ID: MRFR/HC/5998-CR | February 2019 | Region: Global | 101 pages
Global Softgel Capsule Market is predicted to attain the valuation of USD 3,276.00 Million while expanding at a CAGR of 5.46% during the forecast term from 2018 to 2023, evaluates Market Research Future (MRFR).
The outbreak of COVID-19 is believed to have brought a positive impact on the softgel capsule market volume. The growing demand for supplements to enhance immunity is recognized to be a salient cause that is projected to drive the market.
Expanding Health Conscious Population to Boost the Market Growth during the Analysis Tenure
The rising health-conscious population can be a substantial factor that is anticipated to strengthen the trade during the review term. The increasing inclination towards sports is expected to be another salient cause that is likely to develop the market. The rise in the number of gyms, marathons, and sports events are likely to grow the demand for such capsules. Besides, the growing desire to be physically fit is expected to boost the industry in the coming time. the ongoing development in the healthcare sector along with the increasing competition in the pharmaceutical industry is expected to be a notable cause that can increase the market in the forecast term.
Adoption of Latest Technologies to Offer Lucrative Opportunities in the Forecast Tenure
The growing adoption of technologies among the softgel capsule manufacturers is likely to lead to the production of innovative products such as; chewcaps, duocaps, and hydrophilic sandwich (HS) that can grow the market significantly in the assessment term.
Price Volatility to Hamper the Market Growth during the Analysis Tenure
The frequent fluctuation in the price of the soft gelatin capsules is likely to obstruct the trade expansion during the forecast period.
High Costs Associated with Vegetarian Capsules to Pose a Significant Challenge
The high cost associated with the vegetarian capsules is expected to pose a significant challenge in the market expansion during the evaluation timeframe.
Cumulative Market Growth Analysis
MRFR predicts that the global market for softgel capsules is expected to witness a notable market growth during the analysis period. The expansion of the trade can be accredited to the expanding health-conscious populace across the globe.
In the application segment of the global softegel capsules market, the nutrition segment is estimated to expand at a CAGR of 5.98% during the projection tenure. The fast adoption of the sedentary lifestyle is likely to result in various health conditions, which is expected to contribute significantly to the expansion of the segment.
In the type segment of the global softegel capsules market, the gelatin segment is expected to acquire a larger market share as compared to the non-animal type segment. The segment is expected to acquire a market value of USD 2,242.08 million by 2023. On the other hand, the non-animal type segment is anticipated to thrive at a CAGR of 5.79% during the analysis term.
North America to Procure USD 1,072.74 Mn by 2023
As per the assessment conducted by MRFR, the global market is anticipated to be dominated by North America while procuring a market value of USD 1,072.74 million while expanding at a CAGR of 6.2% during the forecast period. The growing contribution of key players in the region is expected to be another salient cause that can grow the market significantly. Besides, the increasing inclination towards fitness is likely to boost the demand for nutraceuticals, which is predicted to drive the market in the region. Among all, the US is projected to make a significant contribution in developing the industry in the region.
APAC to Expand at a CAGR of 6.04% during the Forecast Period
APAC is expected to be a lucrative market during the forecast period. The region is anticipated to grow at a CAGR of 6.04% while garnering a market value of USD 740.94 million by 2023. The growing desire to be physically fit and the growing inclination towards sports are other salient causes that are likely to augment the market in the region. In addition, the ongoing technical development in the product and the rising investments in pharmaceuticals are projected to strengthen the trade in APAC in the coming time. The presence of developing countries such as; India and China are expected to play an essential role in augmenting the market in the region.
Various players are adopting strategies such as; acquisition, merger, and collaboration to gain a superior position in the market. Key players are also concentrating on expanding their product portfolio, which will grow the competition in the market. The growing health consciousness among the expanding populace and the increasing inclination towards sports will result in the growing number of players entering the market along with rising innovation in the product.
