Number of pages: 100 | Report Format: PDF | Published date: 26 July, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global softgel capsules market was pegged at ~US$ 7.4 billion in 2021 and is expected to witness a CAGR of 7.6% during the forecast period.
Softgel capsules are an oral medication that is either made of gelatin or is non-animal based. These have liquid or semi-solid fillings that are used to deliver medicinal substances or nutritional substances and are preferred by consumers due to their easy-to-swallow features.
The increasing prevalence of chronic diseases, such as cardiovascular diseases, diabetes as well as the growing number of clinical trials for the softgel capsules, are driving the market demand. Additionally, as gelatin is the main ingredient needed to create softgel capsules, an increase in gelatin manufacturing directly affects the sector's expansion. The industry's expansion in the ensuing years will also be fueled by increased R&D expenditures by the top firms in the sector and a population that is moving more and more toward natural products. Its ease of consumption, flavor masking, improved absorption, non-reactivity, aesthetically pleasant character, and longer shelf life, all contribute to its broad popularity. Traditional capsules now have more features due to the improvements in manufacturing technology and the introduction of new materials, such as controlled drug release, tamper-evident packaging, and formulation choice of potent APIS due to reduced stomach pH degradation, appealing aesthetics, and longer shelf life.
However, patent expiration and generic competition are pharmaceutical companies' biggest challenges. The entry of generics into the market is tough competition and thus this affects the market growth.
The global softgel capsules market has been analyzed from four perspectives: type, application, manufacturer, and region.
Softgel Capsules Market by Type
Gelatin and non-animal capsules are two categories of softgel capsules based on type. Due to its unparalleled advantages over other substances, manufacturers prefer gelatin as their preferred active substance. Its widespread market acceptability is due to its simple digestion, tamper-evident capsule production, high mechanical resistance and seal quality, patient compliance, plentiful resource availability, and inert and clean label raw material. Due to their distinct qualities, producers are now creating capsules that combine bovine and porcine gelatin. Bovine gelatin improved the stiffness of the capsules, whereas porcine gelatin gives the formulation qualities of fluidity and clarity.
Despite the benefits of capsules made of gelatin, non-animal-based capsules displayed a strong growth rate during the forecast period. The market is projected to rise because of rising consumer adoption among vegetarians and expanding research by top industry competitors.
Softgel Capsules Market by Application
Softgel capsules are segmented into health and dietary supplements and prescribed medicines, which are further divided into anti-inflammatory drugs, antibiotic drugs, antacid & anti-flatulent preparations, and anti-anemic preparations. The vitamins and dietary supplements segment accounted for the largest share. When vitamins are made into tablets or candies, they are more susceptible to air oxidation and deterioration. As a result, softgel capsules are the optimum formulation choice since they provide protection from oxidation and UV radiation, extending the shelf life of the product. According to studies, vitamins taken as softgel capsules enter the bloodstream more quickly than those taken as tablets. Due to these benefits, vitamins are typically sold in the form of softgel capsules, indicating a sizable market in the application category. Due to the general public's growing embrace of a healthy lifestyle, health supplements took the second spot in the application area.
Softgel Capsules Market by Manufacturer
Manufacturers for softgel capsules can be nutraceuticals, pharmaceuticals, and cosmeceuticals. The nutraceutical segment holds the largest market share. Nutraceutical businesses in particular awareness of growing vitamins, minerals, and fitness supplements. Thus, softgel formula is basically evolved to maintain up with the growing want for nutraceutical merchandise. The pharmaceutical segment, however, has captured the second biggest percentage in this phase because of an extended collaboration with SMEs and outsourcing of softgel capsules, which without delay inspired the boom of the Contract Manufacturing Organization (CMO) phase. The demand for high aesthetics has surged the softgel tablet manufacturing in the cosmeceuticals market.
Softgel Capsules Market by Region
North America accounts for the biggest proportion of the global softgel capsules market. Improved manufacturing technology, presence of important players in the region, and multiplied expenditure on R&D to widen their product portfolio. Additionally, the presence of health-conscious consumers and the presence of pharma leaders in the region, are the main elements responsible for the large marketplace proportion. However, Asia Pacific is anticipated to observe considerable growth in the forecast years. The significant presence of accepted medicinal drug producers in China and India, growing call for cost-efficient therapeutics, and the upward thrust in production agreements between corporations in the region, are elements responsible for its excessive growth.
The prominent players operating in the global softgel capsules market are