February 13th, 2024

Softgel Capsules Market [2028]: Size, Share - Competitive Intelligence Report - TechSci Research

Softgel Capsules Market [2028]: Size, Share - Competitive Intelligence Report - TechSci Research

The global softgel capsules market is experiencing robust growth, driven by factors such as the wider range of formulations, increased consumer demand for transparent labeling, and the shift towards plant-based alternatives. According to the TechSci Research report titled "Softgel Capsules Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028," the market stood at USD 7.63 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.65% during the forecast period from 2024 to 2028. This comprehensive report provides valuable insights into the trends, drivers, challenges, and opportunities shaping the global softgel capsules market.

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Driving Forces Behind Market Growth

Versatility of Softgel Capsules

Softgel capsules have emerged as a preferred dosage form across various industries, including pharmaceuticals and nutraceuticals, owing to their versatility in accommodating a broad spectrum of formulations. From vitamins, minerals, and dietary supplements to prescription medications, softgel capsules offer a flexible and convenient delivery system. This adaptability has opened up diverse market opportunities for manufacturers, catering to the evolving needs of consumers.

Consumer Demand for Transparent Labeling

Consumers are increasingly discerning about the products they consume, demanding clear and transparent labeling that includes information about the source of ingredients, allergen content, and manufacturing processes. Manufacturers are responding to these demands by providing more detailed information on softgel capsule product labels. This transparency not only enhances consumer trust but also promotes informed decision-making regarding product choices.

Shift Towards Plant-Based Alternatives

In the realm of softgel manufacturing, there is a growing emphasis on creating capsules that do not rely on gelatin, an animal-derived ingredient traditionally used in capsule production. Instead, manufacturers are turning to plant-based polymers such as starch, hydroxypropyl methylcellulose (HPMC), and gums like Pullulan. These gelatin-free capsules cater to the specific medicinal needs of vegetarians while offering technical advantages for manufacturers and suppliers. Moreover, this shift aligns with ethical and sustainable pharmaceutical practices, contributing to reduced animal stock waste.

Industry Innovations and Research Initiatives

Development of Gelatin-Free Capsules

Companies like Aenova Group and EuroCaps are leading the charge in the development of gelatin-free capsules to meet the growing demand for vegetarian medication options. These companies have witnessed substantial increases in sales revenue by launching vegetable capsule products and exploring innovative formulations, such as chewable softgel capsules with enhanced taste masking abilities.

Response to the COVID-19 Pandemic

The onset of the COVID-19 pandemic prompted rapid research and development initiatives in the pharmaceutical industry, including the exploration of oral vaccines. Companies like Catalent, a prominent softgel capsule manufacturer, collaborated with leading immunotherapy companies to address the urgent demand for oral vaccines. Additionally, studies were conducted to assess whether softgel vitamin D capsules could alleviate the severity of respiratory discomfort associated with COVID-19 virus infection.

Impact on Nutraceutical Industry

The nutraceutical industry experienced a surge during the COVID-19 pandemic, driven by increased consumption of vitamins, nutrients, and health supplements. Emerging nutraceutical companies introduced innovative capsule designs, while the adoption of vegan and vegetarian capsules further boosted demand for nutraceutical products. The pandemic underscored the importance of maintaining overall health and immunity, leading to heightened demand for vitamin capsules, particularly among the aging population.

Market Segmentation and Analysis

The global softgel capsules market is segmented based on type, application, end use, regional distribution, and company. Understanding these segmentation factors is crucial for comprehensively analyzing market dynamics and identifying growth opportunities within specific segments.

Segment Analysis:

1. Type Segment: The gelatin-based or animal-based category emerged as the dominant force in the market in 2022, boasting the largest share of revenue. Gelatin has been the preferred choice for manufacturers for over 80 years due to its numerous advantages, including easy digestibility, tamper-proof capsule production, and patient compliance.

2. Application Segment: The vitamins and dietary supplements category claimed the largest share of revenue in 2022. Softgel capsules offer protection against UV radiation and oxidation, extending the shelf life of vitamins and ensuring rapid absorption into the bloodstream. The outbreak of the COVID-19 pandemic further accelerated the demand for vitamin supplements, particularly Vitamin C and D.

3. End Use Segment: The health supplements sector also witnessed significant growth in 2022, driven by increased adoption of a healthy lifestyle and a preference for tasteless medication. Pre- and post-natal softgel capsules and tasteless medication options contributed to the surge in softgel capsule sales, further enhancing market expansion.

Benefits of the Research Report

The TechSci Research report on the global softgel capsules market offers several benefits to stakeholders within the pharmaceutical and nutraceutical industries:

• Insightful Market Analysis: The report provides comprehensive insights into market trends, drivers, challenges, and opportunities, enabling stakeholders to make informed decisions and formulate effective strategies.

• Market Segmentation: By segmenting the market based on type, application, end use, and regional distribution, the report facilitates a detailed analysis of specific market segments, identifying growth opportunities and potential challenges.

• Competitive Landscape: The report includes a competitive analysis, identifying key players in the market and evaluating their strategies, strengths, and weaknesses. This information is invaluable for stakeholders seeking to gain a competitive edge in the market.

• Strategic Recommendations: Based on the analysis of market trends and competitive dynamics, the report offers strategic recommendations to stakeholders, helping them capitalize on emerging opportunities and navigate potential challenges effectively.

Competitive Analysis

A competitive analysis is essential for understanding the market landscape, identifying key players, and evaluating their strategies and offerings. Key players in the global softgel capsules market include Aenova Group, EuroCaps, Catalent, and Roquette, among others. These players compete based on factors such as product innovation, technological advancements, pricing strategies, and geographical presence.

The global softgel capsules market presents significant growth opportunities, driven by factors such as the versatility of softgel capsules, consumer demand for transparent labeling, and the shift towards plant-based alternatives. Industry innovations and research initiatives, coupled with market segmentation and analysis, provide valuable insights for stakeholders across the pharmaceutical and nutraceutical industries. The TechSci Research report serves as a comprehensive guide, offering insights into market trends, competitive dynamics, and strategic recommendations for stakeholders to navigate and capitalize on emerging opportunities in the global softgel capsules market.

Major companies operating in Global Softgel Capsules Market are:

• Fuji Capsule Co Ltd

• Sirio Pharma Co Ltd

• Captek Softgel International Inc

• Thermo Fisher Scientific Inc

• EyePoint Pharmaceuticals Inc

• Catalent Inc

• EuroCaps Ltd

• Aenova Group GmbH

• Lonza Group AG

• Soft Gel Technologies Inc

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“The global softgel capsules market is poised for continued growth and innovation. The adaptability and versatility of softgel capsules make them an ideal choice for a wide range of products, from pharmaceuticals to dietary supplements. As consumers seek convenient and effective delivery systems and demand more transparency in product information, softgel capsules are well-positioned to meet these evolving expectations. Additionally, advancements in drug delivery and the growth of personalized medicine are expanding the scope of the softgel capsules market, making it an exciting and dynamic industry to watch in the years to come,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Softgel Capsules Market By Type (Gelatin-Based/Animal-Based, Non-Animal-Based), By Application (Antacid and Anti-Flatulent Preparation, Anti-Anemic Preparations, Anti-Inflammatory Drugs, Antibiotic and Antibacterial Drugs, Cough and Cold Preparations, Health Supplement, Vitamin and Dietary Supplement, Pregnancy, Others), End Use (Pharmaceutical Companies, Nutraceutical Companies, Cosmeceutical Companies, Contract Manufacturing Organization), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Softgel Capsules Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Softgel Capsules Market.

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