Flavors Market for Pharmaceutical & Healthcare Applications Size By End Use (OTC Drugs, Dietary Supplements [Vitamins & Minerals, Proteins & Amino Acids, Dietary Fibers, Omega Fatty Acids, Botanicals], Therapeutic Nutrition, Healthcare Nutrition [Infant N

Flavors Market for Pharmaceutical & Healthcare Applications Size 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]), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2023 - 2032

Global flavors market for pharmaceutical & healthcare applications is slated to grow at robust rate between 2023 and 2032, owing to the increasing penetration of natural flavors in the overall flavoring agent market.

Overall, the flavors market for pharmaceutical and healthcare applications is divided into end-use and regions.

Based on end use, the global flavors market for pharmaceutical & healthcare applications has been fragmented into OTC drugs, therapeutic nutrition, others, healthcare nutrition, and dietary supplements. Among these the OTC (over-the-counter) segment is anticipated to grow due to the advent of fast and affordable drugs and an increasing number of pharmaceutical stores. Since these medicines are directly sold to customers without the requirement of any professional prescription, there is an ongoing trend of personalization of health and wellness, which is fuelling the market growth.

Additionally, the therapeutic nutrition segment would also grow during the analysis timeframe given the fact that more customers are choosing nutrition therapy and weight management plans to deal with diseases like blood pressure and diabetes. Moreover, consumers are also using more supplements laced with different flavors and taste, which is also driving the market demand.

Meanwhile, the others segment is expected to garner a robust growth. It includes both maternal nutrition and elderly nutrition in the form of nutritional supplements or other products. The demand for these products is increasing as they ensure a healthy and balanced diet for pregnant women and elder people, positively impacting the market scenario in the upcoming time.

In the context of region, the global flavors market for pharmaceutical & healthcare applications has been divided into North America, Asia Pacific, MEA, Europe, and LATAM. Among these, the global flavors market for pharmaceutical & healthcare applications in Europe is slated to grow in the upcoming time, owing to the noticeable change in eating habits of the general populace, given their daily hectic schedule.

Lack of nutrition and dietary imbalance has generated a high demand for nutritional food which is propelling the consumption of nutritional supplements. Such trends are likely to be in favor of the regional market growth.

Besides, in the LATAM region, there is an increasing consumer spending on functional foods and dietary supplements. This tendency is growing due to a rise in disposable income in the developing countries such as Peru, Brazil, and Argentina, which will drive the market growth in this region.

Some of the major key players in this industry include International Flavours & Fragrances (IFF), Keva Flavours, Symrise AG, Mane SA, Concept Flavors & Fragrances, Prinova Nagasa Group, Taste Master Flavors, Firmenich, Carmi Flavors & Fragrances, Wild Flavors & Specialty Ingredients, Quest Nutra Pharma, Gold Coast Ingredients and Sapphire Flavors & Fragrances.