New York, US, May 23, 2022 (GLOBE NEWSWIRE) -- Softgel Capsule Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Softgel Capsule Market Information By Application, Type, and Region- Global Forecast till 2030”, the market is estimated to flourish at a healthy CAGR of over 5.3% during the assessment timeframe. The report further predicts that the market will acquire a size of over USD 11050.11 Million by the end of 2030.
Market Scope:
A softgel refers to an oral dosage form for medicine in the form of a specific capsule. They comprise a gelatin-based shell surrounding a liquid fill. Softgel shells blend opacifier, water, gelatin, and a plasticizer such as sorbitol and glycerin. Softgels are made in a process called encapsulation using the Rotary Die Encapsulation process concocted by Robert Pauli Scherer. The encapsulation process has been defined as a seal/ fill/form process. Two flat ribbons of shell material are produced on the machine and brought together on a twin set of rotating dies. Once the encapsulation is done, the softgels are dried for almost two days to two weeks, depending on the product.
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Competitive Analysis
The global market for softgel capsules has prominent players such as:
- Amway
- International Vitamin Corporation
- Weihai Baihe Biology Technological Co. Ltd.
- Soft Gel Technologies, Inc.
- Patheon (part of Thermo fisher scientific)
- Sirio Pharma Co. Ltd.
- Catalent, Inc.
- Strides Pharma Science Limited
- Captek softgel International Inc.
- EuroCaps Ltd. (part of the DCC plc Group)
- Capsugel (a part of lonza)
Market USP Covered
Market Drivers
The global softgel capsules market has witnessed a massive surge in the growth rate over the last few years. The major aspect causing an upsurge in the market's growth is the rising health-conscious population across the globe. Furthermore, factors such as increasing inclination towards sports, growing desire to be physically fit, ongoing development in the healthcare sector, and increasing competition in the pharmaceutical industry are also likely to boost the market's growth over the coming years.
Market Restraints
On the other hand, the fluctuations in the raw material prices are likely to impede the softgel capsules market's growth.
COVID-19 Impact
The global COVID-19 pandemic has had a major impact on most market sectors across the globe. Several countries across the faced partial or complete shutdowns in order to curb the spread of the disease. But in the case of the softgel capsule market, the impact is a bit different. Unlike other industry sectors, the pandemic caused a rise in the volume of the softgel capsules market in terms of revenues. The market faced a major decline in the demand at first as the major end use industries using softgel capsules, including pharmaceutical, nutraceutical, and cosmeceutical companies, had to face a major fall in the demand and disruptions in the overall supply chain. On the other hand, the increasing demand for supplements to boost immunity is considered a major aspect that is propelling the growth of the softgel capsules market across the globe. At present, the priority is to stop the spread of the virus, which is likely to lead to short-term sluggish growth of the softgel capsules market.
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Segment Analysis
The global market for softgel capsules has been fragmented into various segments based on type, application, and region.
Based on type, the global market for softgel capsules is split into the non-animal type and gelatin type. The gelatin segment is likely to attain a larger market share than the non-animal type segment. The segment is anticipated to attain a valuation of USD 2,242.08 million by the end of forecast period. However, the non-animal type segment is estimated to flourish at a CAGR of over 5.79% during the assessment era.
The global softgel capsule market is divided into vitamins, supplements, and nutrition based on application. Among all, the nutrition segment is likely to flourish at a healthy CAGR of over 5.98% during the assessment era. The segment's growth is mainly credited to the fast adoption of the sedentary lifestyle leading to numerous health conditions.
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Regional Analysis
The global softgel capsule market is studied across five major regions: Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa.
As per the MRFR analysis reports, the North American region will likely dominate the global softgel capsule market over the assessment timeframe. The regional market is likely to acquire a size of over USD 1,072.74 million by the end of forecast period. The report further predicts that the regional market will likely flourish at a healthy CAGR of over 6.2% during the assessment era. The regional market's growth is mainly attributed to the increasing contribution of key players across the region. Apart from that, the growing inclination toward fitness is anticipated to increase the demand for nutraceuticals and is also projected to catalyze the demand for softgel capsules across the region. The US is likely to be the leading revenue pocket across the region.
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The softgel capsule market for the Asia-Pacific is likely to be lucrative over the assessment timeframe. The MRFR analysis suggests that the regional market is likely to flourish at a healthy CAGR of over 6.04% during the review timeframe. The report further predicts that the regional market will acquire a significantly larger size of over USD 740.94 million during the forecast period. The regional market's growth is mainly credited to the increasing desire to be physically fit. Furthermore, the factors such as the increasing inclination toward sports, the ongoing technical development in the product, and the increasing investments in pharmaceuticals are also likely to catalyze the regional market's growth over the assessment timeframe. In addition, the presence of developing economies such as China and India is anticipated to play a vital part in growing the market in the region.
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