The global softgel capsules market gathered revenue around USD 6.9 billion in 2021 and market is set to grow USD 13.4 billion by the end of 2030 and is estimated to expand at a modest CAGR of 10.2% during the prediction period 2022 to 2030.
Ease of swallowing, odor and taste masking, improved absorption, enhanced bioavailability, high atmospheric stability are some of the advantages of softgel capsules. Advancement in manufacturing technology and introduction of new materials has added more features to the traditional capsules such as controlled drug release, tamper-evident, and formulation choice of potent APIS due to reduced degradation in stomach pH, appealing aesthetics, and longer shelf life.
In recent times, softgel manufacturers are focusing on developing non-gelatin-based capsules using plant-based polymers. Starch, HPMC, and gums such as Pullulan. Gelatin-free capsules satisfy the medicinal needs of vegetarians. Technical benefits of manufacturers and suppliers, and reduced animal stock waste is the leading advantage of non-gelatin-based capsules. Additionally, vegetable capsule launch by a company like Aenova, increased their sales revenue by a double-digit percentage.
Softgel capsules are proven to be the choice of formulation for poorly soluble drugs and enhance absorption time of most drug molecules. Its advantages over tablets and other oral formulations have led to the increased adoption of softgel capsules across the globe. Ease of swallowing, taste masking, improved bioavailability, non-reactive, aesthetically appealing, and longer shelf life are the factors influencing its wide acceptance.
Leading players like Catalent, Eurocaps, and many others, are developing vegan capsules to broaden their vegan consumer base as softgel capsule segment registers nearly 40.0% of their overall revenue. Large Pharma companies like Pfizer, Novartis, Bayer, Procter and Gamble, collaborate with leading Contract Manufacturing Organizations (CMOs) to provide cost-effective products in the highly competitive market. Research to develop oral vaccines to treat respiratory infection caused by the SaRS-CoV-2 virus has fueled the R&D of softgel manufacturers.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Softgel capsules market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Softgel capsules market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
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COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Softgel capsules market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America dominated the market and accounted for the largest revenue share of 31.1% in 2021. Improved production technology, presence of major players within the region, and increased 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 leading factors responsible for the largest market share. However, APAC is established to be the fastest-growing market at a CAGR of 10.1%. The enormous presence of generic medicine manufacturers in China and India, increasing demand for cost-efficient therapeutics, rapidly growing economical conditions, and rise in contract manufacturing organizations within the region, are factors responsible for its high growth. The rise in personalized medicine expenditure and adoption of high-tech processing to improve the production of softgels, is likely to boost the market in Europe.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Softgel capsules Market include: Fuji Capsules Co Ltd.; Sirio Pharma; Captek; Patheon; Catalent; Eurocaps; Aenova; Capsugel; Procaps Laboratories; Soft gel Technologies Inc.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
Middle East & Africa (MEA)
Highlights of the Report:
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Softgel capsules market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Softgel capsules market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Softgel capsules markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Softgel capsules Market Study: