India: The Future Of The Food Industry
India is the new hotspot for sourcing food ingredients and Fi India is creating the driving change in…
India is the new hotspot for sourcing food ingredients and Fi India is creating the driving change in one of the world’s most successful economies.
India is the 2nd largest population in the world, has the 3rd largest economy and ranks 2nd in the world in terms of agricultural production. It is no wonder that India is fast becoming an essential player in the global food ingredients market. AC Nielsen has named India as a hotspot for food manufacturers, food producers and food ingredient professionals and the country is now becoming an integral part of the global food ingredient network.
Given this trend, India has become one of the most important destinations for food investment, with the food industry growing at an annual rate of 17 %. The bridge linking India to the rest of the world is quickly becoming stronger and Fi India is at the forefront of the action, providing a global portfolio extending from the iconic Fi India tradeshow to online platforms, magazine publications and high-level industry specific conferences.
In October 2013, India will play host to this fully dedicated food ingredients show and Fi India have worked intrinsically to gather hundreds of the leading food ingredient suppliers plus around 6,000 visitors and industry professionals. Included in this powerhouse line up are the likes of Cargill, BASF, Roquette, Matrix, Mafco and many more. This specialised food ingredients event focuses on innovation and consumer trends, providing a platform for key professionals from around the world to link to this exciting Indian market.
Mathias Baur, Portfolio Director, Food ingredients Global, provides his viewpoint “Following the recent approval of the sweetener stevia in India, Fi India offers great opportunities for exhibitors to use the Food ingredients platforms and take opportunities like this, to grow their business and become market leaders. This is just one example how Fi India helps our customers strengthen their business, in one of the most important markets in the world”.
In addition, the buying power of Fi India visitors has increased by around 20 % in previous years, as well as seniority now mainly being CEOs, directors and presidents. Along with the increased buying power and economic growth, a relaxation in import policies, growth of organised retailing, increased urbanisation and an increase in middle class, the lifestyles and food habits are changing across India. This is opening the doors for imported foods, health foods and innovative food ingredients from across the globe.
Fi India is aligned in the Food ingredients portfolio strategy to extend the Food ingredients brand into regions where they have opportunities to engage with new customers and also present new business growth and opportunities to their existing client base. With the key focus on customer insight, business development and innovation and trade in a region with one of the fastest growth rates in the world, Fi India is a cost-effective platform to source new ingredients, grow market share and the key stepping stone to entering the Indian food ingredient market.
Marketing Executive, UBM Live
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