Dublin, March 24, 2022 (GLOBE NEWSWIRE) -- The "Vegetarian Softgel Capsules Market by Material, Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global vegetarian softgel capsules market was valued at $527.28 million in 2020 and is projected to reach $824.39 million by 2030 registering a CAGR of 4.6% from 2021 to 2030.
Vegetarian softgel capsules are oral dosage of medicines and nutritional supplements delivered in the form of capsules. They are made from starch, pullulan, and cellulose (Hydroxypropyl Methylcellulose). These capsules are a durable, stable, and viable substitute for animal gelatin and are available in a wide range of colors, shapes, fill materials, & sizes.
These comprise an outer shell that is solid, and an inner shell that contains an active ingredient, which is of liquid or semi-solid materials. Vegetarian softgel capsules do not contain gluten or modified sugar. They are chemically stable and conceal the taste and odor of the ingredients inside.
The main factor that drives the growth of the vegetarian softgel capsules market includes surge in vegan population. In addition, availability of natural raw materials for the formulation of vegetarian softgel capsules boost the growth of the market. Furthermore, increase in adoption of vegetarian softgel capsules owing to its advantages and application, fuels the growth of the market.
Conversely, high manufacturing cost of vegetarian softgel capsules owing to their specialized raw material and production processes are expected to limit the growth of the market during the forecast years.
On the other hand, surge in innovations in the pharmaceutical industry for the production of softgel capsule owing to massive pool of health-conscious consumers are expected to offer profitable opportunities for the growth of the market during the forecast period.
MARKET DYNAMICS
Drivers
- Growth in vegan population
- Availability of natural raw materials
- Increase in adoption of vegetarian softgel capsules
Restraint
- High cost of vegetarian softgel capsules
Opportunity
- Growth in innovations in the pharmaceutical industry
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- Aenova Group
- Best Formulations, Inc.
- Captek Softgel International, Inc.
- Catalent Inc.
- DCC Plc. (EuroCaps)
- DuPont de Nemours, Inc.
- Lyfe Group (Caps Canada)
- Procaps Group
- Robinson Pharma Inc.
- Sirio Pharma Co. (Ayanda)
KEY MARKET SEGMENTS
By Material
- Starch
- Cellulose
- Pullula
By Application
- Pharmaceuticals
- Health Supplements
- Cosmetic
By Distribution Channel
- Hospital Pharmacy
- Retail Stores & Pharmacy
- Online Provider
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAME
For more information about this report visit https://www.researchandmarkets.com/r/vnfve4
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