Flavors into Over-the-Counter (OTC) Pharmaceuticals Market Trends Forecast And Industry Analysis To 2030

Flavors Into Over-the-Counter (OTC) Pharmaceuticals Market Outlook

Children are fussy eaters and always look out for flavored and appealing consumables. It gets quite difficult for parents to convince their children into taking medicines due to their unpleasant taste. Hence, pharmaceutical manufacturers are emphasizing onto adding flavoring agents in pediatric drugs so as to increase their consumption among babies, youngers, or toddlers. These factors are positively influencing the dynamics of this industry vertical.

The increased use of oral medications and increased R&D activities for pediatric formulations, the flavours in the over-the-counter (OTC) pharmaceuticals market are the factors that are estimated to boost the growth of the market during the forecast period.

Patients often approach a pharmacist instead of visiting a doctor for minor ailments such as cough, cold, allergies, pain, fever, acidity, diarrhoea, and skin-related conditions. The purchase of specific medicines over the counter is legally recognized in most countries. ‘Over-the-Counter (OTC) Medicines’ means drugs which are legally allowed to be sold by pharmacists without the need for a prescription.

People have become more aware of the importance of self-care amid the outbreak of Covid-19 which accelerated the growth in categories, such as vitamins & minerals or nutritional supplements. This is also one of the major factors for the growth of the market during the forecast period.

It is anticipated that in the next years, demand for over-the-counter medications designed to treat COVID-19 symptoms would rise. Because of this, manufacturers who already have a footing in the market are making more COVID-19 management drugs. New avenues for market expansion have been opened up by the need to eliminate the bitter taste of drugs intended to treat COVID-19 symptoms.

Key Market Trends

A large rise in the demand for flavoured tablets is one of the key reasons influencing the expansion of flavours in the over-the-counter (OTC) drugs market. Over the past five years, demand for oral medication formulations has been consistent. Pharma companies are promoting oral dosage formulations more and more as a result of patient-centric initiatives. Because of this, unique and solid oral product forms such chewable tablets, effervescent tablets, and orally disintegrating granules (ODGs) have gained popularity. This is anticipated to cause a major increase in the demand for tastes in over-the-counter (OTC) medicines in the near future.

There are new rules governing children's flavoured drugs. This has led to the development of flexible, dispersible, and multifunctional excipients used in paediatric formulations for the oral, solid, and liquid forms. Children, infants, and toddlers find them to be quite enticing as well. As a result, the market for over-the-counter (OTC) pharmaceuticals is seeing an increase in flavor-enhanced paediatric medications.

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Market Growth Determinants:

• More people want flavored tablets

Over the past five years, demand for oral medication formulations has been consistent. Pharma companies are promoting oral dosage formulations more and more as a result of patient-centric initiatives. As a result, unique and solid oral product forms such chewable tablets, effervescent tablets, and orally disintegrating granules (ODGs) have gained popularity.

• Demand for dietary supplements has increased

The industry is expanding as a result of consumers' rising demand for dietary supplements brought driven by rising obesity rates. Customers are therefore drawn to goods that are rich in vitamins, nutrients, protein, and fibre as well as those that shield them from illnesses. People also enjoy trying new flavours of vitamins, including strawberry, mango, vanilla, and many more. This offers the sector excellent potential for expansion.

• R&D in paediatric formulations has increased

There are new rules governing children's flavoured drugs. This has led to the development of flexible, dispersible, and multifunctional excipients used in paediatric formulations for the oral, solid, and liquid forms. Children, infants, and toddlers find them to be quite enticing as well. As a result, the market for over-the-counter (OTC) pharmaceuticals is seeing an increase in flavor-enhanced paediatric medications.

Segmental Analysis of the Market:

By Product Type

• Vanilla
• Chocolate & Cocoa
• Fruit Flavor
• Cream & Milk Flavors
• Citrus & Mint
• Others

By End Use Type

• Patients
• Doctors
• Pharma

Competitive Landscape:

Some of the prominent companies operating in the market are

• GOLD COAST INGREDIENTS, INC.
• Givaudan SA
• International Flavors & Fragrances Inc.
• Kerry Group
• Sensient Technologies Corp.
• Prinova Group LLC.

Major Questions Answered In This Report:

• What is the growth rate of the global flavours in the Over-the-Counter (OTC) Pharmaceuticals market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?

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