Pune, India, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The global softgel capsules market size was valued at USD 6.72 billion in 2022 and is expected to be worth USD 7.07 billion in 2023. The market is projected to reach USD 10.49 billion by 2030, recording a CAGR of 5.8% during the forecast period.
Softgel capsules refers to a solid capsule that contains a liquid or semi-solid center and is consumed orally to fight several mild as well as chronic diseases. These capsules are made from gelatin, water, opacifiers, and plasticizers, such as glycerin or sorbitol. The growing incidence of acute ailments across the globe is one of the key factors driving the softgel capsules market growth.
Fortune Business Insights™ displays this information in a report titled, "Softgel Capsules Market, 2023-2030."
Notable Industry Development:
October 2022: The Aenova Group partnered with Microcaps to accelerate and improve the development and production of pharmaceuticals, food supplements, and numerous other products.
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Key Takeaways:
- The growth of the softgel capsules market is being driven by the increasing demand for health supplements, the rising prevalence of chronic diseases, and the technological advancements in softgel capsule manufacturing.
- The softgel capsules market is segmented by type, application, and region.
- The key players in the softgel capsules market are Catalent, Inc., Lonza Group AG, ACG Capsules, Capsugel, and Softgel Technologies.
- These companies are investing in research and development, new product development, and capacity expansion to maintain their competitive edge in the market.
- The softgel capsules market is facing challenges, such as the rising cost of raw materials, the increasing competition from other dosage forms, and the need for more stringent regulatory compliance.
Discover the Leading Players Featured in the Report:
Major players in the softgel capsules market are Capsugel (Lonza) (U.S.), Sirio Pharma Co., Ltd. (China), Catalent, Inc. (U.S.), Aenova Holding GmbH (Germany), Fuji Capsule Co., Ltd. (Japan), CAPTEK Softgel International Inc. (U.S.), Curtis Health Caps (Poland) EuroCaps Ltd (U.K.).
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 5.8% |
| 2030 Value Projection | USD 10.49 Billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 7.07 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 216 |
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Drivers and Restraints:
Growing Number of Clinical Trials Support Product Consumption to Boost Market Progress
The number of clinical trials that are studying the efficacy of soft gelatin capsules in tackling the symptoms of various diseases is increasing at a notable pace. Many companies are experimenting by creating combinations of capsules, which can help them understand their effectiveness in treating chronic ailments, such as cancer. Such initiatives are expected to fuel the market growth.
However, the risk of losing patent ownership of major drugs due to its expiration can incur severe losses for pharma companies, which might negatively impact market development.
Report Scope & Segmentation:
By Type
- Gelatin Capsules
- Non-animal Softgel Capsules
- Starches
- Pullulan
- Others
By Application
- Prescription Medicines
- Health & Dietary Supplements
By Manufacturers
- Pharmaceutical Companies
- Nutraceutical Companies
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Gelatin Capsules to be Widely Demanded Due to Rising Investments in R&D
Based on type, the market is segmented into gelatin capsules and non-animal softgel capsules. The gelatin capsules segment is expected to dominate the market throughout the forecast period as more pharma companies are increasing their investments in research & development activities to produce effective capsules.
Demand for Health & Dietary Supplements Was on Rise Due to Their Efficacy in Treating Diseases
Based on application, the market is categorized into prescription drugs and health & dietary supplements. The health & dietary supplements segment dominated the market as these supplements are witnessing a strong rise in their sales due to their ability to treat many diseases.
Increased Production by Pharma Companies Boosted Product Sales
In terms of manufacturers, the market is divided into pharmaceutical companies, nutraceutical companies, and others. The pharmaceutical companies segment captured the maximum softgel capsules market share in 2022 as these firms have considerably increased the production of these capsules in recent years.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report has a detailed analysis of many factors that are helping the softgel capsules market grow. It has provided valuable information on the drivers, trends, threats, opportunities, and restraints that can help key stakeholders gain an in-depth understanding of the market. The report also gives detailed insights into the market’s key players and their strategies for expansion.
Regional Insights:
North America to Dominate Market Due to Launch of Novel Products by Key Market Players
North America held a dominant position in the global softgel capsules market as more key market players are launching a wide range of novel softgel capsules in the developed countries of the region. These companies are also trying to get approvals from the U.S. FDA and other regulatory bodies to expand their regional customer base.
Europe also recorded high revenue in the global market in 2022 due to the rising investments in research & development programs to develop gelatin-based capsules.
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Competitive Landscape:
Leading Companies to Strengthen Market Presence Through Bestselling Products and Pipeline Candidates
The market has a consolidated competitive landscape, with three companies holding dominant positions. Catalent, Inc. and Capsugel (Lonza) are closely competing with each other. The presence of a strong portfolio of bestselling products and pipeline candidates are helping these companies cement their market positions.
FAQ’s
How Big Is The Softgel Capsules Market?
Softgel Capsules Market size Is USD 7.07 Billion in 2023.
How Fast the Softgel Capsules Market Growing?
The Softgel Capsules Market will exhibit a CAGR of 5.8% during the forecast period, 2023-2030
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