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Market Summary The global softgel capsules market was valued at USD 7.67 billion in 2021 and it is predicted to reach USD 13.09 billion by 2030, rising at a compound annual growth rate (CAGR) of 7.9 % from 2022 to 2030.
The softgel capsules are generally made from gelatin, water, and glycerin. The demand for softgel capsules is driven by health-conscious consumers and growing chronic disorders. The several utilities of softgel in pharmaceutical, nutraceutical, and cosmeceutical products, and its advantages such as easier to swallow and longer shelf life over conventional tablets are likely going to drive the market over the forecast period.
COVID-19 pandemic has adversely affected the global softgel capsules, as the supply chain was disrupted and the manufacturing units were closed down due to lockdown. After the pandemic, there is a change in the lifestyle of many people globally, and they are adopting a healthy lifestyle with health and dietary supplements to boost their immunity. The aftereffects of the pandemic have been proven to be positive for the global softgel capsules market.
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SEGMENT OUTLOOK: By Type: The types of softgel capsules is further segmented based on gelatin or animal-based and non-animal based. The gelatin segment is leading the market with the largest revenue share of xx billion in 2021, and it is expected to grow at a CAGR of xx% from 2022 to 2030. The larger share of gelatin or animal-based softgel capsules is linked with the conventional method of softgel production, where animal collagen is used which is a form of protein.
By Application: The Applications of softgel capsules can be categorized into medicines and health & dietary supplements. Health & dietary supplements are leading the market with the largest revenue share of xx% in 2021, and it is expected to grow at a CAGR of xx% from 2022 to 2030. The larger share is linked to the growing demand for supplements to obtain essential nutrients and boosts immunity to prevent various diseases. The growing awareness for health, adoption of a healthy lifestyle, rising standard of living, and increase in disposable income in developing countries is likely going to drive the market over the forecast period.
By Manufacturers: The manufacturer segment is categorized into pharmaceutical, nutraceutical, and cosmeceutical companies. The pharmaceutical companies is leading the market with the largest revenue share of xx% in 2021. The larger share is attributed to the higher number of softgel capsule production by several pharmaceutical companies.
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By Regional Outlook: On the basis of geography, the hydrofluoric acid market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The North American region is leading the market with the largest revenue share of xx% in 2021, and it is expected to grow at a CAGR of xx% from 2022 to 2030. The larger share is attributed to the growing investment in R&D and the importance of U.S FDA approvals to increase the reputation of their product.
By Key Competitors and Market Share Analysis: As a result, leading firms are focused on maintaining long-term operations and developing manufacturing and distribution capabilities to increase their market position. The competition among the players is based on numerous parameters including quality, innovation, product offerings, price and, corporate reputation.
The following are some of the major market players operating across the globe:
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Segments Covered in the Report This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2030. For the purpose of this report, Data Lab Forecast has segmented the global Softgel Capsules Market report on the basis of Type, Application, Manufacturers, and region:
The report segment of the global Softgel Capsules market is as follows: Global Softgel Capsules Market: By Type Outlook (Revenue, USD Million, 2021 – 2030)
Global Softgel Capsules Market: By Application Outlook (Revenue, USD Million, 2021 – 2030)
Global Softgel Capsules Market: By Manufacturers Outlook (Revenue, USD Million, 2021 – 2030)
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