New York, Jan. 19, 2024 (GLOBE NEWSWIRE) -- Softgel capsules have been crafted using gelatin as the primary raw material. However, substantial investments in research and development, coupled with technological advancements, have ushered in the utilization of alternative sources for vegetarian softgel capsule production, streamlining manufacturing processes. The Global Softgel Capsules Market exhibited significant growth in the historical period, achieving a commendable CAGR of approximately 4.0%. By 2023, the market reached a valuation of US$ 611.8 Million.
softgel capsules market include pharmaceutical and nutraceutical companies entering long-term contracts with softgel capsule manufacturers, robust imports and exports across all regions, and strategic competitive pricing initiatives for large-scale procurement. The market is also witnessing an upsurge driven by health-conscious consumers' increasing preference for natural and eco-friendly products. Over 50 percent of consumers are willing to pay a premium for natural products, and nearly half are inclined to spend more on organic products, thus fueling the growth of the vegetarian softgel capsules segment, encompassing HPMC, starch, and pullulan softgel capsules.
Softgel capsules offer several advantages, including ease of swallowing, effective masking of odor and taste, enhanced absorption, improved bioavailability, and excellent atmospheric stability. With the continuous advancements in manufacturing technology and the introduction of new materials, traditional capsules have evolved to offer additional features such as controlled drug release, tamper-evident properties, and expanded options for potent API formulations. These advancements are driven by reduced degradation in stomach pH, attractive aesthetics, and extended shelf life, thereby providing a wider range of choices for pharmaceutical formulations.
Currently, there is a growing emphasis among softgel manufacturers on the creation of capsules that no longer rely on gelatin but instead utilize plant-based polymers such as starch, HPMC, and gums like Pullulan. The introduction of gelatin-free capsules caters to the specific medicinal needs of vegetarian individuals and also presents technical advantages for manufacturers and suppliers while contributing to reduced animal waste.
This shift represents a significant advancement in ethical and sustainable pharmaceutical practices. Notably, companies like Aenova Group have experienced substantial growth in sales revenue with the launch of vegetable capsule products. EuroCaps is also in the process of developing a chewable softgel capsule with improved taste-masking capabilities. Market leaders such as Catalent and Roquette are actively working on vegan capsules to expand their reach among the global vegan population.
Following the outbreak of the COVID-19 pandemic, many companies initiated research into oral vaccines. Leading softgel capsule manufacturer, Catalent, collaborated with a clinical-stage immunotherapy company to meet the urgent demand for oral vaccines. Additionally, studies explored the potential of vitamin D capsules in alleviating the severity of respiratory symptoms associated with COVID-19 infection. The pandemic had varying effects on the nutraceutical and pharmaceutical industries.
The nutraceutical sector experienced a surge in demand during this period, driven by increased consumption of vitamins, nutrients, and health supplements. Growing nutraceutical companies introduced innovative capsule designs, while the adoption of vegan and vegetarian capsule options contributed to the rising demand for nutraceuticals. The vitamin capsule market saw increased demand due to a shift towards healthier lifestyles, particularly among the elderly population.
Moreover, the market witnessed significant sales growth during the pandemic. Ongoing research efforts aimed at developing capsules for potent and complex drug molecules to address bioavailability challenges, along with the formulation of capsules for drugs requiring multiple excipients such as oncology medications, have positively influenced market expansion. Patient preferences for capsules as a preferred oral dosage form have further fueled market growth.
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Softgel Capsules Market Report Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 611.8 Million | |
| Estimated Revenue 2033 | US$ 932.1 Million | |
| Growth Rate – CAGR | 4.3% | |
| Forecast Period | 2023-2033 | |
| No. of Pages | 300Pages | |
Key Market Segments Covered |
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Regions Covered |
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Key Companies Profiled |
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Softgel Capsules :Market Dynamics
Drivers:
Softgel capsules offer a versatile and efficient method for delivering both liquid and solid ingredients, including vitamins, oils, and pharmaceutical drugs, with superior bioavailability and protection against moisture and oxygen, increasing their shelf life and patient compliance.
Rising health concerns have led to a growing demand for natural ingredients, driven by consumer perception that natural ingredients are healthier, and a heightened focus on ingredient labeling to avoid health issues associated with artificial additives.
Increasing emphasis on health, diabetes and obesity management, and the need for low-calorie diets are boosting the demand for fat and sugar replacers like gelatin, a natural source of protein considered healthy, especially in dietary supplements. The popularity of vegan and vegetarian diets, personalized dietary supplements, and advancements in softgel capsule technologies further drive this demand.
Restraints:
The production of softgel capsules can have environmental consequences, including waste generation, pollution from solvents and chemicals, and land and water pollution. The negative environmental impact is a growing concern among consumers and regulators, potentially hampering market growth.
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Opportunities:
Softgel capsules enable precise dosing and targeted drug delivery, catering to consumers' individual needs and preferences. Customization and personalization of softgel formulations can enhance consumer appeal, increase sales, and foster brand loyalty.
Challenges:
The increasing demand for gelatin across various industries, including pharmaceuticals, nutraceuticals, cosmetics, and leather, tanning, and paper production, has led to rising prices due to the limited availability of raw materials like bovine hide and pigskin. This supply-demand imbalance requires careful consideration of raw material supply to meet industry demands effectively.
Key Trends:
The Softgel Capsules Market is undergoing significant transformations marked by several key trends. Firstly, there is a notable shift towards vegetarian softgel capsules, incorporating sources like HPMC, starch, and pullulan, driven by the rising demand for natural and eco-friendly products among health-conscious consumers. This trend aligns with the broader movement towards sustainable and ethical pharmaceutical practices.
