The Malaysian International Food and Beverage Trade Fair (MIFB) 2017 is expected to generate higher business deals of US$400 million (RM1.78 billion), an increase of 20% than US$360 million registered during last year’s exhibition.

Sphere Exhibits Pte Ltd MD Elaine Chia foresees higher business activities this year, spurred by a bigger exhibition space, as well as increasing global demand for healthy, natural and halal products.

Chia said the food and beverage (F&B) industry continues to grow, innovate and change in line with the changing demands of the consumer and the growth of the population. “Every year we introduce and focus on current trends that are new, exciting or that challenge consumers’ perception towards food.

“Last year, we focussed on food science and technology and this year, we want to give importance to the ready-to-eat packages, food ingredients, health and organic, and halal foods,” she told reporters after the launch and business networking lunch of the 18th MIFB yesterday.

“Consumer F&B trends will continue to evolve, develop and grow as the society gets sophisticated. So, the industry needs more process innovations to keep up with the increasingly well-informed consumer demands,” she added.

Earlier, Malaysia External Trade Development Corp (Matrade) chairman Datuk Dr Noraini Ahmad said the demand for food industry is expected to expand progressively in view of the increasing trends of the consumers around the world.

Noraini said the growth in the primary food production, together with an expansion of the food processing industry, leads to greater synergy, in terms of value-added creation, product diversification and market expansion.

In 2016, she said Malaysia’s exports of processed food to the world increased by 11% to RM19.99 billion compared to RM18.01 billion in 2015, driven by edible products and preparations, cocoa and cocoa preparations, prepared cereals and flour preparations, margarine and shortening, and dairy products.

She said the halal industry has now emerged as a growing sector in the global economy and is creating a strong presence in developed countries.

According to Noraini, the total value of the global halal market is estimated at US$2.3 trillion a year, while in the halal food sector alone, the market is estimated at US$610 billion annually.

“Consumers are now looking at quality, safety and wholesomeness. From farm to plate, from tip to toe, across all industries including pharmaceutical, ingredients, fashion and even logistics, halal is required to be an element within the industry,” she said.

In 2015, she said the exports of halal products by Malaysian halal-certified companies recorded a value of RM39.4 billion.

Noraini said the major items exported include F&Bs, which comprise food and non- food ingredients such as fats, additives, salts, emulsifiers and colourings valued at RM19.5 billion.

The leading F&B trade fair will be held from Aug 9-11 at the Putra World Trade Centre organised by Sphere Exhibits.