NEWARK, Del, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The flavors for pharmaceutical and healthcare applications market was worth more than US$ 1.2 billion in 2023 and is estimated to expand at a CAGR of 5.5% from 2023 to 2033 due to the increasing incidence of medical problems worldwide.
Growing consumer awareness of the significance of physical well-being and fitness is cruising customer engagement in the consumption of nutritional supplements to boost immune function, resulting in greater product demand. Enhanced minerals and vitamin deficiency among the global population as a result of a dearth of consumption of nutrient-rich foods are likely to increase demand for flavors from dietary supplements.
The growing working-woman population and rising awareness about child nutritional requirements will drive flavor demand for infant nutrition compositions. Increasing clean label prerequisites are raising the significance of plant-based ingredients in pharmaceutical formulations, which is expected to expand market statistics during the forecast timeframe. The high demand for flavored infant formula and nutrients to augment food intake among kids is increasing the deployment of various flavors in infant nutrition, which is expected to enhance the business strategy in the APAC region over the next several decades.
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Key Takeaways from Market Study
- By end use, dietary supplements are expected to witness significant growth, with revenue exceeding US$ 745 Million by 2033.
- The omega fatty acid segment is anticipated to expand at a CAGR of more than 7.1% through 2033.
- The European healthcare product flavors market is expected to exceed USD 335 million by 2033, with a CAGR of more than 5.2%.
- Asia Pacific flavors market for the pharmaceutical and healthcare industry is anticipated to rise at a CAGR of more than 5.7% CAGR.
- COVID-19 has contributed to the expansion of the flavors market for pharmaceutical and healthcare applications with a CAGR of 4%
“Increased vitamin and mineral deficiency among the world population as a result of a dearth of usage of nutrient-rich foods is likely to raise demand for flavors from food additives. Rising urbanization, rising disposable incomes, and greater consumer awareness of wellness issues may stimulate consumers to integrate dietary supplements into their daily diet, thereby bolstering the product landscape” says an analyst at Future Market Insights.
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Market Competition
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, and Sapphire Flavors & Fragrances, among others are some of the major players in the flavors market for pharmaceutical & healthcare applications.
- Beta Heart, a new product from Herbalife Nutrition, was launched in January 2020. The product is particularly created to maintain blood cholesterol levels stable. Beta Heart, a vanilla-flavored product, is obtainable in a 15-gram sachet.
- Firmenich, the world's biggest private fragrance and flavor company, is delighted to announce dragon fruit as its 2023 Flavor of the Year, recognizing consumers' desire for exciting new additives and bold, adventurous flavor creation.
- Symrise AG took a further major leap forward to endorse manufacturers in October 2021 with the SymProBiomeTM platform. It encourages a deeper understanding of the fragile ecosystems that classify us as humans. Modern consumers desire products that are in tune with their bodies, harmonizing with their natural microbiomes and assisting them in looking and feeling better.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global flavors for pharmaceutical & healthcare applications market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of end use (OTC drugs, dietary supplements, therapeutic nutrition and healthcare nutrition) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Key Segments Profiled in the Flavors Market for Pharmaceutical & Healthcare Applications Industry Survey
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
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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About the Food & Beverage at Future Market Insights
The Food & Beverage team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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