USD 2.4 billion
Report ID: SQMIG35I2240 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 86 | Figures: 76
Enteric Softgel Market size was valued at USD 2.4 billion in 2021 and is expected to rise from USD 2.5 billion in 2022 to reach a value of USD 3.48 billion by 2030 at the CAGR of 4.23% during the forecast period (2023-2030).
Enteric softgel capsules having gelatin-based coatings consist of semi-solid and liquid medication. These capsules offer advantages such as bioavailability, easy usability, and improved adequacy levels. The growth of this market is attributed to increasing consumer awareness about the benefits of consuming preventive medicine, increasing geriatric population, rising prevalence of chronic as well as nutrient deficiency diseases, growing pharmaceutical industry, and expanding application of the product to enclose omega-3 oils. In addition, the growing health awareness among the consumers and rising acceptance of dietary and nutritional supplements are the factors which help to propel the market growth during the forecast period.
To meet the requirements of the vegan consumer, new product innovations such as non-gelatin enteric softgel capsules are introduced that help to strengthen the market growth. Major players are focusing on manufacturing of novel variants by using starch and other organic plant-based sources. The expansion of online pharmacies through e-commerce retail channels are having a positive impact on the global market. Major players increased their R&D investments to improve the bioavailability of these capsules and this is expected to propel the market growth.
Furthermore, product innovations such as chewable types that do not require water to swallow are anticipated to augment the enteric softgel capsules market in the coming years.
US Enteric Softgel Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.4 billion
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enteric softgel capsules market is segmented into type, application, and distribution channel. Based on type, the market is grouped into gelatin capsules and non-gelatin capsules. In terms of application, the market is classified into health supplements and pharmaceuticals. With respect to segmentation by distribution channel, the global market is categorized into supermarkets & hypermarkets, pharmacy & drug stores, and online stores.
Enteric Softgel Market Analysis by Application
The health supplements segment is expected to dominate the global market and also it is expected to grow at the fastest CAGR during the forecast period. The growth of this segment is attributed to the rising adoption of softgel capsules, growing awareness about the nutritional supplements such as omega-3 and other vitamins, increasing geriatric population, and rising demand for the health supplements in the developing countries.
Enteric Softgel Market Analysis by Distribution Channel
The pharmacy and drug store segment are expected to grow at the fastest CAGR during the forecast period. The growth of this segment is attributed to increased preference of patients to buy medicines from the pharmacies.
The online store segment is expected to witness rapid growth during the forecast period. The growth of this segment is attributed to the increasing consumer awareness about the online pharmacy, rising promotional activities by online service providers, and growing competition that leads them to offer medicines at competitive prices to consumers.
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North America is expected to dominate the global enteric softgel market during the forecast period. The growth of this region is attributed to high per capita healthcare expenditure, rising investments in R&D to develop novel variants, increasing consumer awareness about healthy and nutritional supplements. Major players such as Colocon Inc. dominate the North America market which help to fuel the demand for enteric softgel capsules in the coming years.
Asia Pacific is expected to grow at the fastest rate during the forecast period. The growth of this region is attributed to the increasing prevalence of nutritional disorders, growing healthcare industry, and rise in government investments to develop the healthcare infrastructure. In addition, the growing consumer awareness about the nutritional disorders and prevention and treatments for such disorders is further projected to help this region attract significant revenues in the coming years.
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Enteric Softgel Market Driver
Increasing Production Capabilities by Leading players
Enteric Softgel Market Restraints
High Cost and Shelf-Life stability Concerns
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enteric softgel capsule market is competitive in nature due to the presence of prominent players. Major players increased their R&D investments to produce innovative products. Leading players adopted strategies such as merger, acquisitions, product launch, and others to strengthen their position in the market competition. Major players are focusing on the manufacturing of the non-gelatin capsules due to the rising vegan population in order to attract high revenues to their brand name.
Enteric Softgel Market Top Player's Company Profiles
Enteric Softgel Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global enteric softgel capsules market, increasing geriatric population along with increasing prevalence of chronic diseases, growing veganism trend are the factors which are anticipated to propel the market growth. In addition, growing consumer awareness about healthy and nutritional supplements and rising demand for the enteric softgel capsules are the factors which have a positive impact on the market growth. Shelf-life stability concerns and high cost associated with the enteric softgel capsule further restrains the market growth.
|Market size value in 2021
|USD 2.4 billion
|Market size value in 2030
|USD 3.48 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Enteric Softgel Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Enteric Softgel Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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