Easy to swallow, appealing to the eye, and formulated to avoid any unpleasant aftertaste of what lies inside, it is of little surprise that the popularity of soft gelatin capsules (softgels) is on the rise within the world of dosage delivery.
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Over the next six years’ the global market for softgels is forecasted to increase by more than $1billion as it grows from its current size of $4 billion to $5.3 billion by the end of 2028, at a healthy compound annual growth (CAGR) rate of 4.1%, according to QY Research Group.
These favouring fortunes for the sector are in part a result of a broad preference among consumers for the concept and ease of consumption as a whole.
But it is also being driven by the fact that leading companies within the market are taking proactive steps to ensure it evolves to meet changing consumer tastes.
Serving to support this notion is the fact that certain sub-sectors and types of softgels are expected to undergo even greater growth.
As an example, growing demand for vegetarian softgel capsules that are free of any animal products is forecasted to increase at a CAGR of 4.6% in the period 2021-2030, according to Allied Analytics.
This will see it reach a value of $824 million by the end of the decade, compared to its current size of $527 million.
Meeting customer and consumer needs
Leading pharmaceuticals group Procaps is ideally placed to capitalize on this and other changing demands within the market through its range of Softigel brands that service different consumer needs.
This includes its VersagelTM brand of vegetarian and vegan certifiable capsules, which are available in different sizes, shapes and colours. These capsules provide the ideal delivery system for those who are unable to consume animal products for lifestyle, dietary or religious reasons.
In addition to this sector of the market, Procaps is also meeting a range of other demands through its different softgel derivations, which include:
With this market-leading range of products, which also includes the completely customisable range of Stripegels that offer unprecedented scope for brand identification, Procaps has proven that it is quick to respond to these shifting consumer demands.
Moving into the US market
And as both consumer and producer demand for these and other innovations continue to increase, its recent acquisition of a new production facility in West Palm Beach, Florida will enable it to significantly increase its output.
The facility, which is the companies first Softgel manufacturing site in the United States, will enable it to produce up to 1.8 billion different softgel capsules each year in order to meet the growth in demand.
“We believe our expansion to the United States will provide us with a wider capability to deliver our pharmaceutical products to our strategic partners and ensure the continued quality of their brands which are their most valued assets,” explains Camilo Suarez, Transition Manager at Procaps Group.
“The increase in production capacities will provide us with the opportunity to deliver a wider product array as we move even closer to our customers in the North American markets as we implement our ambitious growth plans.”
Having already firmly established manufacturing operations in South America, with facilities in both Colombia and Brazil, the company’s entrance into the US market will place it even closer to the major developed pharmaceutical markets.
As part of this growth plan, the new manufacturing facility is fully compliant with leading national and international regulatory standards so that it can service clients in the US, Canada, Australia and the European market.
“The focus of this new Center for Pharmaceutical Excellence and Manufacturing is to enable the production of high-value products in softgel advance technologies and complex formulations for key partners in these markets,” adds Suarez.
“This reinforces our goal of becoming a world-class player, allowing us to double our manufacturing capacity for global products and brands, and delivering our purpose of making a difference through exceptional experience for healthier lives.”
As consumer demand for the soft gel capsule sector grows and changing tastes drive innovation, Procaps is perfectly placed to meet the market’s needs. To find out more, visit their website or contact communications@sofgenpharma.com
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By clicking the Download Free Infosheet button, you accept the terms and conditions and acknowledge that your data will be used as described in the Procaps privacy policy
By downloading this Infosheet, you acknowledge that we may share your information with our white paper partners/sponsors who may contact you directly with information on their products and services. Visit our privacy policy for more information about our services, how we may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
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