The Global Softgel Capsule Market is estimated to touch a valuation of USD 3,276.00 MN by 2023. In its recently published research report, MRFR also asserts that a CAGR of 5.46% throughout the forecast period (2018-2023).
Market Overview
The global softgel capsule market is proliferating, mainly due to the increasing personalization in medicine development. The growth of the dietary supplements market is getting led by the rising geriatric populace, increasing prevalence of various diseases prompted by the heady lifestyle and rising healthcare cost.
Rapid expansion of the pharmaceutical sector, alongside increased healthcare expenditure, has opened new avenues for market players. Besides, regulatory and technological advances are leveraging the benefits of large-scale manufacturing with a high degree of flexibility for personalization, in turn, fostering the market growth. Additional factors, such as increasing personalization of therapies and substantial investments made in R&D for innovations to accelerate the production flow, are supporting the growth of the market.
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Softgel manufacturing process is simple. Unlike many of its peers, softgel capsules do not require complex formulation. They are used for encapsulation of liquid or semi-liquid active ingredients. These capsules can accommodate a wide range of pharmaceutical compounds. Sales of softgel capsule will remain strong during the assessment period. Rising demand for nutraceuticals is reflecting favolably on the softgel capsule market
Key Players
Top leading Key Players of the global softgel capsules market include Patheon (part of Thermo fisher scientific), Weihai Baihe Biology Technological Co. Ltd., Catalent, Inc., Capsugel (a part of Lonza), Captek softgel International Inc., Amway, EuroCaps Ltd. (part of the DCC plc Group), Sirio Pharma Co. Ltd., Strides Pharma Science Limited, Soft Gel Technologies, Inc., and International Vitamin Corporation, among others.
These well-established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain a competitive advantage in this market. Top players are substantially investing in R&D and clinical trials to accelerate product development and innovations and to cut down production costs.
Global Softgel Capsule Market – Segmentation
The segmental analysis of the global softgel capsule market is conducted on the basis of type, and application.
By Type, the market has been segmented into gelatin type, and non-animal type. The gelatin type segment accounted for the largest market share in 2017. Gelatin type softgel capsules are easy-to-use for administration drugs orally or through inhalation routes. Meanwhile, the non-animal types segment is expected to witness a relatively higher CAGR during the assessment period.
Based on application, the market has been segmented into vitamins, supplement, and nutrition. The vitamins segment command 37.8% market share during the forecast period. Increased incidence of vitamin deficiency globally is supporting the growth of the segment. The nutrition segment is projected to witness the fastest CAGR during the assessment period. Malnourishment remains a major issue in various parts of the world, prompting governments to launch awareness programs and subsidies products
Intended Audience
- Soft gel capsules manufacturers
- Soft gel capsules suppliers
- Medical research laboratories
- Research Institutes
- Research and Development (R&D) Companies
- Market Research and Consulting Service Providers
- Potential Investors
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Softgel Capsule Market – Regional Analysis
The regional analysis of the global softgel capsule market spans across Americas, Europe, Asia Pacific, and the Rest of the World. North America, at present, holds the maximum share of the global market. It is projected to grow from USD 747.95 Mn in 2017 to USD 1,072.74 Mn by the end of 2023, striking a CAGR of 6.2% over the review period. The efficiency of these capsules in holding the semi-solid or liquid compound without losing its nutrient value has motivated its adoption by the pharmaceutical industry leaders. This, in turn, has been further backed by the consolidation of major industry leaders in the region, thus, augmenting the softgel capsule market. In addition, the rising inclination towards the intake of nutraceutical products is further poised to influence the growth of the market positively in the forthcoming years.
Asia Pacific is a highly lucrative market and is poised to expand at a CAGR of 6.04% over the projection period. The regional market has been estimated to value at USD 740.94 Mn towards the end of 2023. The strong value maintained by the pharmaceutical industry in the region is likely to drive the growth of the regional softgel capsule market in the foreseeable future.
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In addition, increased use of supplements for fulfilling nutritional requirements is creating lucrative opportunities for market players. Softgel capsules are used for encapsulation of various type of nutraceuticals. Softgel capsules are a preferred drug capsulation solution. In recent years, a considerable number of pharmaceutical companies have entered the global softgel capsule market, which not only boosted the global supply but also led to further diversification of the product.
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