The market crossed the US$ 7.12 billion mark in 2022 and is expected to hit US$ 13.12 billion by 2030, recording a CAGR of 7.9% during the forecast period.
The growing consumption of nutritional supplements will result in the high adoption of softgel capsules.
Consumers in most of the developed and developing countries in North America, Europe, and Asia-Pacific, such as the United States, Canada, Germany, France, UK, China and India, are concerned about maintaining a healthy lifestyle and healthy diet or food habits. There is a growing demand for enhanced vitamins, nutrients, and other health supplements owing to changing lifestyles and rising health consciousness, which drives the growth of softgel capsules. Manufacturers of softgel capsules are targeting consumers with the inclusion of special capsules, vegan options, and healthy ingredients in their product portfolios to boost sales in the market, which in turn influences the need for softgel capsules.
Within the report, the market is segmented into product type, raw material, application, end-user, and geography. Based on product type, the market is segmented as gelatin softgel capsules and vegetarian softgel capsules. Based on raw material, the market is categorized as Type-A Gelatin (pork skin), Type-B gelatin (animal bones & calf skin), fish bone gelatin, hydroxy propyl methyl cellulose (HPMC), starch material, and pullulan. Based on application, the market is categorized as antacid & antiflatulent preparations, antianemic preparations (hematinic preparations), anti-inflammatory drugs, antibiotic & antibacterial drugs, cough & cold preparations, cardiovascular therapy drugs, vitamin & dietary supplements, and others. Based on end-user, the market is categorized as pharmaceutical companies, nutraceutical companies, cosmeceutical companies, and contract manufacturing organizations. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Nutraceutical companies mainly focus on developing vitamins, minerals, and health supplements. Thus, softgel formulation is largely developed to keep up with the rising need for nutraceutical products. The formulations account for nearly 31% of the total revenue of most nutraceutical manufacturers. Increasing awareness of health supplements among developing nations, a growing number of production houses, and a surge in sales due to the COVID-19 pandemic have led to its high growth and large market share.
Increasing applications of softgel capsules in nutraceutical industries are providing lucrative opportunities to drive the growth
Softgel capsules are solid capsules; the outer shell is solid and surrounds a semi-solid center (inner fill) or liquid. Active ingredients can be incorporated into the inner fill, outer shell, or both. They are oral dosage forms for medicine, the same as a capsule. Softgel shells combine gelatin, opacifier, water, and a plasticizer such as glycerin and/or sorbitol. Health professionals have increasingly recognized nutraceuticals as healthy products that help prevent the risk of coronary heart diseases, high and low blood pressure, tumor incidence, insomnia, cancer, and depression. Nutraceuticals provide healthy ingredients which contain vitamins and minerals, carbohydrates, and other essential ingredients, which aid in maintaining an individual’s health. Advantages of soft gel capsules include easy to swallow, unit dose delivery, no taste, tamper-proof, wide variety of colors, sizes, and shapes, accommodating a wide range of compounds filled as a semi-solid, liquid, gel or paste, immediate or delayed drug delivery, can be used to improve bioavailability by delivering the drug in solution or other absorption enhancing media. These benefits lead to greater adoption of these softgel capsules in nutraceutical industries, thereby promoting growth in the market.
Recent strategic developments in the softgel capsules market
Softgel capsules market has undergone several significant developments, and a few of these have been mentioned below:
Several players drive the softgel capsules market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Aenova Group GmbH; Hunan Er-Kang Pharmaceutical Co., Ltd; Capsugel; Fuji Capsule Co., Ltd.; Sirio Pharma Company Limited; Captek Softgel International Inc; Catalent, Inc.; EuroCaps Ltd (part of DCC Plc); Guangdong Yichao Biological Co., Ltd; Elnova Pharma are among the prominent players operating in the market.
Target audience for the report:
Scope of the report:
In this report, the market has been segmented on the basis of:
The List of Companies
- Aenova Group GmbH
- Hunan Er-Kang Pharmaceutical Co., Ltd
- Capsugel
- Fuji Capsule Co., Ltd.
- Sirio Pharma Company Limited
- Captek Softgel International Inc
- Catalent, Inc.
- EuroCaps Ltd (part of DCC Plc)
- Guangdong Yichao Biological Co., Ltd
- Elnova Pharma