Global Softgel Capsules Market by Type (Gelatin-based/Animal-based, Non-animal-based), by End-use (CMO, Pharmaceutical, Nutraceutical, Cosmeceutical) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global softgel capsules market was valued at USD4.7 billion in 2020. It is projected to grow at a compound annual rate of 9.0% between 2021 and 2028. Softgel capsules offer many benefits, including ease of swallowing, taste and odor masking, increased bioavailability, better absorption, improved atmospheric stability, and enhanced bioavailability. Modern manufacturing technology has made it possible to add more benefits to traditional capsules. These include controlled drug release, tamper evident, formulation choice of potent APIS, attractive aesthetics and a longer shelf life.

Softgel manufacturers have been focusing their efforts on non-gelatin-based capsules made from plant-based polymers in recent years. Starch, HPMC and gums like Pullulan are all important ingredients. Vegetarians can take their medicinal needs into account with gelatin-free capsules. Non-gelatin-based capsules offer technical benefits to both suppliers and manufacturers. Aenova's vegetable capsule launch increased their sales revenue by double-digit percent. Eurocaps is working on a chewable softgel capsule with a better taste masking capability. Roquette and Catalent are other market leaders in developing vegan capsules. This will increase market reach for the global vegan population.

Most companies started research to develop oral vaccines after the COVID-19 pandemic. Five companies are currently developing oral anti-SAR–CoV 2 vaccines. Two companies, Immunity Bio, and Vaxart, have entered the clinical trial phase. Catalent, a leader in softgel capsules, has teamed up with a top clinical-stage immunotherapy firm to address the urgent need for oral vaccines. Studies are also being done to see if vitamin D capsules can reduce the severity of mild or severe respiratory discomfort caused by SAR-Cov-2 viral infection. Different industries were affected by the pandemic, including the pharmaceutical and nutraceutical sectors.

This period saw an increase in the nutraceutical industry due to increased vitamin, nutritional, and other supplement consumption. Nutraceuticals are in high demand due to increased use of vegetarian and vegan-based capsules and product launches that were made by nutraceutical companies. The market for vitamin capsules has seen a rise in healthy lifestyle choices and a shift to the geriatric population.

The capsules market saw a decline in the pharma sector. The pharma capsules market was affected by a decrease in demand and supply, reduced elective medical procedures, and decreased medication required, as well as increased demand for OTC drugs. Despite the slight negative impact of the pandemic, there is a chance that the market will rebound in 2022. Market growth is influenced by the following factors: Improved research into capsules for potent and crucial drug molecules, development of capsules to treat drugs that require multiple excipients, preference for capsules over oral dosage forms.

Application Insights

The market was dominated by the vitamins segment, which accounted for 26.1% of the total revenue in 2020. Vitamins can be affected by atmospheric oxidation and degrading when they are packaged in tablets or gummies. Softgel capsules are the best choice because they protect from UV radiation and oxidation, thus increasing their shelf life. Research suggests that softgel capsules are more effective at absorbing vitamins into the bloodstream then tablets. Softgel capsules are a popular form of vitamin, which has led to a large market share in this application segment. This segment saw the highest CAGR at 9.8% over the forecast period. The Covid-19 pandemic triggered a surge in Vitamin C and D sales in countries such as the USA and India. This was approximately 89.0% more than the 2019 level.

Due to the increased acceptance of healthy lifestyles by masses to combat the pandemic, health supplements occupied the second place in the application segment. Pre- and postnatal softgel capsule sales increased due to widespread acceptance. Market share for anti-biotic and antibacterial medications, antacid, anti-flatulent preparations and anti-inflammatory preparations, as well as cough and cold preparations, was descending.