December 2020- Central Institute of Fisheries Technology (CIFT) has introduced sea-weed based nutraceuticals and sanitizers in the market. To give sufficient exposure to the product, the Kochi based research organization tied up with Bodina Naturals Pvt. Ltd, which is an Ayurvedic manufacturing company.
The latest report prepared by MRFR has presented a synopsis of the global softgels capsules market with essential insights. The overview consists of an introduction to the service and product with various usages of these products and services in different end-user sectors. Further, the report also encompasses a thorough study of the manufacturing and management technology implemented for the same. The report on the market casts light on the established and as well as the new vendors entering the market. In addition, the report is an exhaustive analysis of the recent industrial drifts, comprehensive geographical evaluation, and competitive analysis during the review period. The report has emphasized several factors impeding and augmenting the market size. Some of the critical factors include the aftermath of technical development, mounting population, and the dynamics of demand and supply in the global market. It also consists of the impact of initiatives taken by the government and the competitive environment present in the global market during the review period. In addition, the report also throws light on the impact of COVID-19 on the market.
Global Softgels Capsules Market, By Application
Global Softgels Capsules Market, By Application
Frequently Asked Questions (FAQ) :
The global softgel capsule market is expected to reach a valuation of USD 3,276 million by 2023.
The global softgel capsule market is expected to rise at a solid 5.46% CAGR over the forecast period from 2020 to 2027.
The increasing consumption of nutritional supplements is likely to be the major driver for the global softgel capsule market over the forecast period.
North America holds the largest share in the global softgel capsule market.
Leading players in the softgel capsule market include Patheon, Catalent Inc., Weihai Baihe Biology Technological Co. Ltd., Captek Softgel International Inc., Capsugel, Amway, Strides Pharma Science Limited, Soft Gel Technologies Inc., and International Vitamin Corporation, among others.
Global softgel capsules market is expected to reach a valuation of USD 3,276.00 Mn by the year 2023, which will see it capture a CAGR of 5.46% during the forecast period (2018-2023). Soft gelatin capsules are a popular pharmaceutical product sold across the globe. Over the years, several innovative pharmaceutical products have come up that allow delivery of superior healthcare services. In this regard, softgel capsules have achieved a remarkable feat. They are generally used in the medical industry as a container for drugs.
Softgel manufacturing process is simple. Unlike many of its peers, softgel capsules do not require complex formulation. They are used for encapsulation of liquid or semi-liquid active ingredients. These capsules can accommodate a wide range of pharmaceutical compounds. Sales of softgel capsule will remain strong during the assessment period. Rising demand for nutraceuticals is reflecting favolably on the softgel capsule market. In addition, increased use of supplements for fulfilling nutritional requirements is creating lucrative opportunities for market players. Softgel capsules are used for encapsulation of various type of nutraceuticals. Softgel capsules are a preferred drug capsulation solution. In recent years, a considerable number of pharmaceutical companies have entered the global softgel capsule market, which not only boosted the global supply but also led to further diversification of the product.
The segmental analysis of the global softgel capsule market is conducted on the basis of type, and application.
By Type, the market has been segmented into gelatin type, and non-animal type. The gelatin type segment accounted for the largest market share in 2017. Gelatin type softgel capsules are easy-to-use for administration drugs orally or through inhalation routes. Meanwhile, the non-animal types segment is expected to witness a relatively higher CAGR during the assessment period.
