Agri-food business International trade fairs, economic forums, business conferences, global exhibitions, and other such events provide sophisticated platforms where businesses can be carried out – either on a national level or on an international scale.
These occurrences usually bring entire marketplaces at one juncture and can be utilized as marketing tools. They can provide a centralized way to ensure that the requirements of clients in any specific industry segment are fulfilled in the best manner possible for the agri-food business.
Since last year, the world was in lockdown and international trade fairs were put on hold, quite like every other activity. This also put on hold the avenues to market, communicate, order, and network in different sectors and industries.
With the resumption of events and the economies of several countries limping back to normal, the agri-food business of India can hope to establish and maintain customer relationships as well as generate sales by being a part of such events.
Gulfood 2022 – An avenue for the food industry to connect, create, change for a better
One event that has resumed with the globe slowly but steadily returning to normal is Gulfood. This is the largest annual F&B sourcing event in the world, where influential companies and market leaders showcase the way towards a new future for the food industry.
This year, the event will be held from 13 – 17 Feb 2022 at the Dubai World Trade Centre. The agri-food business industry is expected to come together and talk about high-volume F&B sourcing, global food launches, powerful distributor partnerships, and interesting startup innovations.
Action-driven conversations towards creating a strong, seamless food supply will also take place at the event.
Agri-Food Business of India
The global food and beverages sector is a high growth one and has been evolving at a compound annual growth rate (CAGR) of 5.7 percent since 2015. According to expert estimates, it is expected to reach $8,638.2 billion in 2025 and $11,979.9 billion in 2030. The market drivers for the agri-food business are listed below:
- Increase in consumption of organic food
- Increase in awareness about immunity boosting foods and beverages
- Strong economic growth in emerging markets
- A growth in the retail sector in food industry
- Implementation of the latest innovations in food industry
- Positive social media marketing campaigns
According to experts, the Indian food sector is likely to tabulate steady sales growth over the next decade driven by an increase in urbanization and lifestyle changes.
The growing use of branded and organized packaged food will benefit the business in the medium term. The evolution of modern retail is expected to play a pivotal role in the growth of the Indian food sector.
Moreover, incumbent advantages are strongly dictated by rigid consumer preferences and brand loyalty.
The agri-food industry can tap into these and other emerging opportunities, showcase their strengths and discover newer categories within the FMCG space such as healthy diary, healthy evening snacks, and pet food by being a part of events such as the Gulfood.
Such events can help the food businesses to create their brands, make new connections, etch out a global presence, and secure their share in a growing sector. Some of the advantages that the companies can hope to accrue from being a part of high profile international trade shows are listed below:
Tap into market sentiments
Agri-food suppliers and manufacturers can use the ground provided by any international trade fair to tap into market sentiments and determine the potential for their agri-food business ideas.
The trade fairs are just perfect to carry out research, evaluate the competition, identify new agents/distributors, start joint ventures, and create project partnerships.
Network with Indian and foreign participants
International trade fairs are the perfect venues where Indian and foreign participants can work towards creating joint ventures and tie-ups, bringing in investments to their respective countries.
Ensure exchange of information and reinforce the industry
Exhibitions and trade fairs can be avenues where information is exchanged and the strength and collaborative nature of the agri-food business in India are highlighted.
This becomes all the more important during the current economic slowdown triggered by the worldwide lockdown. Now, is the time when the industry has to come together and demonstrate its tenacity, strength, and collaborative nature.
The tough market conditions can be the perfect backdrop against which the international trade fairs are organized and celebrated by participants. The companies from the agri-food business in India registering at such an event can demonstrate greater visibility and develop trust throughout the value chain.
Reach to a lot of customers at once
Trade fairs are a way to reach a lot of potential clients at once; the companies in the agri-food business in India can use these forums to build on existing relationships and boost customer loyalties. They can use the option of face-to-face communication to convince interested parties of their products and services.
Boost their export sale
Companies engaged in the agri-food business in India can use international trade fairs to boost exports. Small and medium-sized companies can participate in such fairs to gain access to international markets.
Provide a bird’s eye view of all the products and technologies
Conference and international exhibitions such as Gulfood 2022 can bring together all the potential buyers at a single platform, giving them access to the whole range of products and technologies that are being used today in the Agri commodities and food sector.
The live demonstrations, product launches, and opportunities to network with innovators can add sales and promote business.
Facilitate trade by being a meeting point
Business houses and entrepreneurs can use these venues as a cost-effective means for achieving trade objectives. They can hope to meet new buyers in person and also renew their contracts with the old ones.
International Trade Fairs can reinforce the market presence of companies engaged in the agri-food sector and boost visibility in international markets where the comparative costs of other tools of promotion are relatively high.