Secondly, industry players are increasingly focused on regional markets, offering regionally tailored softgel capsule options and forging partnerships with major suppliers and distributors. This approach aims to enhance market presence and cater to specific regional preferences and demands.
Furthermore, multinational companies, while substantial, represent a smaller share of the market, prompting them to expand globally. They are venturing into new regions, introducing innovative softgel capsule variants, and strengthening partnerships with end-use companies and contract manufacturers to maintain competitiveness and widen their global reach.
Another notable trend is the expansion of biologics capabilities within the industry. Companies are investing in facilities like the acquisition of manufacturing centers and innovation hubs to meet the growing demand for specialized softgel capsules, especially in the biologics sector.
Moreover, the market has witnessed the introduction of vegan alternative softgel capsule formulations. Leveraging technologies like pea starch, these capsules mimic the performance of traditional gelatin capsules while meeting the preferences of consumers seeking plant-based options.
Lastly, companies are enhancing their clinical trial services capabilities and accommodating high-potency compounds. This initiative aims to complement their existing offerings, adapting to the evolving needs of the pharmaceutical and nutraceutical industries.
These trends collectively reflect the dynamic nature of the softgel capsules market, characterized by a commitment to sustainability, innovation, and tailored solutions to meet consumer demands and industry requirements.
Competitive Landscape:
Leading players in the softgel capsules market, including Soft Gel Technologies, Inc., Renown Pharmaceuticals, Aenova Group GmbH, Celix Pharma, and Capsugel, among others, are actively targeting regional markets. They offer regionally tailored softgel capsule options or collaborate with major suppliers and distributors to bolster market expansion.
Multinational players, while significant, represent a relatively smaller portion of the softgel capsules market, accounting for approximately 15% of the market share. These global players are focused on extending their global presence by expanding operations into new regions, introducing innovative softgel capsule products, and strengthening partnerships with end-use companies and contract manufacturers.
In January 2023, Celix Pharma introduced its new softgel capsules, Bexarotene 75mg, in the U.K. These child-resistant capsules are packaged in HDPE bottles, each containing 100 capsules.
In April 2022, Catalent successfully acquired the Vaccine Manufacturing Innovation Centre in Oxfordshire, expanding its biologics capabilities across the United Kingdom and Europe.
In 2020, Roquette launched its new brand, Lycagel Premix, for vegan alternative softgel capsule formulations. Utilizing the company's pea starch technology, these capsules closely replicate the performance of gelatin capsules.
Capsugel expanded its capabilities for clinical trial services and high-potency compounds at its Edinburgh facility, complementing its existing offerings in Europe and the United States.
Recent Developments:
• In March 2023, Darlings Ingredients Inc. completed the acquisition of Gelnex, a global producer of gelatin and collagen products. This strategic acquisition positions the company to effectively meet the growing demands of its collagen customers while also continuing to serve the expanding gelatin market.
• In November 2022, PB Leiner formed a joint venture with D&D Participações Societárias. As part of this collaboration, D&D Participações Societárias acquired a minority stake in the shares of PB Leiner's Brazilian plant (PB Brasil Industria e Comercio de Gelatinas Ltda). This partnership leverages the strengths of both companies to offer a sustainable and premium range of beef hide gelatin products, building on PB Leiner's technology.
• In October 2022, PB Leiner expanded its gelwoRx Dsolve pharmaceutical portfolio by introducing three new products: Dsolve B, Dsolve P, and Dsolve xTRA. Specifically designed for reduced cross-linking and rapid dissolution of soft capsules, Dsolve P (derived from pig skin) and Dsolve B (derived from beef hide) cater to the unique needs of the pharmaceutical industry. Additionally, Dsolve xTRA (derived from bovine bone) offers enhanced performance compared to previous offerings, such as Dsolve, Dsolve P, and Dsolve B.
Category-Wise Insights
Which Type of Softgel Capsules Will Lead the Market?
Gelatin-based softgel capsules currently dominate the market, holding a significant share of approximately 72%. They are expected to maintain substantial growth at a rate exceeding 3.8% CAGR, surpassing the growth of vegetarian softgel capsules.
Manufacturers are increasingly employing a combination of bovine and porcine gelatin due to their distinct properties. Bovine gelatin enhances capsule stiffness, while porcine gelatin contributes to formulation clarity and plasticity. The widespread popularity of gelatin capsules is attributed to their easy digestibility, excellent mechanical strength and seal quality, tamper-evident capsule production capabilities, abundant availability of resources, and the use of neutral and clean-label raw materials.
Softgel Capsules Industry Research by Category
By Product Type:
- Gelatin Softgel Capsules
- Vegetarian Softgel Capsules
By Raw Material:
- Type-A Gelatin (Pork Skin)
- Type-B Gelatin (Animal Bones & Calf Skin)
- Fish Bone Gelatin
- Hydroxy Propyl Methyl Cellulose (HPMC)
- Starch Material
- Pullulan
By End User:
- Pharmaceutical Companies
- Nutraceutical Companies
- Cosmecutical Companies
- Contract Manufacturing Organizations
By Application:
- Antacid & Antiflatulent Preparations
- Antianemic Preparations (Hematenic Preparations)
- Anti-inflammatory Drugs
- Antibiotic & Antibacterial Drugs
- Cough & Cold Preparations
- Cardiovascular Therapy Drugs
- Health Supplements
- Vitamin & Dietary Supplements
- Other Therapeutic Applications
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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