Manufacturer Insights

In 2020, the nutraceutical sector accounted for 37.6% of the total market. Nutraceutical companies are primarily focused on the development of vitamins, minerals, health supplements, and other nutritional products. Softgel formulations are a major part of the development of nutraceutical products. Nearly 31% of all nutraceutical manufacturers' total revenue came from the formulations segment. Its high market share and growth has been due to the increasing awareness of health supplements in developing countries, an increase in production houses and a surge of sales caused by the COVID-19 pandemic. Due to the increased collaboration with SMEs, outsourcing softgel capsules and the increase in sales, Pharma occupied the second largest market share. This directly influenced the growth at the Contract Manufacturing Organization (CMO). Softgel capsule production has increased in the cosmeceutical sector due to the growing demand for hair and skin care products.

Type Insights

With 72.8% of the market, the gelatin-based/animal-based segment dominated in 2020. Gelatin has been the preferred excipient for manufacturers for over 80 years due to its unparalleled advantages over all other excipients. Its wide acceptance on the market is due to its ease of digestion, tamper evident capsule production, superior mechanical resist and seal quality, patient compliance, abundant resource availability and inert raw material.

Manufacturers are now using bovine and porcine gelatin to create capsules due to their unique properties. Bovine gelatin increased capsule firmness while porcine gelatin added plasticity and clarity to the formulation. Non-animal capsules showed a 10.2% CAGR despite the benefits of gelatin-based capsules. The softgel capsules market will see increased demand for vegan medication, especially after the COVID-19 pandemic.

Regional Insights

North America was the dominant market, accounting for 29.1% of the total revenue in 2020. The region has major players and improved production technology. They also have increased R&D spending to expand their product range. The largest market share is also due to the presence in the region of health-conscious consumers as well as the presence of top pharma executives. APAC, however, is the fastest-growing market with a CAGR 9.6%. Its high growth is due to the large presence of generic medicine producers in China and India, rising demand for cost-efficient therapies, rapidly growing economic conditions and rise in contract manufacturing organisations within the region. Europe's market is expected to grow due to the adoption of high-tech processing for softgel production and rising personal medicine spending.

Market Share Insights & Key Companies

Due to the existence of contract manufacturers and SMEs around the world, the market is fragmented. Large manufacturers are increasingly outsourcing softgel capsule production to reduce their equipment costs and ensure a fair price for the market. Market leaders conduct research to develop capsule-in capsules, tablets-in capsules, or controlled release medication for critically ill patients. This helps them to expand their product range and to maintain market leadership. The market leader in softgel capsules is:

• Fuji Capsules Co Ltd

• Sirio Pharma

• Captek

• Patheon

• Catalent

• Eurocaps

• Aenova

• Capsugel

• Procaps Laboratories

• Soft gel Technologies Inc.

Up Market Research published a new report titled “Softgel Capsules Market research report which is segmented by Type (Gelatin-based/Animal-based, Non-animal-based), by End-use (CMO, Pharmaceutical, Nutraceutical, Cosmeceutical), By Players/Companies Eurocaps, Catalent, Sirio Pharma, Procaps Laboratories, Captek, Fuji Capsules Co Ltd, Aenova, Capsugel, Patheon, Soft gel Technologies Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Softgel Capsules Market Report Segments:

The market is segmented by Type (Gelatin-based/Animal-based, Non-animal-based), by End-use (CMO, Pharmaceutical, Nutraceutical, Cosmeceutical).

Some of the companies that are profiled in this report are:

1. Eurocaps
2. Catalent
3. Sirio Pharma
4. Procaps Laboratories
5. Captek
6. Fuji Capsules Co Ltd
7. Aenova
8. Capsugel
9. Patheon
10. Soft gel Technologies Inc

Softgel Capsules Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Softgel Capsules Market

Overview of the regional outlook of the Softgel Capsules Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Softgel Capsules Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Softgel Capsules Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Gelatin-based/Animal-based

                2. Non-animal-based

                1. CMO

                2. Pharmaceutical

                3. Nutraceutical

                4. Cosmeceutical

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Softgel Capsules Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Softgel Capsules Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.