Softgel Capsule Market Updates 2024 : at a CAGR of 5.4%, Reach $7.5 Billion Forecast by 2031
The softgel capsules market size was valued at $4.4 billion in 2021, and is estimated to reach $7.5 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031
WILMINGTON, DELAWARE , UNITED STATES, July 30, 2024 /EINPresswire.com/ -- The global softgel capsule market has witnessed substantial growth over the past decade, driven by increased consumer demand for dietary supplements, pharmaceutical advancements, and a preference for convenient dosage forms. Softgel capsules, known for their easy swallowability, enhanced bioavailability, and ability to encapsulate a wide range of substances, are becoming a cornerstone in the health and wellness industry.
The softgel capsules market size was valued at $4.4 billion in 2021, and is estimated to reach $7.5 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐๐ฉ๐จ๐ซ๐ญ https://www.alliedmarketresearch.com/request-sample/A16306
Market Drivers
Rising Health Awareness: As consumers become more health-conscious, there is a growing demand for vitamins, minerals, and other dietary supplements. Softgel capsules are preferred due to their ease of consumption and ability to mask unpleasant tastes and odors.
Pharmaceutical Advancements: The pharmaceutical industry is increasingly adopting softgel capsules for prescription and over-the-counter medications. Their ability to encapsulate both hydrophilic and lipophilic substances makes them ideal for a wide range of pharmaceutical applications.
Technological Innovations: Advances in softgel encapsulation technology have improved the efficiency and cost-effectiveness of production. Innovations such as vegetarian and vegan softgel capsules have broadened the market, catering to the dietary preferences of a wider audience.
Aging Population: The global aging population is driving the demand for pharmaceuticals and dietary supplements. Softgel capsules, being easy to swallow, are particularly favored by elderly consumers.
Market Segmentation
By Application:
Pharmaceuticals: Softgel capsules are used for analgesics, antibiotics, cardiovascular drugs, and others.
Nutraceuticals: This includes vitamins, dietary supplements, omega-3 supplements, and other health products.
Cosmetics: Softgel capsules are used for encapsulating oils and other active ingredients in skincare and beauty products.
By Type:
Gelatin-based: Traditional softgel capsules made from animal-derived gelatin.
Non-gelatin based: Vegetarian and vegan alternatives made from materials like starch, cellulose, and seaweed extract.
By Region:
North America: A significant market due to high health awareness and spending capacity.
Europe: Growth driven by stringent regulations and high demand for nutraceuticals.
Asia-Pacific: Rapid growth due to increasing health awareness and expanding pharmaceutical industry.
Rest of the World: Steady growth with increasing healthcare investments.
Key Players and Competitive Landscape
The softgel capsule market is highly competitive, with key players investing in research and development to innovate and improve product offerings. Major companies include:
Catalent, Inc.: A leading provider of advanced delivery technologies and development solutions for drugs, biologics, and consumer health products.
Aenova Group: Known for its high-quality contract manufacturing services for the pharmaceutical and healthcare industries.
Capsugel (part of Lonza Group): A global leader in capsules and health ingredients, providing innovative delivery solutions.
Sirio Pharma Co., Ltd.: Specializes in the development and manufacturing of nutraceutical and pharmaceutical softgel capsules.
Future Outlook
The future of the softgel capsule market looks promising, with expected growth driven by continuous innovations and expanding applications in pharmaceuticals, nutraceuticals, and cosmetics. Key trends to watch include:
Sustainability: Growing demand for eco-friendly and sustainable capsule materials.
Personalized Medicine: Increasing focus on personalized medicine will drive demand for customized softgel formulations.
E-commerce Growth: The rise of online health and wellness product sales will boost market penetration and accessibility.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐จ๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ https://www.alliedmarketresearch.com/purchase-enquiry/A16306
๐๐๐ฒ ๐๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ฌ๐ญ๐ฎ๐๐ฒ
โข By type, the gelatin softgel capsules segment was highest contributor to the market in 2021.
โข By application, the health supplements segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
โข By distribution channel, the pharmacies & drug stores dominated the market in 2021, and is expected to grow at a CAGR of 5.0%
โข Region-wise, North America generated the largest revenue share in 2021, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
๐๐๐ฒ ๐๐๐ง๐๐๐ข๐ญ๐ฌ ๐๐จ๐ซ ๐๐ญ๐๐ค๐๐ก๐จ๐ฅ๐๐๐ซ๐ฌ
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the softgel capsule market analysis from 2021 to 2031 to identify the prevailing softgel capsule market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the softgel capsule market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global softgel capsules market size trends, key players, market segments, application areas, and market growth strategies.
Conclusion
The softgel capsule market is poised for robust growth, underpinned by technological advancements, rising health consciousness, and the expanding pharmaceutical and nutraceutical sectors. Companies that invest in innovation, quality, and sustainability will likely lead the market, meeting the evolving needs of consumers and healthcare providers alike.
๐๐ญ๐ก๐๐ซ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ข๐ง ๐๐๐๐ฅ๐ญ๐ก๐๐๐ซ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ (๐๐จ๐จ๐ค ๐๐จ๐ฐ ๐ฐ๐ข๐ญ๐ก 10% ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ):
๐๐ก๐๐ซ๐๐ง๐จ๐ฌ๐ญ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ https://www.alliedmarketresearch.com/theranostics-market-A13608
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David Correa
Allied Market Research
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