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Singapore F&B Companies Target Expansion in Asia through FoodAsia2014

April 4, 2014 Conferences No Comments Email Email

Singapore’s food and beverage (F&B) industry is set to tap into growth opportunities in Asia, with the Singapore Pavilion at FoodAsia2014 seeing its strongest participation since its inception.

FoodAsia is one of six specialty shows within Food&HotelAsia2014 (FHA), Asia’s largest and most comprehensive food and hospitality industry tradeshow, slated to take place next week from 8-11 April 2014.

Featuring a record 75 Singapore F&B companies, the Singapore Pavilion at FoodAsia2014 has seen a 17 per cent increase in participation compared to the previous edition in 2012. Out of these, a third consists of first-time exhibitors bringing innovative, new products to Asian markets, such as XO Kaya and halal-certified ice cream.Top: Chye Choon Foods one of 75 Singapore Companies at the Singapore Pavilion at FoodAsia2014 introduces new star product - Basmati Rice Spaghetti; Down: Jumain Sataysfaction will be showcasing a wide array of award winning Satay at FoodAsia2014

Said Mr Lee Yee Fung, Group Director for Lifestyle Business at International Enterprise (IE) Singapore, “Consumerism in Asia is on the rise, driven by large domestic markets and a growing middle income group. Singapore’s F&B industry is particularly well-placed to tap into this trend, as more Asian consumers seek quality food, innovative products and healthier choices.”

Within ASEAN itself, there are over 615 million consumers, with a combined consumer expenditure estimated to exceed US$1.5 trillion in 2015[1]. Singapore’s F&B exports to the Asia-Pacific region are also on the rise, growing at a compound annual rate (CAGR) of 7.8% over the past five years to reach S$7.1 billion in 2013.

Key growth markets in Asia that Singapore companies are focusing on are China and Indonesia. China is the second largest market for Singapore after Malaysia, with F&B exports reaching some S$983.2 million in 2013. Indonesia is one of the fastest-growing, charting 14.1% annual growth rate over the past five years.

This growth is reflected in the strong onsite performance that Singapore companies are expecting at the upcoming FHA. In 2012, F&B companies at FoodAsia’s Singapore Pavilion confirmed S$1.79 million in sales onsite, with over S$40 million in sales under negotiation.

Said Mr Sunny Koh, Chairman of the Membership & Industry Groups Function Committee at Singapore Manufacturing Federation, “To leverage on the growth potential of the Asian consumer markets, Singapore companies need to build strong networks of distribution channels. At the Singapore Pavilion, our Buyers Programme offers companies an opportunity to network with the regional and global buyers at FHA2014. This complements other initiatives by SMF such as our ‘Working In Partnership’ programme, which helps local food manufacturers enjoy economies of scale when participating in regional promotional activities.”

This year, FHA expects to attract more than 45,000 international trade visitors from more than 90 countries/regions. In collaboration with IE Singapore, SMF will be inviting 139 buyers from 75 companies from across 24 countries to the Singapore Pavilion.

New products at the Singapore Pavilion this year include uniquely local products such as Chye Choon Foods’s Singaporean-Peranakan flavoured rice vermicelli, healthier options such as as Kong Guan Dumplings’ whole grain pau and Unifood International’s non-GMO black soy milk power, as well as easy-to-prepare products such as Asli Halal satay by Jumain Sataysfaction.

“Jumain Sataysfaction has been participating in FHA since 2006. As this is one of the most recognised trade shows in the food industry, it provides a good platform for our company to build up our branding and increase awareness of our products among both local and international visitors. Participating at every FHA helps us to build new partnerships and to foster greater relationships with our current clients,” said Ms. Samsiah Suliman, Managing Director, Jumain Sataysfaction.

Mr. Stephen Tan, Chief Executive of Singapore Exhibition Services, organiser of FHA says, “We are heartened to witness the biggest Singapore pavilion with such strong participation from local companies at FHA. Being the premiere trade event for the food and hospitality industries in Asia, we want to create a platform where local food and hospitality businesses can reach out to, and benefit from the global market place. The opportunity for Singapore companies to meet and network with potential business partners and international buyers at the show is tremendous.”

The 2014 edition of Food&HotelAsia (FHA), together with Wine&SpiritsAsia will occupy 102,000 square metres of exhibition space across all 10 exhibition halls and Max Atria at Singapore Expo. Visitors can look forward to offerings spanning across all aspects of the food and beverage (F&B) and hotel industry such as food products, bar and kitchen equipment and supplies, food processing equipment, hotel amenities, table ware and hospitality technology, among many others.

Jointly issued by Food&HotelAsia2014, IE Singapore and the Singapore Manufacturing Federation.

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