Softgel Capsules Market Consumption and Revenue Forecast by Regions 2030

Softgel Capsules Market Growth & Trends

The global softgel capsules market size is estimated to reach USD 13.09 billion by 2030 registering a CAGR of 7.9%, according to a new report by Grand View Research, Inc. Softgel capsules are proven to be the choice of formulation for poorly soluble drugs and enhance the absorption time of most drug molecules. Its advantages over tablets and other oral formulations have led to the increased adoption of softgel capsules across the globe. Ease of swallowing, taste masking, improved bioavailability, non-reactive, aesthetically appealing, and longer shelf life are the factors influencing its wide acceptance.

Softgel Capsules Market Segmentation

Grand View Research has segmented the softgel capsules market based on type, application, manufacturer, and region:

Based on the Type Insights, the market is segmented into Gelatin/ Animal-Based and Non-animal Based.

• The gelatin-based/ animal-based segment accounted for the largest share of 72.5% in 2021. Over 80 years, gelatin is the choicest excipient of manufacturers due to its unparallel advantages over any other excipient. Ease of digestion, tamper-evident capsule production, superior mechanical resistance and seal quality, patient compliant, abundant resource availability, and inert, and clean label raw material, are the factors responsible for its wide acceptance in the market.
• Nowadays, manufacturers are developing capsules using a combination of bovine and porcine gelatin due to their unique properties. Gelatin extracted from bovine enhanced capsule firmness and that from porcine provides plasticity and clarity characteristics to the formulation. Despite the advantages of gelatin-based capsules, non-animal-based capsules showcased a high CAGR of 9.2% during the forecast. Inclination towards vegan options for medication especially post-outbreak of the COVID-19 pandemic, increased adoption by vegetarian consumers, and growing research by leading market players are likely to boost the market growth.

Based on the Application Insights, the market is segmented into Antacid & Anti-flatulent Preparations, Anti-anemic Preparations, Anti-inflammatory Drugs, Antibiotic & Antibacterial Drugs, Cough & Cold Preparations, Health Supplement, Vitamin & Dietary Supplement, Pregnancy.

• The vitamins and dietary supplements segment accounted for the largest share of 26.3%. Vitamins are prone to atmospheric oxidation and degradation when formulated as tablets or gummies. Hence, softgel capsules are the best formulation choice, as it protects from UV radiation and oxidation ultimately improving their shelf life. Studies suggest that vitamins when administered in softgel capsule form are more quickly absorbed in the bloodstream than in a tablet formulation. Owing to such advantages, vitamins are majorly sold in the softgel capsule form, establishing its large market size in the application segment. Interestingly, the segment registered the highest CAGR of 8.9% during the forecast period. Due to the onset of the pandemic, countries like USA and India witnessed a rise in sales of Vitamin C and D, by approximately 89% from 2019.
• Health supplements held the second position in the application segment due to the increased adoption of a healthy lifestyle among the masses to tackle the pandemic. Wide acceptance of pre and post-natal capsules, and inclination towards tasteless medication, led to the increase in sales of softgel capsules, enhancing pregnancy market growth. Anti-biotic and antibacterial drugs, antacid and anti-flatulent preparations, anti-inflammatory drugs, anti-emetic preparations, and cough and cold preparations, established descending market share, respectively.

Based on the Manufacturers Insights, the market is segmented into Pharmaceutical Companies, Nutraceutical Companies, Cosmeceutical Companies, Contract Manufacturing Organizations.

• The nutraceutical segment accounted for the largest share of 38.0% in 2020. Nutraceutical companies mainly focus on developing vitamins, minerals, and health supplements. Thus, softgel formulation is largely developed to keep up with the rising need for nutraceutical products. The formulations account for nearly 31% of the total revenue of most nutraceutical manufacturers. Increasing awareness of health supplements among developing nations, a growing number of production houses, and a surge in sales due to the COVID-19 pandemic have led to its high growth and large market share.
• Pharma established the second largest share in this segment due to increased collaboration with SMEs and outsourcing of softgel capsules, which directly influenced the growth of the Contract Manufacturing Organization (CMO) segment. The growing need for skin and hair care products has surged the softgel capsule production in the cosmeceutical market.

Softgel Capsules Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Market Share Insights

• April 2022: Catalent acquired a facility in Oxfordshire to expand biologics capabilities in the U.K. and across Europe.

Key Companies Profile & Market Share Insights

The market is highly fragmented due to the presence of contract manufacturers and SMEs across the globe. Outsourcing of softgel capsules is the leading trend adopted by large manufacturers, reducing their burden of equipment expenditure, and ensuring a competitive sales price to adhere in the competitive market.

Some of the prominent players operating in the global softgel capsules market include,

• Fuji Capsules Co Ltd
• Sirio Pharma
• Captek
• Patheon
• Catalent
• Eurocaps
• Aenova
• Capsugel
• Procaps Laboratories
• Soft Gel Technologies Inc.

Order a free sample PDF of the Softgel Capsules Market Intelligence Study, published by Grand View Research.