As per a new report published by Report Ocean, the global softgel capsules market is likely to rise at a CAGR of 5.46% between 2020 and 2027. The report is titled as “Global Softgel Capsules Market Size study, by Product (Gelatin Soft gel Capsules, Vegetarian Softgel Capsules), by Application (Antacid and Antiflatulent Preparations, Antianemic Preparations (Hematenic Preparations), Anti-Inflammatory Drugs, Antibiotic and Antibacterial Drugs, Cough and Cold Preparations, Cardiovascular Therapy Drugs, Health supplement, Vitamins and Dietary Supplements, Other Therapeutic Applications), by Raw Material (Type-A Gelatin (Pork Skin), Type-B Gelatin, Fish Bone Gelatin, Hydroxy Propyl Methyl Cellulose (HPMC), Starch Material, Pullulan), by End User (Pharmaceutical Companies, Nutraceutical Companies, Cosmeceutical Companies, Contract Manufacturing Organizations) and Regional Forecasts 2020-2027.” In 2019, the market reported an overall value of US$2.60 Bn.
The key factors behind the growth of the global softgel capsules market is the increasing investments by companies in research for drug development and technical advancements in drug delivery systems. The rising demand for vegetarian capsules has also been supporting this market.
The increasing demand from health-conscious customers and the introduction of emerging technology by manufacturers are also projected to boost the market growth. Apart from this, the augmenting application of softgel capsules in nutraceutical industries and the increasing investments by key market players in capsule manufacturing plants will also add to the growth of this market in the near future. However, the fluctuating prices of raw materials and high cost of vegetarian capsules are expected to restrict the market over the next few years.
North America to Report Continued Lead
The report also offers a regional analysis of the global softgel capsules market. North America has surfaced as the key regional market for softgel capsules across the world in terms of market share, thanks to the presence of a large pharmaceutical sector and a huge base of health-conscious consumers. The regional market is likely to remain on the top over the period of the forecast. Among other regional markets, Asia Pacific is expected to report a high growth rate in the near future. The increased healthcare expenditure and the rapid expansion of the pharmaceutical industry are projected to create lucrative prospects for the growth of the softgel capsules market in Asia Pacific.
Impact of Covid 19 on Softgel Capsules Market
The Covid 19 pandemic has affected the global softgel capsules market significantly. Consumers are spending little money over things that they do not perceive absolute necessity, which is resulting in a loss in demand, reflecting negatively on the market. However, when the situation gets under control, the market will gain its momentum back, assert experts.
- The pharmaceutical industry has surfaced as the key end user of softgel capsules and the trend is likely to remain so.
- North America is expected to continue to lead the global softgel capsules market.
The global softgel capsules market is classified into:
- Gelatin Soft gel Capsules
- Vegetarian Softgel Capsules
- Antacid and Antiflatulent Preparations
- Antianemic Preparations
- Hematenic Preparations
- Anti-Inflammatory Drugs
- Antibiotic and Antibacterial Drugs
- Cough and Cold Preparations
- Cardiovascular Therapy Drugs
- Health supplement
- Vitamins and Dietary Supplements
- Other Therapeutic Applications
By Raw Material
- Type-A Gelatin
- Type-B Gelatin
- Fish Bone Gelatin
- Hydroxy Propyl Methyl Cellulose
- Starch Material
By End User
- Pharmaceutical Companies
- Nutraceutical Companies
- Cosmeceutical Companies
- Contract Manufacturing Organizations
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- Aenova Group GmbH
- Fuji Capsule Co., Ltd.
- Sirio Pharma Company Limited
- Captek Softgel International Inc
- Catalent Inc.
- EuroCaps Ltd (part of DCC Plc)
- Guangdong Yichao Biological Co. Ltd
- Elnova Pharma
- Hunan Er-Kang Pharmaceutical Co. Ltd
Company Name: Report Ocean
Contact Person: Nishi Sharma
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