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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.
What is the Flavors Market size for Pharmaceutical & Healthcare Applications?
Flavors Market for Pharmaceutical & Healthcare Applications was valued at more than USD 1 billion in 2022 and is set to progress at over 5% CAGR over the next 10 years owing to a significant preference for flavored healthcare products and the growing health consciousness among people.
Which companies manufacture flavors for pharmaceutical & healthcare applications?
Some of the major participants in the flavors industry for pharmaceutical & healthcare applications are 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, and Concept Flavors & Fragrances, among others.
Why is the flavors market for pharmaceutical & healthcare applications gaining traction in dietary supplements end-uses?
The dietary supplements application segment is poised to surpass a valuation of USD 740 million by 2032 owing to surging eating habits and lifestyle changes of people that are contributing to the emergence of several diseases.
Which factors will aid the expansion of the Asia Pacific market?
The Asia Pacific flavors market size for pharmaceutical & healthcare applications is primed to witness over 5.5% CAGR from 2023 to 2032 as a result of 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 in the APAC region.