Softgel Capsules Market Scope
The softgel capsules market size worth USD 3,276.00 Million at CAGR of 5.46% during the forecast period, believes Market Research Future (MRFR). Softgel capsules are the most preferred formulation for drugs that are poorly soluble while helping elevate the absorption time of a majority of the drug molecules. Its advantages over oral formulations like tablets have enhanced their demand across the globe. Taste masking, ease of swallowing, non-reactive, improved bioavailability, longer shelf life and aesthetically appealing are some of the top reasons for their wide acceptance.
Renowned players such as Eurocaps, and Catalent are working on creating vegan capsules to boost their reach among the expanding vegan consumer base worldwide. Large pharmaceutical companies such as Novartis, Pfizer, Procter and Gamble, and Bayer collaborate with established Contract Manufacturing Organizations (CMOs) to offer efficient and cost-effective products. Research activities to produce oral vaccines for the treatment of respiratory infection that are the result of SaRS-CoV-2 virus has propelled R&D efforts of the softgel manufacturers. In addition, the inclination towards immunity-boosting vitamins in line with a healthier lifestyle, have elevated the demand for softgel capsules following the COVID-19 outbreak.
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Manufacturers are increasingly taking up numerous methods to develop unique and effective empty softgel capsules that are convenient and versatile for nutraceutical, cosmeceutical and pharmaceutical industry applications. Pharmaceutical and nutraceutical sectors mostly prefer empty softgel capsules given their impressive properties for various formulations including solid and liquid dosage forms, as well as easy-to-use features when orally administrating drugs or via inhalation routes.
Softgel Capsules Market Segmentation
Major applications of softgel capsules are Supplement, Nutrition and Vitamins.
The nutrition segment will be grabbing a development rate of 5.98% over the given timeline. The surging prevalence of sedentary lifestyle has been giving rise to a number of health issues, which enhances the need for softgel capsules containing high nutritive value.
Different types of softgel capsule are non-animal type and gelatin. The gelatin type of softgel capsules can secure the leading position in the years ahead. The gelatin segment will be worth USD 2,242.08 million, while the non-animal type segment will thrive at a rate of 5.79% during the forecast period.
Softgel capsules market Regional Insight
The MRFR assessment confirms that the softgel capsules market will be headed by North America, with the region expected to capture a valuation of USD 1,072.74 million and expand at a rate of 6.2% over the forecast period. The North American market is seeing substantial growth on the back of rapidly soaring cosmeceutical and nutraceutical sectors along with the surge in consumer awareness about nutraceutical products. Some other growth-inducing factors can be the fast-expanding health-conscious populace and the surging inclination towards fitness.
As the second highest gainer in the worldwide softgel capsules market, Europe benefits from the considerable contribution from developed countries like France, the U.K and Germany. The European consumers extensively use nutraceutical products as cases of different diseases and conditions continues to surge. The huge base of softgel capsule manufacturers in the region with large-scale production capacity and the heightened number of affluent pharmaceutical companies in the region also induce major business growth. Other than this, Europe stands to benefit from the rising increasing preference for innovative and superior pharmaceutical drugs as well as generics.
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Softgel capsules market Key Players
Soft Gel Technologies, Inc., Strides Pharma Science Limited, Captek softgel International Inc., Capsugel (a part of lonza), Weihai Baihe Biology Technological Co. Ltd., Patheon (part of thermo fisher scientific), Catalent, Inc., Sirio Pharma Co. Ltd., Amway, International Vitamin Corporation, EuroCaps Ltd. (part of the DCC plc Group) are a few of the renowned manufacturers of softgel capsules market.
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