Softgel Capsule Market: By Type (Gelatin Type, and Non-Animal Type), By Application (Vitamins, Supplement and Nutrition) and By Region (China, Japan, Rest of Asia Pacific, Latin America, North America, Europe  and Middle East & Africa) - Global Forecast till 2027

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.

Segmental Analysis

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

Regional Outlook  

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.

Competition Tracking

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.

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.