June 25, 2024

Softgel Capsules Market Size to Touch USD 17.19 Billion by 2033

The global softgel capsules market size accounted for USD 8.71 billion in 2023 and is projected to grow around USD 17.19 billion by 2033 with a CAGR of 7.03% from 2024 to 2033.

Key Points

  • North America led the market with the largest market share of 43% in 2023.
  • By type, the gelatin-based/animal-based segment has accounted biggest market share in 2023.
  • By application, the vitamins and dietary supplements segment held the largest share of the market in 2023.
  • By end-use, the nutraceutical companies segment has contributed more than 38% of market share in 2023.

Softgel Capsules Market Size 2024 to 2033

Softgel capsules, a popular dosage form in the pharmaceutical and nutraceutical industries, have witnessed significant growth in recent years. These capsules are made of gelatin or other polymers and contain a liquid or semi-solid fill. They are widely preferred due to their ease of swallowing, enhanced bioavailability, and improved stability of encapsulated ingredients. The global softgel capsules market has experienced robust expansion driven by increasing demand for dietary supplements, vitamins, and pharmaceutical drugs. Manufacturers continue to innovate by introducing advanced technologies and formulations to meet consumer preferences and regulatory standards.

Growth Factors

Several factors contribute to the growth of the softgel capsules market. One significant driver is the rising consumer inclination towards self-medication and preventive healthcare practices. Softgel capsules offer a convenient and efficient way to administer supplements and medications, fueling their demand among health-conscious consumers. Additionally, the aging population worldwide has led to a growing need for dietary supplements and pharmaceutical products, further propelling the market growth. Moreover, the expanding pharmaceutical and nutraceutical industries, coupled with advancements in manufacturing processes, are driving the production and adoption of softgel capsules globally.

Region Insight

The softgel capsules market exhibits a global presence, with key regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominates the market owing to the high consumption of dietary supplements and pharmaceuticals in the region. Europe follows closely, driven by the presence of established pharmaceutical companies and increasing consumer awareness regarding health and wellness. The Asia Pacific region emerges as a lucrative market due to its rapidly growing population, rising disposable income, and expanding pharmaceutical and nutraceutical sectors.

Softgel Capsules Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 7.03%
Global Market Size in 2023 USD 8.71 Billion
Global Market Size by 2033 USD 17.19 Billion
U.S. Market Size in 2023 USD 2.81 Billion
U.S. Market Size by 2033 USD 5.54 Billion
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Type, By Application, and By End-use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Softgel Capsules Market Dynamics

Drivers

Several drivers contribute to the growth of the softgel capsules market. One of the primary drivers is the increasing prevalence of chronic diseases and health conditions, prompting individuals to seek convenient and effective treatment options. Softgel capsules offer a reliable delivery mechanism for various medications and supplements, driving their adoption among healthcare providers and consumers alike. Additionally, advancements in capsule formulation technologies, such as improved encapsulation techniques and enhanced ingredient stability, further stimulate market growth. Moreover, the expanding geriatric population, coupled with rising healthcare expenditure, fuels the demand for pharmaceuticals and dietary supplements encapsulated in softgel capsules.

Restraints

Despite the significant growth prospects, the softgel capsules market faces certain restraints that may hinder its expansion. One such restraint is the availability of alternative dosage forms, such as tablets, powders, and liquids, which offer similar benefits and may compete with softgel capsules in the market. Additionally, concerns regarding the use of gelatin, a common ingredient in softgel capsules, among vegetarian and vegan consumers pose a challenge to market growth. Moreover, stringent regulatory requirements and quality standards imposed by regulatory authorities may increase manufacturing costs and hinder market entry for small and medium-sized enterprises.

Opportunities

Despite the challenges, the softgel capsules market presents numerous opportunities for growth and innovation. One significant opportunity lies in expanding the product portfolio to include niche therapeutic areas and specialized formulations, catering to specific consumer needs and preferences. Moreover, increasing focus on personalized medicine and customized dosage forms opens avenues for the development of tailored softgel capsules containing precise doses of active ingredients. Furthermore, strategic partnerships and collaborations between pharmaceutical companies, contract manufacturers, and research institutions can accelerate product development and market penetration. Additionally, the emergence of novel materials and technologies, such as plant-based polymers and advanced encapsulation techniques, offers opportunities for differentiation and competitive advantage in the market.

Read Also: Smart Home Healthcare Market Size Attain USD 212.55 Bn by 2033

Recent Developments

  • In May 2022, the launch of SOLFEROL Softgel Capsules, a line of reimbursed vitamin D3 medications, for the treatment of vitamin D insufficiency was announced by Windzor Pharma Ireland Ltd. This product has the broadest array of presentations available on the market, with two distinct strengths: 400 IU for treating expectant and nursing mothers and 20,000 IU for those with severe vitamin D3 deficiency.
  • In December 2023, Amneal Pharmaceuticals and Strides Pharma Science Limited announced the launch of Icosapent ethyl acid soft gel capsules, a product that refers VASCEPA. Strides, a multinational pharmaceutical producer, has granted an in-license for the medicine, which Amneal will begin marketing in the fourth quarter of 2023. An ethyl ester of eicosapentaenoic acid (EPA), isicosapent ethyl acid soft gel capsules, 0.5g and 1g, are recommended as a dietary supplement to lower triglyceride levels in adult patients with severe (≥ 500 mg/dL) hypertriglyceridemia.

Softgel Capsules Market Players

  • CAPTEK Softgel International Inc.
  • Sirio Pharma Co., Ltd.
  • Fuji Capsule
  • Thermo Fisher Scientific Inc.
  • EyePoint Pharmaceuticals, Inc.
  • EuroCaps
  • Catalent, Inc.
  • Aenova Group
  • ProCaps Laboratories, LLC
  • Lonza Capsules & Health Ingredientss
  • Soft Gel Technologies, Inc.

Segments Covered in the Report

By Type

  • Non-Animal-Based
  • Gelatin-Based/Animal-Based

By Application

  • Anti-Inflammatory Drugs
  • Antacid and Anti-Flatulent Preparation
  • Antibiotic and Antibacterial Drugs
  • Cough and Cold Preparations
  • Anti-Anemic Preparations
  • Vitamin and Dietary Supplement
  • Health Supplement
  • Pregnancy

By End-use

  • Cosmeceutical Companies
  • Nutraceutical Companies
  • Pharmaceutical Companies
  • Contract Manufacturing Organizations

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

 


Prathamesh

Leave a Reply

Your email address will not be published. Required fields are marked *