JAKARTA, Indonesia, Feb. 14, 2017 /PRNewswire/ -- Hi SEA returns to the Jakarta International Expo in Indonesia for its second edition during 22nd-24thMarch 2017 as the regional food companies expect robust growth.
In 2017, Indonesia's food and beverage industry is forecast to grow 8.5 percent year-on-year (y/y) to IDR 1,400 trillion (approx. USD $105.2 billion). Concurrently, direct investment is expected to reach around IDR 63 trillion (approx. USD $4.7 billion). Among others, Japanese and South Korean companies stand out as being particularly eager to actively engage in this industry Indonesia. Indeed considering the country's 255 million population and its recovering purchasing power, the food and beverage sector is an attractive option for investors.
On this note, Adhi Lukman, General Chairman of the Indonesian Food and Beverage Association (GAPMMI), said that Indonesia's F&B trade balance showed a USD $767 million deficit in the first 11 months of 2016, rising sharply from the USD $276 million deficit in full-year 2015. In fact, besides finished products, 90% of the ingredients used in this industry are still imported, thus providing an immense opportunity for international and local companies alike.
At the same time, Indonesian consumers are also changing their habits. In a global survey by Nielsen, it emerged that 76% of global consumers were willing to spend more for food products that promote health benefits. In Asia that percentage stood at 81%.
That is why a trade event like Hi SEA, the only trade exhibition dedicated to the health ingredients industry in the region, held at Jakarta International Expo during March 22-24, 2017, is key to the progress of the market.
Supported by renowned associations such as the Indonesian Pharmaceutical Association, Indonesian Food & Beverage Association -- GAPMMI, the Indonesian Functional Food and Nutraceutical Association and IUFoST, Hi SEA provides a trusted meeting point and a solid conference for all food professionals in the region to build on.
Alongside the show, a cutting edge, focused conference is held, tackling both the perspective of local ASEAN companies expanding their business worldwide and international companies willing to break into the south East Asian health food markets. Sign up here and come join the industry on March 22nd!