Softgel capsules are popular dosage forms that are increasingly becoming the preferred choice for natural medicines, dietary supplements, and nutraceutical formulations. Softgel capsules offer numerous advantages like enhanced absorption, better bioavailability, ease of swallowing, and excellent protection of sensitive ingredients from moisture, oxygen, and light. Softgel capsules are popularly used to encapsulate vitamins, fish oil, probiotics, herb/plant extracts, and other sensitive ingredients and supplements.
The Global Softgel Capsule Market is estimated to be valued at US$ 7849.85 Mn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Softgel Capsule market are Catalent, Inc., Aenova Group GmbH, Sirio Pharma Company Ltd, Captek Softgel International Inc., Elnova Pharma, Fuji Capsule Co., Ltd., Capsugel, EuroCaps Ltd, Guangdong Yichao Biological Co., Ltd., Hunan ER-KANG Pharmaceutical Co Ltd, KD Pharma Group, United Laboratories, Soft Gel Technologies, Inc., Windzor Pharma Ltd, ZYUS Life Sciences Inc., and EuroCaps.
The growing Softgel Capsule Market Demand for natural medicines and high adoption of dietary supplements are some of the key factors driving the growth of the global softgel capsule market. With rising health concerns and prevalence of lifestyle diseases, people are increasingly relying on supplements to boost immunity, lose weight, gain muscle mass, improve joint health, and manage chronic conditions like diabetes.
The global softgel capsule market is witnessing robust growth across regions. North America and Europe hold significant market shares. However, the softgel capsule market is rapidly expanding in developing regions like Asia Pacific and Latin America at a higher growth rate due to increasing disposable incomes, growing middle-class population, rising health awareness, and penetration of international supplement brands.
Market Key Trends
One of the key trends gaining traction in the softgel capsule market is the demand for vegan softgels. With surging vegan population worldwide, pharmaceutical companies and supplement brands are introducing vegetarian and vegan-friendly softgel varieties made from plant-derivatives instead of animal-based gelatin. Another notable trend is the growing popularity of softgel capsules for cannabis/CBD infusions. As more countries legalize medical and recreational cannabis, softgels are becoming a preferred platform for delivering the benefits of cannabis and hemp extracts in a convenient and precise dosage form. Technological advancements allowing high-volume production of softgels are further supporting the market growth.
Porter's Analysis
Threat of new entrants: New players find it difficult to enter the market due to high manufacturing costs and stringent regulations related to capsules manufacturing.
Bargaining power of buyers: Large buyers have significant bargaining power due to availability of substitutes like conventional capsules.
Bargaining power of suppliers: Few manufacturers have control over raw material supply which gives them bargaining power against capsule manufacturers.
Threat of new substitutes: Threat from substitutes like conventional capsules is moderate as softgels offer benefits like easy swallowing and accurate dosing.
Competitive rivalry: Intense competition exists between major players to gain higher market share.
Geographical Regions
North America accounted for the highest softgel capsules market share in terms value due to increasing consumption of dietary supplements and nutraceuticals in the region. The growth in the region is mainly driven by rising health consciousness among consumers and growing adoption of capsule encapsulation technology for drug delivery.
Asia Pacific is expected to witness the fastest growth during the forecast period due to expanding pharmaceutical manufacturing industries in countries like India and China. Rapid urbanization, rising disposable incomes and growing medical tourism industry in Asia Pacific are contributing to the regional market growth.
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