Global Softgel Capsule Market Application Positively Influenced by the Growing Pharmaceutical Industry
The global softgel capsules market size is estimated to reach USD 13.10 billion at a CAGR of 7.9% duriing forecast period 2022-2030
Soft gel capsules are used to encapsulate liquid or semi-liquid active ingredients for a wide range of pharmaceutical compounds. The market for soft gel capsules are expected to grow due to its easy manufacturing process, and the growing demand for nutraceutical products such as nutritional supplements among the health-conscious population. The growing number of pharmaceutical market players is also expected to create lucrative opportunities and increase the demand for soft gel capsules, thus contributing to the exponential growth over the forecast period.
Softgel Capsule Market – Regional Analysis
North America leads the global softgel capsule market, accounting for the largest market share. The well-developed status and the highest GDP, worldwide, allows the North American region to hold an edge over other regions in terms of aspect, including technology and healthcare. Owing to the burgeoning precision medicines market, the region would retain its leading position throughout the forecast period.
Large technological advancements in the field of medical technology that has shifted the traditional manufacturing approach in the pharmaceutical industry to more customized manufacturing approach are supporting the growth of the market. Moreover, the presence of a well-established pharmaceutical sector and a massive pool of health-conscious consumers drive the regional market growth.
The softgel capsule market in the European region stands as the second-largest one on a global scale. The resurging economy in the region is playing an important role in the development of the market, allowing increased access to healthcare. Germany, heading with its advanced technology, contributes to the growth of the regional market hugely. Furthermore, the UK and France with the increasing investment in personalized medicines and pharmaceutical industry drive the regional softgel capsule market at a large scale.
The Asia Pacific softgel capsule market is emerging as a promising market, globally led by the rapidly improving economic conditions in the region. Besides, factors, such as substantial technological advancements, the burgeoning pharmaceutical industry, and rising demand for softgel capsules, foster the regional market growth.
Furthermore, a huge patient population that dictates the demand for quality healthcare in the rapidly developing countries, such as China, Japan, South Korea, and India, are expected to lead the market growth in the APAC region. China represents the largest share in the regional market, witnessing a sharp rise in sales of softgel capsules.
Segmental Analysis
The global Softgel Capsule Manufacturing has been segmented based on type and application.
Based on type, the soft gel capsule market is segmented into gelatin type and non-animal type. The gelatin type segment is expected to grow as the largest market share, owing to their easy-to-use features for the administration of drugs orally or with the use of inhalation routes. The non-animal types segment is projected to witness a comparatively higher CAGR during the forecast period.
On the basis of application, the softgel market has been segmented into nutrition, supplement, and vitamins. The vitamins segment is expected to contribute to more than 30% of the market share during the forecast period, owing to the increased prevalence of vitamin deficiency, which is expected to fuel the growth of the segment. The nutrition segment is expected to exhibit the highest CAGR over the forecast period, owing to the high malnutrition rate underdeveloped and developing countries, leading governments to initiate awareness programs and subsidies products.
Key Players
Amway, Capsugel (a part of Lonza), Captek softgel International Inc., Catalent, Inc., EuroCaps Ltd. (part of the DCC plc Group), International Vitamin Corporation, Patheon (part of Thermo fisher scientific), Sirio Pharma Co. Ltd., Soft Gel Technologies, Inc., Strides Pharma Science Limited, Weihai Baihe Biology Technological Co. Ltd.
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