Softgel Capsules Market by Type (Gelatin Capsules, Non-animal Capsules), by Application (Health & Dietary Supplements, Prescribed Medicines), by Manufacturer (Nutraceuticals, Pharmaceuticals, Cosmeceuticals) - Global Outlook & Forecast 2022-2030
According to the deep-dive market assessment study conducted by Growth + Reports, the global softgel capsules market was pegged at ~US$ 7.4 billion in 2021. The market is expected to witness a CAGR of ~7.6% from 2022 to 2030.
A rise in the prevalence of chronic diseases such as diabetes, cardiovascular disease, etc., and increased utilization of health supplements by the health-conscious population have driven the global softgel capsules market. Furthermore, gelatin is the primary raw material for softgel capsule manufacturing and has directly impacted the growth of the market. Rising investments in R&D activities by the key market players and the inclination of the population toward more natural products are driving the global softgel capsules market. Its simplicity in consumption, ability to hide flavors, improved absorption, non-reactivity, visually pleasant appearance, and longer shelf life all contribute to its broad use. More features have been added to traditional capsules as a result of improvements in manufacturing technology, including controlled drug release, tamper-evident packaging, and formulations that use potent APIs due to less stomach pH degradation, appealing aesthetics, and longer shelf life.
Softgel capsules are consumed in chronic diseases like liver diseases, diabetic complications, and many viral infections and cancer. Since these capsules offer better absorption benefit and accurate dosage, it is preferred mostly by manufacturers and healthcare professionals and is patient-friendly. Consumption of vitamins and health supplements such as Omega 3 oil capsules, and Vitamin E capsules, has significantly increased due to growing fitness consciousness and even doctor’s recommendation. These vitamins cannot be manufactured in the form of tablets or open capsules because they are susceptible to oxidation and might get destroyed. Hence, they are manufactured in softgel capsules form. Drugs related to pregnancy are also available in softgel capsules. As the demand for great physical appearance is increasing, many serums, skin-care and hair care products are also available in the form of softgel capsules. All these factors, therefore, boost the global softgel capsules market.
Many companies are enormously investing in the research and development activities in the softgel capsules segment. Not only gelatin but as the general population is shifting towards veganism, these companies are manufacturing non-animal-based softgel capsules. For instance, major firms like Catalent, Eurocaps, and many others are introducing vegan capsules to increase their vegan consumer base. This is thus increasing the demand for softgel capsules across nutraceutical, pharmaceutical and cosmeceutical sectors.
However, one of the biggest challenges for the global softgel capsules market is that many key pharmaceutical companies might lose their patent, because of which many initial developers or generic companies may take advantage of this reapproval process and launch their low-priced version in the market.
Asia Pacific region is expected to rise at a significant rate in the global softgel capsules market over the forthcoming years. The increasing number of generic medicine manufacturers majorly across India and China, and other emerging economies acts as a catalyzing factor for the market growth. Additionally, escalating demand for pocket-friendly therapeutics and therefore the increasing number of contract manufacturing enterprises are the further factors that are commanding the high market growth. Furthermore, the growing healthcare expenditure for maintaining health & fitness and penetration of the high-tech processing for fostering the manufacturing of softgels capsules also, are anticipated to invigorate the market demand. Therefore, rising investments in health & wellness products by the governments also create lucrative opportunities for market growth within the near future.
The prominent players operating in the global softgel capsules market are Fuji Capsules Co Ltd., Capsugel Ltd., Soft Gel Technologies Inc., Captek Softgel International Inc., Cloverty, Delpharm SAS, Catalent Inc., Aenova Group GmbH, Patheon, and Eurocaps Ltd. among other.