Portland, OR, Oct. 20, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Softgel Capsules Market generated $4.4 billion in 2021 and is estimated to hit $7.5 billion by 2031, registering a CAGR of 5.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Market Size in 2031 | $7.5 billion |
| CAGR | 5.4% |
| No. of Pages in Report | 265 |
| Drivers | Increase in R&D activities to support usage of softgel capsules |
| Surge in demand for softgel health supplements | |
| Rise in consumer awareness related to preventative healthcare | |
| Rapid development of the e-commerce industry | |
| Increase in government expenditure on healthcare | |
| Rise in geriatric population | |
| Proliferation of distribution channels | |
| Opportunities | High growth potential in emerging markets |
| Growth in vegan population | |
| Restraints | High cost of softgel capsules |
Covid-19 scenario-
- The global softgel capsules industry experienced a decline in 2020, due to the global economic recession led by COVID-19. Moreover, the pandemic disrupted the supply chain across various end-user industries like food & beverage and healthcare.
- However, the market witnessed recovery in 2021, due to increase in self-care and increase in adoption of softgel health supplements to improve immune system during the pandemic.
- In 2021, sales of these supplements increased which drove the growth of the market. The trend is expected to continue in the future and the market is expected to show stable growth during the forecast period.
The report offers a detailed segmentation of the global softgel capsules market based on type, application, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the gelatin softgel capsules segment accounted for nearly 90% of the overall softgel capsules market in 2021, and is projected to lead the trail by the end of 2031. However, the non-gelatin softgel capsules segment is likely to portray a CAGR of 7.6% during the forecast period.
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Based on application, the health supplements segment contributed to nearly half of the global softgel capsules market in 2021, and is expected to maintain its dominance through 2031. However, the pharmaceuticals segment is likely to garner the fastest CAGR of 5.8% during the forecast period. The report also discusses the cosmetics segment.
Based on distribution channel, the pharmacies and drug stores segment captured the largest share of more than half of the global softgel capsules market in 2021, and is likely to exhibit a noteworthy growth during the forecast period. However, the online providers segment is expected to display a CAGR of 6.9% during the forecast period. The report also analyzes the supermarkets and hypermarkets segments.
Based on region, the market across North America contributed to more than two-fifths of the total softgel capsules market in 2021, and is expected to maintain its dominance during the forecast period. However, Asia-Pacific would grow at the fastest CAGR of 6.9% from 2022 to 2031. The other two provinces discussed in the report include Europe and LAMEA.
The key market players analyzed in the global softgel capsules market report include Aenova Group, Best Formulations, Inc., Captek Softgel International, Inc., Catalant,Inc., DCC Plc. (Eurocaps), Procaps Groups, Robinson Pharma, Inc., Lyfe Group (Caps Canada), Sirio Pharma Co. (Ayanda), and Thermofisher Scientific, Inc. (Patheon).
The report analyzes these key players of the global softgel capsules market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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