Based on application, the market has been segmented into vitamins, supplement, and nutrition. The vitamins segment command 37.8% market share during the forecast period. Increased incidence of vitamin deficiency globally is supporting the growth of the segment. The nutrition segment is projected to witness the fastest CAGR during the assessment period. Malnourishment remains a major issue in various parts of the world, prompting governments to launch awareness programs and subsidies products
On the basis of region, the market has been segmented into North America, Europe, South America, China, Japan, Rest of Asia Pacific and the Middle East & Africa (MEA). Of these, North America is currently leading the global softgel capsule market. In 2017, the region accounted for 31.4% market share and the trend is likely to continue throughout the assessment period. Several factors can be linked with the growing importance of region, to name few would be the rising popularity of capsule dosage forms among Americans and the presence of a vast pharmaceutical sector. Moreover, the rising consumer awareness about the benefits of nutraceutical products in the prevention of major health problems and increased government initiatives to improve the public welfare is having positing impact on the softgel capsule market in North America. Countries such as the U.S. and Canada are home to some of the top-notch pharmaceutical companies of the world, which gives the region a significant advantage. North America is followed by Europe and China with shares of 29.7% and 6.0%, respectively. Increasing health consciousness among people and wide acceptability of these capsules are some of the major advantages driving the demand for softgel capsules products in Europe.
Some of the leading companies operating in the global softgel capsule market are Catalent, Inc., Patheon (Part of thermo fisher scientific), Capsugel (A part of lonza), Captek softgel International Inc., EuroCaps Ltd. (Part of the DCC plc Group), Amway, Sirio Pharma Co. Ltd., Strides Pharma Science Limited, International Vitamin Corporation, Soft Gel Technologies, Inc., and Weihai Baihe Biology Technological Co. Ltd.
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.
Global Soft Gel Capsules Market: Competitive Landscape
The prominent players in the global soft gel capsules market are Capsugel, Catalent Inc., Patheon NV, Baihe Global Products Limited, Yuwang Group, Captek Softgel International Inc., EuroCaps, and others.
Capusgel is the holds the largest share for the global soft gel capsules market in 2017. The company offers a range of innovative dosage forms for the biopharmaceutical, consumer health, and nutrition industries. It has proprietary and patent-protected technologies. It deals in gelatin, alternate polymer, and liquid filled capsules; hard gelatin, sprinkle, plus Hydroxy Propyl Methyl Cellulose (HPMC), fish gelatin, pearlescent, over-encapsulation, pre-clinical, liquid, soft-gelatin, acid resistant capsules; gelcaps; capsule in capsule technology products; and solid lipid pellet technology products.
Catalent holds second position in terms of market share in the global soft gel capsules market in 2017. The company assists innovators by optimizing and manufacturing pharmaceutical, biologic, consumer health, beauty products, and animal health with its innovative drug delivery technologies. It has over 80 years of experience accompanied with deep expertise, wide product portfolio, and innovative technologies to market more molecules in less time, and improve product performance.
Captek Ltd holds third position in terms of market share in the global Soft gel capsules market in 2017. The company is engaged in contract manufacturing of custom dietary supplementary formulations. It offers vitamins, minerals, carotenoids, herbals, botanicals, oil softgel capsules, specialty softgel products, coenzyme Q10, and vegetarian capsules. The company also offers packaging services. Captek also has a subsidiary called J+D Laboratories, Inc.
Patheon offers developing and manufacturing services for drug molecules for pharmaceutical and biopharmaceutical companies. The company deals in small and large molecules, sterile, and oral solid and softgel dosage forms. Patheon’s solutions and services include biologics, product development, commercial product supply, and supply chain management.
EuroCaps Ltd. is a contract manufacturing organization of softgel capsules and supplies to the nutritional supplement market. It operates a Good Manufacturing Practices (GMP) facility licensed by the UK Medicines & Healthcare products Regulatory Authority (MHRA). EuroCaps is a part of DCC Health and Beauty Solutions, a subsidiary of DCC Healthcare.
Capsugel, and Catalent Inc., are the major companies for soft gel capsules operating on a global scale. The lower market share of Amway can be attributed to fewer products offering, as compared to other major players. Key players such as Patheon NV, Baihe Global Products Limited, Yuwang Group, Captek Softgel International Inc., EuroCaps increase the level of competition in the global soft gel capsules market, as these companies are expected to expand their product portfolios, with the help of other business units, to increase their market share.