Photo above: Herbalife Extravaganza held in Bangkok last year.
SINGAPORE - Singapore largest private sector event on health products is to be held at the Singapore EXPO from May 18 to 20, in an affirmation of the health industry's growing focus on Asia as a key market.
Over 23,000 Herbalife independent distributors from 23 countries across the globe will be present at the event.
Herbalife is a global nutrition company, which manufactures and distributes products such as protein shakes and snacks, vitamins and nutritional supplements, sports, energy and fitness drinks, skin and hair care products.
According to the company, approximately 80 per cent of the company's revenues are generated outside of North America.
Asia-Pacific represents about 27 per cent of global revenues for Herbalife today, with sales of US$938.6 million in 2011.
"In the first quarter of 2012, Asia-Pacific was the fastest growing region, with a volume growth of 38 per cent - outpacing both North America and EMEA (Europe, Middle East and Africa) sales," said William M. Rahn, managing director of Herbalife Asia Pacific.
He added that due to economic developments and increasing urbanisation, there's been significant lifestyle and dietary changes in the region.
Thus, there is a strong demand for affordable nutrition supplements that help with the weight management and the fitness needs of Asian consumers, he said.
The event provides an opportunity for independent distributors to receive the latest product training, learn about business opportunities, meet people from different markets and cultures, and be part of a sharing platform of best practices, Mr Rahn said.
The consumer health industry, which includes dietary supplements, vitamins, minerals, herbal and non-herbal products along with functional foods reached an estimated US$181 billion in global sales in 2010.
According to a report by Euromonitor, Asia Pacific accounted for one third of consumer health retail sales in 2011, with Vietnam, Pakistan, India, Thailand and Indonesia seeing the fastest growth.
The event also marks a achievement for Singapore's meetings, incentives, conventions and exhibitions industry (MICE).
"As the fifth Herbalife event since 2005 and Singapore's largest corporate meeting to date with more than 20,000 participants expected, it is also testimony to Singapore's calibre and appeal as a leading MICE destination within the region," said Jeannie Lim, Executive Director, Conventions & Meetings and Exhibitions & Conferences, Singapore Tourism Board.