It's time to do business in Asia

It's time to do business in Asia

By 2030, the middle class in Asia will make up the significant majority of the world's consumer spending. Does your nutrition business have a pipeline to Asia?

The Nov. 18, 2011 edition of the Wall Street Journal featured data on how middle-class spending will be dominated in 2030 by the Asia-Pacific Region. In fact, by 2030 the Asia-Pacific region will account for nearly 60 percent of global middle-class spending. In contrast, North America is projected to only account for approximately 10 percent. This is a considerable difference from the current figures where Asia-Pacific and North America both hover around 25 percent.

The implications of these forecasts is global and causes any company to ponder the "what ifs." No doubt it will affect the vibrant global nutrition industry where already a majority of the North American supply base is located in China and other Asia-Pacific countries.

That is why New Hope Natural Media's Engredea has made it a focus to build an information pipeline between Asian and North American companies. Engredea publishes its Engredea Asia eNewsletters and hosts in-market educational Market QuickStart seminars in China and India. Engredea has also formed alliances with many of the leading industry trade associations. In 2012, Engredea will be featuring in-depth monographs that will examine critical issues in understanding how North American companies can work together with companies in Asia to build a brighter and better industry.

Steve Hanson is owner of GRIP IDEAS, a company focused on providing market development strategies to build global businesses.

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