• The Vitafoods Europe fair, which took place in Geneva, Switzerland, on May 15-17, congregated the key players in the natural and functional ingredients sector.

Functional foods or nutraceuticals are a trend internationally and Chile has emerged as a privileged destination for investments in the industry.

With 20,000 visitors from 115 countries and over 1,000 exhibitors, Vitafoods Europe is the sector’s most important trade fair. The principal innovations in healthy and functional foods and natural supplements are presented there.

InvestChile’s executive for the promotion of investment in the food industry, Camila Comas, and the Agency’s investment attaché for Europe, Fernando Ortiz, attended the fair, which took place in Geneva, Switzerland between May 15 and 17, holding a series of meetings with company representatives. At these meetings, they discussed the requirements of both companies that already have operations in Chile and others that are looking to expand their operations to Chile and the rest of the region.

“Food companies see Chile not only as a supplier of high-quality raw materials but also as a transformation platform, able to offer efficient access to the world’s main markets. That is the main attribute that our clients cite for continuing to choose Chile,” says Camila Comas.

This year, five local companies exhibited at the fair, showcasing their experience and providing an overview of the country’s range of exports and locally developed technologies: Golden Omega (standardized omega-3 concentrates); Benexia (chia and chia fractions with high value added); Atacama Bionatural (microalgal astaxanthin); and Vilkún and Nativ for Life (ingredients and products from endemic berries such as the maqui, strawberry myrtle, cranberry and Magellan barberry).

International exhibitors with operations in Chile included France’s Naturex (ex-Chilebotanics), a leader in the production of quillaia extracts in Linares in southern Chile, and DianaFood, a French supplier of fruit and vegetable-based ingredients for the processed foods industry. Both companies have highlighted the advantages of Chile as a production platform, due not only to its economic stability but also the quality of its raw materials, the high standard of local professionals and ease of exporting in terms of both logistics and tariffs.

The market for nutraceutical products is forecast to be worth more than US$500 billion a year by 2025 while that for nutraceutical ingredients will reach some US$50 billion, growing at an annual rate of 7.5%. Within this group, the compounds that will experience the fastest growth will be phytochemicals and botanical extracts of vegetable origin, used mainly in supplements in powder formats.