are pockets of opportunities in the region. It is thus imperative for Singapore companies to look beyond our market, innovate and transform their business models, in order to sustain future growth,” said Lee Yee Fung, group director for lifestyle business, International Enterprise Singapore. “With a strong ecosystem of food companies in place, the Singapore food and beverage industry is at a prime spot to ride this growth trajectory.”
Over 65,000 trade attendees from more than 90 countries are expected to be present, whilst 130 international buyers from 60 companies across 18 countries will be able to meet the Singapore exhibitors through scheduled business matching sessions.
“Innovative practices and technology as well as strategic alliances are important pillars for the Singapore F&B industry to create value, stay competitive in the global and local market, and contribute towards a diverse global food industry,” said Sunny Koh, deputy president and chairman of SMF Food & Beverages Industry Group.