The Softgel capsule market Size was valued at USD 7.3 billion in 2021 and is projected to grow from USD 7.87 Billion in 2022 to USD 13.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.7% during the forecast period (2023 - 2032).
The softgel capsule market continues its upward trajectory fueled by expanding applications across pharmaceuticals, nutraceuticals, and cosmeceuticals. With rising consumer preference for easy-to-swallow, convenient dosage forms, softgel capsules offer enhanced bioavailability and stability for various formulations. Increased awareness of health and wellness supplements amplifies demand, propelling market growth globally. Advancements in capsule technology, including improved ingredients and customization options, drive innovation. Regulatory approvals and stringent quality standards remain pivotal in shaping market dynamics. Emerging trends like plant-based formulations and sustainable packaging solutions gain traction, reflecting evolving consumer preferences. The softgel capsule market is poised for sustained expansion amidst evolving industry landscapes.
The softgel capsule market is witnessing a significant surge, driven by the increasing consumer preference for convenient and easy-to-swallow dietary supplements. Among the myriad offerings in this market, vitamin C softgels and vitamin B complex softgels stand out as prominent segments, catering to diverse consumer health needs.
Vitamin C softgels are gaining traction due to their renowned antioxidant properties, supporting immune health, collagen synthesis, and overall vitality. With consumers becoming more health-conscious, the demand for vitamin C softgels has soared, fueled by their convenience and potent health benefits.
Similarly, vitamin B complex softgels offer a comprehensive solution for maintaining optimal energy levels, cognitive function, and nerve health. This blend of essential B vitamins, including B1, B2, B3, B5, B6, B7, B9, and B12, addresses various aspects of well-being, making it a sought-after supplement in the market.
As the softgel capsule market expands, manufacturers are innovating to meet consumer preferences, offering enhanced formulations, improved bioavailability, and sustainable sourcing practices. Moreover, stringent quality standards and certifications ensure the safety and efficacy of these products, further bolstering consumer trust and confidence.
Softgel Capsule Market Segmentation
The global soft gel capsule has been segmented based on type and application.
Based on type, the soft gel capsule market is segmented into gelatin type and non-animal type. The gelatin type segment is expected to grow as the largest market share, owing to their easy-to-use features for the administration of drugs orally or with the use of inhalation routes. The non-animal types segment is projected to witness a comparatively higher CAGR during the forecast period.
On the basis of application, the softgel market has been segmented into nutrition, supplement, and vitamins. The vitamins segment is expected to contribute to more than 30% of the market share during the forecast period, owing to the increased prevalence of vitamin deficiency, which is expected to fuel the growth of the segment. The nutrition segment is expected to exhibit the highest CAGR over the forecast period, owing to the high malnutrition rate underdeveloped and developing countries, leading governments to initiate awareness programs and subsidies products.
Softgel Capsule Market Regional Analysis
Based on the region, the global soft gel capsule market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA).
North America is the largest region in the global soft gel capsule market and is expected to sustain its market standing over the forecast period, owing to the growing preference of capsules dosage among consumers, growth in consumer awareness regarding the benefits of nutraceutical products to prevent significant health disorders, established pharmaceutical in the region, and the increasing government initiatives to ensure the superior quality of medical facilities offered to the consumers.
Europe is one of the significant regions in the global market for soft gel capsules and is expected to contribute substantially to the market share over the forecast period, owing to the established healthcare sector, accessibility of superior medical facilities,and the increasing health consciousness among consumers.
The Asia Pacific is the fastest growing regions in the global soft gel capsule market, owing to the government initiatives to enhance the healthcare sectors, especially in emerging economies such as India, Japan, and China.
The Middle East and Africa (MEA) region is expected to witness gradual growth of the forecast period and account for the smallest market share, due to the weak healthcare sector in Africa, and unfavorable factors for market growth such as weak economic and political conditions. The developing Middle Eastern countries such as Saudi Arabia and the United Arab Emirates are expected to contribute to the majority of the market share, owing to the presence of a developing healthcare and pharmaceutical sectors.
Key Players
Softgel Capsule Companies are Amway, Capsugel (a part of Lonza), Captek softgel International Inc., Catalent, Inc., EuroCaps Ltd. (part of the DCC plc Group), International Vitamin Corporation, Patheon (part of Thermo fisher scientific), Sirio Pharma Co. Ltd., Soft Gel Technologies, Inc., Strides Pharma Science Limited, Weihai Baihe Biology Technological Co. Ltd.
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