The Softgel capsule market Size was valued at USD 7.3 billion in 2021 and is projected to grow from USD 7.87 Billion in 2022 to USD 13.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.7% during the forecast period (2023 – 2032).
The pharmaceutical and nutraceutical industries have witnessed a paradigm shift with the increasing popularity of softgel capsules. These unique, gel-coated capsules have become a preferred dosage form for a wide range of applications, from vitamins and supplements to prescription medications. The softgel capsule market has experienced significant growth in recent years, driven by consumer preferences for easy-to-swallow and digestible formulations. This article delves into the key factors contributing to the rise of the softgel capsule market, exploring market trends, innovations, and opportunities.
Softgel capsules have gained traction due to their ease of consumption. Unlike traditional hard capsules or tablets, softgels are easier to swallow, making them an attractive option for individuals who may have difficulty with conventional forms. This convenience factor has played a pivotal role in the growing acceptance of softgel capsules, especially among the elderly and pediatric populations. On the other hand, high manufacturing cost and complexity of production are some of the factors posing challenges for the growth of the market. Also, unclear regulatory policies in many countries are significant constraints for the growth of the global Softgel Capsule Market. Nevertheless, multiplying numbers of pharma companies that can manufacture a softgel capsule market at a high production rate are some of the major factors that would support the growth of the market by bringing the production cost down.
Softgel Capsule Market Segmentation
The world of softgel capsules is segmented by type and application.
Based on type, the capsule market is segmented into gelatinous and non-animal derived. The gelatin-based segment is expected to grow in the largest market due to its ease of administration orally or by inhalation. The non-animal sector is expected to witness a very high CAGR during the forecast period.
Based on application, the retail market is segmented into nutraceuticals, pharmaceuticals and vitamins. The vitamin segment is expected to hold more than 30% of the market during the forecast period due to increasing vitamin deficiency, which will lead to the growth of this segment. The food sector is expected to exhibit the highest CAGR during the forecast period as food insecurity increases in underdeveloped and developing countries, leading to government announcements regarding project information and products.
Softgel Capsule Market Regional Analysis
Based on the region, the global soft gel capsule market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA).
North America is the largest region in the global soft gel capsule market and is expected to sustain its market standing over the forecast period, owing to the growing preference of capsules dosage among consumers, growth in consumer awareness regarding the benefits of nutraceutical products to prevent significant health disorders, established pharmaceutical in the region, and the increasing government initiatives to ensure the superior quality of medical facilities offered to the consumers.
Europe is one of the significant regions in the global market for soft gel capsules and is expected to contribute substantially to the market share over the forecast period, owing to the established healthcare sector, accessibility of superior medical facilities,and the increasing health consciousness among consumers.
The Asia Pacific is the fastest growing regions in the global soft gel capsule market, owing to the government initiatives to enhance the healthcare sectors, especially in emerging economies such as India, Japan, and China.
The Middle East and Africa (MEA) region is expected to witness gradual growth of the forecast period and account for the smallest market share, due to the weak healthcare sector in Africa, and unfavorable factors for market growth such as weak economic and political conditions. The developing Middle Eastern countries such as Saudi Arabia and the United Arab Emirates are expected to contribute to the majority of the market share, owing to the presence of a developing healthcare and pharmaceutical sectors.
Softgel Capsule Market Players are Amway, Capsugel (a part of Lonza), Captek softgel International Inc., Catalent, Inc., EuroCaps Ltd. (part of the DCC plc Group), International Vitamin Corporation, Patheon (part of Thermo fisher scientific), Sirio Pharma Co. Ltd., Soft Gel Technologies, Inc., Strides Pharma Science Limited, Weihai Baihe Biology Technological Co. Ltd.
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