MIFB 2024 returns for fast-growing ASEAN industry

This year’s MIFB will tap into ASEAN’s position as one of the fastest-growing F&B industries worldwide

The Malaysian International Food & Beverage Trade Fair (MIFB) 2024 will present its 23rd edition from 17-19 Jul this year at the Kuala Lumpur Convention Centre (KLCC). The event will also feature the inaugural MYFoodTech, a new platform that highlights the latest technological advances, solutions and services across key segments in the food value chain.

Despite global economic slowdown and uneven growth, the F&B industry in the ASEAN region remains one of the largest and fastest-growing in the world, with a market value of over US$667bn in 2023, as reported by Euromonitor International.

The industry is expected to grow at a compound annual growth rate of 6.99% over the next five years, reaching a value of over $900bn by 2028.  This has roused excitement and interest in the sector, with industry players capitalising on tech efficiencies to improve performance and bottom lines, ensuring they remain competitive.

ASEAN is recognised as a dynamic market and growth zone for foods, beverages and nutraceuticals. With innovation and technology identified as two of the biggest challenges facing the region, industry players will need to keep up with the latest trends and embrace technology to unlock more opportunities, while also adopting practices that align with local and global sustainability objectives.

To aid the industry in addressing these challenges and to drive impactful change at scale, this year’s edition of MIFB has taken on the theme of “Elevating the F&B business; Empowering innovations; and Enabling transformation”.

MIFB 2024 will feature a three-day programme of discussions, spotlighting the tech innovations and solutions that will stimulate industry players. It will focus on addressing the various real challenges facing today’s F&B business community, from incorporating technologies and securing sustainability so that F&B will thrive, to embracing new future-ready, digitally-enabled business models that will allow companies to scale for sustainable growth.

The exhibition segment of MIFB 2024 will provide visitors with experiences of the latest products and services in the market today, many of which have incorporated new technology to enhance their role in the value chain. Comprising exhibitors from all over the world, the event offers opportunities for new and established industry players, as well as trade visitors, to connect and collaborate through networking sessions and business matching. Featuring over 14 key segments of the industry, this year’s focus will be on food tech, processing and machinery, and private labelling.

“As one of the leading F&B business events in Malaysia, MIFB has gone from strength to strength every year, and we take pride in playing a part in contributing to the growth of the industry, especially in the ASEAN region. We have a proven track record of engaging with the industry’s most esteemed players, providing an established and credible platform for the region’s F&B community to connect in a meaningful and productive way,” said Hellen Woon, event director of MIFB.

“This year, we are very excited to present the inaugural MYFoodTech trade show in conjunction with MIFB 2024. MYFoodTech will serve as a focal point for industry professionals to discover and harness new technologies that will be vital to the future of food,” she added.

Professionals across various fields will helm the MIFB 2024 conference, addressing topical issues and current trends including green technologies, sustainability, food security, food tech, AI and robotics, big data, as well as the role of government policies and regulations in the sector.

Other highlights at MIFB 2024 include pre-event podcasts, the Startup Programme, and the use of smart event technology which will provide participants with a seamless and enhanced experience throughout. The event will feature over 500 exhibitors occupying over 18,000 square meters, and expects to host over 20,000 trade visitors from more than 80 participating countries.