Report Code: A16306 | Pages: 265 | ||
Tables: 151 | Charts: 60 |
|
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 ÑоnÑеrn аmоng реорlе fоr mаіntаіnÑ–ng а hеаlthу lÑ–fеѕtуlе аnd Ñоnѕіѕtеnt grоwth Ñ–n thе gеrіаtrÑ–Ñ Ñ€Ð¾Ñ€ulаtіоn, 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).
Softgel Capsules Market Report Highlights
Aspects | Details |
---|---|
Market Size By 2031 | USD 7.5 billion |
Growth Rate | CAGR of 5.4% |
Forecast period | 2021 - 2031 |
Report Pages | 265 |
By Type |
|
By Application |
|
By Distribution Channel |
|
By Region |
|
Key Market Players | Lyfe Group (Caps Canada), Robinson Pharma, Inc., Best Formulations, Inc., Procaps Groups, Aenova Group, Thermofisher Scientific, Inc (Patheon), Catalant, Inc., Sirio Pharma Co. (Ayanda), DCC Plc. (Eurocaps), Captek Softgel International, Inc. |
Loading Table Of Content...
The adoption of softgel capsules is expected to increase due to rise in number of self-directed consumers and upsurge in awareness about softgel health supplements in developing countries.
Increase in R&D activities to develop softgel capsules and rise in consumer awareness related to preventative healthcare are projected to supplement the market growth. Major advantages associated with the enteric softgel are higher bioavailability, better clinical outcome, and ease of use, which supplement the market growth.
North America is expected to remain dominant during the forecast period, due to surge in use of softgel capsules. This is attributed to rise in healthcare awareness, ease of product accessibility, and higher adoption of omega-3 supplements. In addition, Asia-Pacific and LAMEA are expected to offer lucrative opportunities to the key players, due to surge in awareness toward preventative healthcare and rise in use of health supplements.
A. A softgel or soft gelatin capsule is a solid capsule (outer shell) surrounding a liquid or semi-solid center (inner fill).
A. Gelatin capsules segment is the most influencing segment in softgel capsules market which is attributed to increase in usage of gelatin to produce capsules, due to its physicochemical, biological, and mechanical properties.
A. The base year is 2021 in softgel capsules market.
A. The major factor that fuels the growth of the softgel capsules market are rise in number of health-conscious people as well as growth in innovations in the pharmaceutical industry.
A. The market value of softgel capsules market in 2031 is $2,212.6 million.
A. Top companies such as, Aenova Group, Captek Softgel International, Inc., Catalant, Inc., DCC Plc. (Eurocaps), Procaps Groups, Robinson Pharma, Inc., Lyfe Group (Caps Canada), and Thermofisher Scientific, Inc. (Patheon). held a high market position in 2021. These key players held a high market postion owing to the strong geographical foothold in different regions.
A. The total market value of softgel capsules market is $1,311.38 million in 2021.
A. The forecast period for softgel capsules market is 2022 to 2031
Start reading instantly.
This Report and over 71,229+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time for readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save the time of readers