Product ID: SQMIG35I2101
Report ID: SQMIG35I2101 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 95 | Figures: 76
Global Softgel Capsule Market size was valued at USD 7.62 billion in 2021 and is poised to grow from USD 7.67 billion in 2022 to USD 13.09 billion by 2030, growing at a CAGR of 7.9% in the forecast period (2023-2030).
Softgel capsules have a number of benefits, including ease of swallowing, odour and taste masking, better absorption, increased bioavailability, and excellent atmospheric stability. Traditional capsules now have more features thanks to improvements in manufacturing technology and the introduction of new materials, such as controlled drug release, tamper-evident packaging, and formulation choice of potent APIS due to reduced stomach pH degradation, appealing aesthetics, and longer shelf life. Manufacturers of soft gels are concentrating on creating capsules made of plant-based polymers rather than gelatine, such as starch, HPMC, and pullulan-type gums.
Vegetarians' medical needs are met by capsules free of gelatine. The main benefit of non-gelatine-based capsules is the technical advantages for producers and suppliers, as well as the decreased animal stock waste. Furthermore, the adoption of vegetable capsules by businesses like Aenova raised their sales revenue by a double-digit proportion. A chewable soft gel capsule with improved flavour masking capabilities is being developed by Euro caps. To expand their market share among the world's vegan population, other market giants like Catalent and Roquette are creating vegan capsules.
US Softgel Capsule Market is poised to grow at a sustainable CAGR for the next forecast year.
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Softgel Capsule Market is segmented based on type, application, manufacturers, and region. Based on type, Softgel Capsule Market is segmented into gelatin/animal based, non animal. Based on application, the Softgel Capsule Market is divided into antacid & anti flatulent preparations, anti-anaemic preparations, anti-inflammatory drugs, antibiotic & antibacterial drugs, cough & cold preparations, health supplement, vitamin & dietary supplement, pregnancy. Based on manufacturers, Softgel Capsule Market is segmented into pharmaceutical companies, nutraceutical companies, cosmeceutical companies, contract manufacturing organizations. Based on region, the Softgel Capsule Market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Softgel Capsule Market Analysis By application:
Based on application, the softgel capsule market is divided into antacid & anti flatulent preparations, anti-anaemic preparations, anti-inflammatory drugs, antibiotic & antibacterial drugs, cough & cold preparations, health supplement, vitamin & dietary supplement, and pregnancy.
The vitamins and nutritional supplements segment had the biggest share of 26.3% in the global softgel capsule market. When vitamins are made into tablets or candies, they are more susceptible to air oxidation and deterioration. As a result, softgel capsules are the optimum formulation choice since they provide protection from oxidation and UV radiation, extending the shelf life of the product. According to studies, vitamins taken as softgel capsules enter into the bloodstream more quickly than those taken as tablets. Due to these benefits, vitamins are typically sold in the form of softgel capsules, indicating a sizable market in the application category. It's interesting to note that during the forecast period, this segment had the greatest CAGR of 8.9%. The pandemic led to an increase in vitamin C and D sales of almost 89% from 2019 in nations such as USA and India.
Due to the increasing adoption of healthy lifestyle to combat the pandemic, health supplements held the second place in the application area. Sales of softgel capsules increased as a result of the widespread adoption of pre and postnatal capsules and a preference for tasteless medication, which boosted the expansion of the softgel capsule market..
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North America held the highest share in the global softgel capsule market. One of the main factors stimulating the expansion of the market in the area is the rising preference of major firms to launch products in developed North American nations. Key players aim for FDA and other regulatory body approvals to expand their client base abroad. The Europe softgel capsule market, on the other hand, generated a sizable amount of market revenue in 2021 owing to to the greater investment in the study and production of soft gelatin capsules across many European nations. During the forecast period, the softgel capsule market in Asia-Pacific is projected to expand at the highest CAGR due to much broader patient pool with a variety of chronic illnesses. Additionally, the regional expansion of key companies in the emerging economies of Asia-Pacific will boost its growth rate during the forecast period.
Along with Latin America, the Middle East and Africa have enormous economic potential and are expected to develop. A few of the factors expected to contribute to the rise of market in these regions includes the increasing prevalence of chronic illnesses like CVD and the growing public awareness regarding the consumption of various health and dietary supplements.
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Softgel Capsule Market Driver
Softgel Capsule Market Restraint
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The global softgel capsule market is consolidated in nature. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions for students.
Top Players in the Global Softgel Capsule Market
Softgel Capsule Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global softgel capsule market analysis, the vitamins and nutritional supplements segment had the biggest share in the global market. North America held highest share in the global softgel capsules market. Plant-based capsules have highest demand. Continuous research and development leads to growth of the market.
|Market size value in 2021||USD 7.62 billion|
|Market size value in 2030||USD 7.67 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||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
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For the Global Softgel Capsule 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 Softgel Capsule 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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