Flavors Market for Pharmaceutical & Healthcare Applications Size By End Use (OTC Drugs, Dietary Supplements, Therapeutic Nutrition, Healthcare Nutrition) & Global Forecast, 2023-2032

Flavors Market Size

Flavors Market for Pharmaceutical & Healthcare Applications size was valued at more than USD 1 billion in 2022. Driven by the rising health consciousness among people globally, the industry is expected to grow at over 5% CAGR from 2023 to 2032.
 

The growing instances of chronic diseases are driving the uptake of pharmaceutical products. The significant prevalence of health problems accompanied by the development of new nutritional products is set to drive the growth of the flavors market for pharmaceutical and healthcare applications. An upsurge in consumer preference for flavored food supplements is foreseen to augment business growth further. Moreover, in light of the COVID-19 pandemic, consumers are increasingly opting for natural ingredients, thereby bolstering the use of botanical extracts in food products, which is likely to positively impact the product outlook.
 

Moreover, the mounting consumption of dietary supplements due to rising health consciousness is fostering the demand for flavors in pharmaceutical and healthcare products. As a result of the coronavirus pandemic, the adoption of healthy food and lifestyle has fueled the growth of the flavors market for pharmaceutical & healthcare applications. A survey conducted by Amway, a health & wellness expert, indicated that 9 out of 10 Thai adults are taking important measures to improve their health after the COVID-19 outbreak, which is foreseen to stimulate product sales.
 

Soaring knowledge of artificial flavoring may restrain industry progression

Escalating consumer awareness regarding the use of artificial flavoring substances is a major factor restraining market growth. The burgeoning food consumption has pushed food processors to include artificially curated flavors in products. Although, the general assumption of people that natural flavors are better compared to artificial substances has hampered the development of the flavors market for pharmaceutical & healthcare applications. Nonetheless, due to the soaring inclusion of natural-flavored products by companies in their offerings, coupled with the rise in health conditions, the adoption of flavored pharmaceutical products is projected to help market players in combatting this issue.
 

Flavors Market Analysis

Flavors market for pharmaceutical & healthcare applications from the dietary supplements end-use segment is poised to observe notable expansion to surpass USD 740 million in revenue by 2032. Dietary supplements, such as pills, capsules, tablets, powders, or liquids, improve the human diet by supplying nutrients extracted from food or synthetic sources to boost the quantity of their consumption. Shifting eating habits and lifestyles are contributing to the emergence of several diseases, thereby pushing the demand for dietary supplements due to their numerous health benefits, which is projected to drive segment expansion.
 

Asia Pacific flavors market for pharmaceutical & healthcare applications is primed to depict over 5.5% CAGR from 2023 to 2032. The substantial utilization of flavors in dietary supplements, OTC drugs, therapeutic nutrition, and healthcare nutrition in the APAC region is anticipated to bolster product penetration. Additionally, the high demand for flavored infant formula and nutrients to bolster food intake among children is increasing the adoption of various flavors in infant nutrition, which is speculated to improve the business scenario in the APAC region.
 

Flavors Market Share

• Keva Flavours
• Gold Coast Ingredients
• International Flavours & Fragrances (IFF)
• Symrise AG
• Prinova Nagasa Group
• Mane SA
• Firmenich
• Taste Master Flavors
• Wild Flavors & Specialty Ingredients
• Quest Nutra Pharma
• Concept Flavors & Fragrances
• Carmi Flavors & Fragrances
• Sapphire Flavors & Fragrances

among others are some of the key players in the competitive landscape of the flavors market for pharmaceutical & healthcare applications.
 

COVID-19 Impact

The COVID-19 pandemic considerably impacted the flavors market for pharmaceutical & healthcare applications as a result of substantial changes in the lifestyle choices of people. Many consumers shifted towards nutritional food consumption and preferred tasteful products due to increasing instances of chronic illnesses. Furthermore, young adults were hugely influenced by growing trends of flavored dietary supplements to maintain their health and body growth, thereby pushing the use of flavors in pharmaceutical & healthcare products.
 

The global flavors market for pharmaceutical & healthcare applications research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD Million from 2018 to 2032 for the following segments:

By End Use

• OTC drugs
• Dietary supplements
  • Vitamins & minerals
  • Proteins & amino acids
  • Dietary fibers
  • Omega fatty acids
  • Botanicals
• Therapeutic nutrition
• Healthcare nutrition
  • Infant nutrition
  • Sports nutrition
  • Clinical malnutrition
  • Others

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Netherlands
  • Poland
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Thailand
• Latin America
  • Brazil
  • Argentina
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa