Softgel capsule market is anticipated to grow at a considerable CAGR of 6.2% during the forecast period owing to benefits of softgel capsules, increasing demand for dietary supplements and nutraceuticals, rising demand for naturally sourced ingredients and have the quality of easy digest dissolving within a few minutes of reaching the stomach. Consuming is always easy as they have a smooth texture. They are more accessible to gulp down than tablets, caplets, and other pills. Suspensions with an unlikable smell or flavor can be easily ingested in a soft gelatin capsule dosage form, offering an orderly exterior and suitable ingestion.

Segmental Outlook 

The global softgel capsule market is segmented on the basis of material type, application and category. Based on the material type, the market is sub-segmented into animal based and non-animal based. Based on the application, the market is sub-segmented into pharmaceuticals, nutraceutical and dietary supplements and cosmetics & personal care. Based on the category the market is sub-segmented into brand manufacturer and contract manufacturer. Among the material type, animal based sub-segment is anticipated to hold a considerable share of the market owing to capacity to hold water, higher melting point, and faster production time, low cost and minimizing potential generation of dust during manufacturing and thereby improving the safety of production personnel. Porcine tissues are used to produce a vast majority of softgel capsules, resulting in a bigger market share for this sector. 

Nutraceutical and Dietary Supplements Sub-Segment to grow significantly in the Near Future

Among the application, the nutraceutical and dietary supplements sub-segment is expected to hold a considerable share of the market and is further anticipated to grow at a considerable CAGR over the forecast period. Rising incidences of osteoarthritis have augmented the demand for nutraceuticals made of herbs to counter the effects of inflammation. Additionally growing awareness regarding health and personal care and the population group characterized as Gen Z has propelled the demand for nutraceuticals and supplements. The global nutraceuticals and supplements market has steadily grown over the past decade and was reported to be worth almost $353 billion in 2019. In the US prior to the pandemic, dietary supplement sales increased by 5% ($345 million) in 2019 compared to the previous year. Nutraceutical products are effective in reducing obesity, improving skin, and aiding in the treatment of cancer. The market expansion has been reinforced by the health and fitness sectors. Retailers and producers are more aware of consumers changing demands in the nutraceuticals sector as consumers continue to place a high priority on their health. Vitamins are prone to atmospheric oxidation and degradation when formulated as tablets or gummies. Hence, softgel capsules are the best formulation option, as they offer protection from UV radiation and oxidation, ultimately improving their shelf life. Vitamins, when taken in softgel capsule form, are more rapidly absorbed in the bloodstream than in a tablet form. Owing to such advantages, vitamins are majorly sold in the softgel capsule form.

Regional Outlook

The global Softgel capsule market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America to hold a significant share of the global softgel capsule market owing to the presence of a large number of suppliers for softgel capsule products. Additionally, the increasing research and development activities by the established players in the country to expand their product portfolio will further propel the growth of the global softgel capsules market in the US.

Global Softgel capsule Market Growth, by Region 2023-2030

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Softgel capsule Market

Among all regions, the Asia-Pacific region is expected to grow at a prominent CAGR over the forecast period, globally. This can be attributed mostly to enormous presence of generic medicine manufacturers in China and India, increasing demand for cost-efficient therapeutics, large population in these countries, and rapidly improving economic conditions. Additionally rise in contract manufacturing organizations within the region, are factors responsible for its high growth. China's pharmaceutical firms saw their combined business revenue climb 18.7% year on year in 2021, the highest growth rate in five years. Companies in this sector together raked in $502 billion in 2021. The expansion of this regional market is being driven by the expanding Asian scientific base and competence, the expansion of the Asian pharmaceutical market and pharmaceutical manufacturing capabilities, and the sizable patient pool in various Asia Pacific nations. Numerous international pharmaceutical firms are building production facilities in the Asia Pacific region or expanding their current facilities because of the region's enormous growth potential and low manufacturing costs. 

Market Players Outlook

The major companies serving the Softgel capsule market include Nitta Gelatin India Ltd, Fuji Capsule Co., Ltd., Aenova Holding GmbH, GELITA AG, ITALGEL S.r.l., Catalent, Inc, Sirio Pharma Co.,Ltd. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2020, Catalent announced the launch of OptiGel DR technology for the formulation and manufacture of enteric release softgels. The technology allows softgel capsules to be formed by combining pectin, a naturally derived polysaccharide, with gelatin, eliminating the need for a separate capsule coating step.

The Report Covers

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global softgel capsule market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.