Softgel Capsules Market

Softgel Capsule Market Research, 2031

The global softgel capsules market size was valued at $4.4 billion in 2021, and is projected to reach $7.5 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031. Soft gelatin capsules, also known as softgels or soft elastic capsules, are hermetically sealed one-piece capsules containing a liquid or a semisolid fill without a bubble of air or gas. They are made from a more flexible, gelatin film plasticized by the addition of glycerine, sorbitol, or a similar polyol.

In addition, non-gelatin softgel capsules are obtained from plant-based natural sources, free of animal derivatives and GMO, and devoid of gluten and modified sugar. They are made from starch, pullulan, and cellulose (Hydroxypropyl Methylcellulose). Vegetarian capsules are an ideal solution for consumers seeking an animal free alternative to gelatin capsules.

The COVID-19 pandemic has helped the industry grow significantly, as demand for softgel health supplements to improve immune system during COVID-19.

The factor which drive global softgel capsules market growth during the forecast period include, increase in R&D activities to support usage of softgel capsules, surge in demand for softgel health supplements, rise in consumer awareness related to preventative healthcare, and proliferation of distribution channels. Furthermore, improvement in lifestyle pattern, rise in geriatric population, and increase in number of self-directed consumers are somefactors which fueled the market growth.

In addition, rapid development of the e-commerce industry and increase in government expenditure on healthcare factors softgel capsules market trends responsible for the market growth. However, high cost associated with softgel impede the market growth. On the other hand, high growth potential in emerging markets and growth in vegan population are expected to offer profitable softgel capsules market opportunity for the growth of the market during the forecast period.

The outbreak of COVID-19 has disrupted workflows in the healthcare sector around the globe. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. The global softgel capsules industry experienced a decline in 2020 due to global economic recession led by COVID-19. In addition, the COVID-19 outbreak disrupted the supply chain across various end-user industries like food & beverage, healthcare, and industrial.

However, the market is anticipated to witness recovery in 2021, and show stable growth for the softgel capsule market during softgel capsules market analysis. This is attributed to the increase in adoption health supplements to improve immune system during COVID-19 as well as increase in self-care trend coupled with the benefits offered by plant-based softgel capsules. Popular supplement ingredients that are thought to support immune health include, vitamin C, vitamin D, zinc, elderberry, echinacea, and probiotics, which are also available in softgels. During the COVID-19 pandemic, sales of these supplements increased which drive growth of the market. 

SOFTGEL CAPSULES MARKET SEGMENTATION  

The softgel capsules market is segmented into type, application, distribution channel, and region. By type, the market is categorized into gelatin softgel capsules and non-gelatin softgel capsules. On the basis of application, the market is segregated into pharmaceuticals, health supplements, and cosmetics. By distribution channel, the market is classified into supermarkets & hypermarkets, pharmacies & drug stores, and online providers. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segment Review

By type, the market is segmented into gelatin softgel capsules and non-gelatin softgel capsules. The gelatin softgel capsules segment dominated the global softgel capsules market share in 2021, and is expected to remain dominant during the forecast period, owing to increase in adoption of gelatin softgel capsule for various nutritional as well as pharmaceutical purpose and availability of gelatin softgel capsule in the market by various key players.

By application, the market is segregated into pharmaceuticals, health supplements, and cosmetics. The health supplements segment dominated the global market in 2021, and is anticipated to continue this trend during softgel capsules market forecast. This is attributed to increase in application of softgel capsules as heath supplements, such as nutrient compounds include vitamins, minerals, fiber, fatty acids, and amino acids, to increase immune system, reduce anxiety, and boost overall health of people.

By distribution channel, the market is classified into supermarkets & hypermarkets, pharmacies & drug stores, and online providers. The pharmacies & drug stores held the largest market share in 2021, and is expected to remain dominant during the forecast period, owing to pharmacies & drug stores is the oldest and most conventional medium distributing softgel capsules to consumers, and availability of these products at retail stores at discounted price.

By region, North America accounted for a major share of the softgel capsules market in 2021, and is expected to maintain its dominance during the forecast period, owing to presence of major key players in the U.S. and other countries. In addition, increase in adoption of vegetarian softgel capsule owing to grоwth in соnсеrn аmоng реорlе fоr mаіntаіnÑ–ng а hеаlthу lÑ–fеѕtуlе аnd соnÑ•Ñ–Ñ•tеnt grоwth Ñ–n thе gеrіаtrіс рорulаtіоn, drive the market growth during the forecast period.        

Snapshot of the Asia-Pacific Softgel Capsules Market  

Asia-Pacific offers profitable opportunities for key players operating in the softgel capsules market, thereby registering the fastest growth rate during the forecast period, owing to the growing infrastructure of industries, rising disposable incomes, and well-established presence of domestic companies in the region. In addition, rise in contract manufacturing organizations within the region provides great opportunity for new entrants in this region. Moreover, rise in personalized medicine expenditure and adoption of high-tech processing to improve the production of softgels, further drive the growth of the market.

The key market players profiled in the report include, Aenova Group, Best Formulations, Inc., Captek Softgel International, Inc., Catalant, Inc., DCC Plc. (Eurocaps), Procaps Groups, Robinson Pharma, Inc., Lyfe Group (Caps Canada), Sirio Pharma Co. (Ayanda), and Thermofisher Scientific, Inc. (Patheon).

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the softgel capsule market analysis from 2021 to 2031 to identify the prevailing softgel capsule market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the softgel capsule market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global softgel capsules market size trends, key players, market segments, application areas, and market growth strategies.

 Softgel Capsules Market Report Highlights