- Four Caribbean brands to join international innovators in the food ingredients market
- Caribbean brands aiming to take advantage of increase in demand for natural products
- Caribbean Export supports CARIFORUM firms participating in Food Matters Live
- Global natural food and drink market estimated to reach $191.9 million (US) by 2023
The COVID-19 pandemic has increased demand from health-conscious consumers for natural products made with pure and simple ingredients. In 2016, the global natural food and drinks market was valued at $79.1 million (US) and by 2023 is estimated to reach $191.9 million (US)- a compound annual growth rate of 17.6%. This presents an excellent opportunity for Caribbean suppliers operating in the natural products space.
On October 13th-14th 2020, Caribbean Export, in collaboration with the European Union, is supporting four Caribbean producers participating in this yearsâ€™ Food Matters Live â€“ a leading food, health and nutrition event.
â€œWe were concerned that this event would not go ahead due to the current pandemic, so, we are pleased that it will still be held virtually. Food Matters Live is an innovative exhibition, bringing together essential players in the food and drinks market across the world. We believe Caribbean brands will be able to leverage this chance to showcase their products and get people talking about what they have to offerâ€ explained Dr. Damie Sinanan â€“ Manager for Competitiveness and Export Promotion at Caribbean Export.
Food Matters Live attracts an unrivalled range of brands, retailers and food services companies and offers a curated experience for participants.Â Funded by the European Union via the 11th EDF Regional Private Sector Development Programme, the regional companies taking part are Caribbean Cure from Trinidad and Tobago; Shavuot International and Cold Bush Organics from Jamaica; and Belizean company Naledo which manufactures the worldâ€™s first turmeric paste.Â
â€œSince the global pandemic, weâ€™ve experienced a surge in demand for our natural healthy products from our international customers. At our core we are always ‘Harvesting Goodness for our consumers, communities and our team’. Weâ€™re very pleased to be able to meet with international buyers to increase our exports and penetration of overseas markets.â€ Shared Joel Harris, Marketing Director at Shavuot International.
The Agency anticipates increased exposure and demand for Caribbean products from this event for the firms taking part and similar businesses within the region. Food Matters Live provides an ideal platform to demonstrate the Caribbeanâ€™s diverse range of innovators who are blazing a trail in the natural products sphere.