Taipei, Sept. 11 (CNA) Taiwanese and Canadian biotechnology companies exchanged information of "functional food and nutraceuticals" and looked for potential partners in the rapidly growing sector in a video conference Tuesday.
Almost 80 representatives from Taiwanese companies attended the conference titled "Canada-Taiwan Functional Food and Nutraceuticals Video Conference," which was organized by the Canadian Trade Office in Taipei (CTOT).
Seven seven Canadian companies made presentations in the videoconference in the hope of finding partners in Taiwan.
Canada enjoys a leading position in the "functional food and nutraceuticals" industry, which has more than 300 companies and a domestic market of C$6.6 billion (US$6.24 billion) annually, said CTOT Deputy Director Hugh Moeser.
With an estimated annual overall market of NT$25.6 billion and an increasing interest in nutrition, Taiwan has great potential for Canadian companies, said Wu Chao-hsiung, Managing Director of the Taiwanese company Sentosa Co. Ltd. in a presentation.
In fact, Taiwan is already Canada's fourth-largest trading partner in the industry, Wu noted.
According to a survey of more than 3,000 Taiwanese white-collar workers, more than 86 percent of respondents have bought dietary supplements in the last 12 months, Wu said, adding that vitamins, chicken essence and grape seeds are among the most popular of these products in Taiwan.