Selbyville, Delaware, Feb. 08, 2021 (GLOBE NEWSWIRE) --
The flavors market for pharmaceutical & healthcare applications is expected to cross USD 1.4 Billion by 2026, according to a new research report by Global Market Insights, Inc. Rising consumer awareness regarding the importance of physical fitness and wellness is driving consumer attention towards the consumption of dietary supplements to enhance body immunity, thus rising product demand.
Increasing instances of vitamin and mineral deficiency among global population owing to lack of consumption of nutrient-rich foods are likely to raise the demand for flavors from dietary supplements. Rising urbanization, increase in disposable incomes, and growing consumer awareness regarding health issues may prompt consumers to include dietary supplements as a part of their daily diet, thus fueling the product landscape. Increasing consumption of botanicals or plant-based ingredients as dietary supplements should foster flavor market for pharmaceutical and healthcare applications outlook.
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Flavors industry for pharmaceutical & healthcare applications from Omega 3 acids is expected to surpass USD 60 million with a CAGR of over 7% through 2026. Omega 3 acids are becoming important tools in mainstream medicine and are also proven to provide health benefits for every age group, from before birth to old age. They have a massive demand among consumers as they help in cognitive development and reduce asthma risks. Further, the pharmaceutical industry develops, discovers, produces, and markets pharmaceutical drugs for use as medications to be administered to patients, with the aim to cure them or vaccinate patients. Since baby-boomers and millennials are mainly concerned about the taste of products, manufacturers are incorporating omega acids in chewable capsules in different color and taste, creating lucrative growth opportunities for the market.
Some major findings of the flavors market for pharmaceutical & healthcare applications market report include:
- Increasing working woman population and growing awareness regarding child health and nutrition has resulted in fostering flavors demand for infant nutrition formulations.
- Increasing clean label requirements are rising the priority for plant-based ingredients in pharmaceutical formulations which is likely to boost the market statistics in the near future.
- Some of the key manufacturers in the market include Symrise AG, International Flavors & Fragrances, Inc., Firmenich, Prinova Group and Mane SA
- Flavors market from dietary supplements application witnessed highest growth potential and is further anticipated to grow due to health awareness among population.
- Asia Pacific accounts majority share in the market and is further anticipated to grow owing to growing regional demand for infant nutrition products.
Browse key industry insights spread across 220 pages with 131 market data tables and 30 figures & charts from the report, “Flavors Market For Pharmaceutical & Healthcare Applications (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]), Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Europe flavors market for pharmaceutical & healthcare applications is expected to surpass USD 330 million with a CAGR of over 5% through 2026. Rising ageing population is one of the most prominent social and demographic trends of the 21st century, especially in the European countries. Between 2010 and 2060, the people aged 65 or above proportion is projected to almost twice, increasing from 16% to 29% of the total population of CEB (Council of Europe Development Bank) member countries, to represent about 160 million individuals. Therefore, this growing aging population led to increase in demand for additional nutrients, drugs, and supplement in the market. Hence this factor should propel the regional market trends.
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Browse Related Report:
Encapsulated Flavors and Fragrances Market Statistics By Technology (Physical Process [Atomization {Spray Drying, Spray Chilling, Spray disk}, Extrusion, Fluid bed technique],Chemical & Physicochemical Process), Product (Flavor Blends, Fragrance Blends, Essential Oils & Natural Extracts, Aroma Chemicals), Encapsulation Process (Micro Encapsulation, Nano Encapsulation, Hybrid Technology, Macro Encapsulation), End-Use (Food & Beverages, Toiletries & Cleaners) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024
https://www.gminsights.com/industry-analysis/encapsulated-flavors-and-fragrances-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.