Soft Gelatin Capsules Market Size, Share, Growth, and Industry Analysis, By Type(Gelatin Type, Non-animal Type and Others), By Application (Health Supplements, Pharmaceutical and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Soft Gelatin Capsules Market REPORT OVERVIEW

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The global soft gelatin capsules market size was USD 4141 million in 2021 and market is projected to touch USD 6643.6 million by 2031, exhibiting a compound annual growth rate (CAGR) of 4.8% during the forecast period.

Softgel capsules, also known as soft gelatin capsules, have a solid (outer shell) and a semi-solid or liquid medicinal component surrounding them (inner fill). Either the inside fill of a softgel capsule or the outside shell of a gelatin capsule can contain the active medicinal component. Orally administered soft gelatin capsules have an outer soft gelatin shell made of gelatin sources like plants or animals, plasticizers like glycerin and/or sorbitol, opacifiers, and water. Soft gelatin capsules are used in a wide variety of pharmaceutical products, including antacids, health supplements, medications for bacterial infections, and dietary supplements.

Soft gelatin capsules have a number of benefits, including ease of swallowing, odour and taste masking, better absorption, increased bioavailability, and excellent atmospheric stability. Traditional capsules now have more features thanks to improvements in production technology and the introduction of new materials, such as controlled drug release, tamper-evident packaging, and formulation choice of potent APIS due to reduced stomach pH degradation, appealing aesthetics, and longer shelf life.

COVID-19 Impact: Lockdown Gave Rise to Slower Economy Growth Rate Which Hampered the Market

The financial standing of significant enterprises in the soft gelatin capsule market has been harmed by the COVID-19 pandemic and subsequent lockdown in numerous nations around the world. The main end consumers of softgel capsules, cosmetic, nutraceutical, and pharmaceutical businesses, have all been impacted by the virus because of trade restrictions and lockdowns. Currently, the virus's spread is being prioritised, which will cause the soft gelatin capsules market share to grow slowly in the near future. Due to lockdowns imposed by various governments, the pandemic has had a detrimental influence on the global softgel market in a number of ways, including the development, production, and supply of medications. It has also hampered the expansion of the pharmaceutical divisions of numerous firms worldwide.

LATEST TRENDS

"Development in Vegetarian and Halal Products to Attract the Consumers and Expand the Market"

Since many years, gelatin has been the primary raw material used to create softgel capsules. Investments made by manufacturers in R&D activities and technological advancements have resulted in the creation and use of alternative sources for producing vegetarian softgel capsules as well as smooth manufacturing processes for softgel capsules.

The demand for natural, "green" products from people who are health-conscious is skyrocketing. The desire for vegetarian softgel capsules (HPMC, starch, and pullulan softgel capsules) is predicted to increase as a result of the fact that more than 50% of customers are willing to pay a higher price for a natural product, and nearly half say they are willing to pay more for organic items. To gain a foothold in the marketplaces of nations with a Muslim majority, businesses that produce halal softgel capsules seek halal certification from the Islamic Food and Nutrition Council of America (IFANCA). Currently, nations like Malaysia and Indonesia are searching for domestic and imported gelatin-containing goods that were made using halal-certified components.

Soft Gelatin Capsules Market SEGMENTATION

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• By Type

Based on type, the soft gelatin capsules market is classified into gelatin type, non-animal type and others.

Gelatin type is the leading part of the type segment.

• By Application

Based on application, the soft gelatin capsules market is classified into health supplements, pharmaceutical and others.

Health supplements is the leading part of the application segment.

DRIVING FACTORS

"Increasing Demand from Health-Conscious Consumers to Boost the Market  "

Professional athletes and weightlifters are no longer the only ones who practise sports nutrition. Global events, marathons, gym-goers, and sporting events have all brought sports into the public eye, and the rise in body image and fitness has caused businesses to recast themselves as suppliers of goods for a healthy lifestyle.

Growing consumer interest in health awareness is projected to outweigh and outnumber professional athletes. As a result, retailers are keeping more shelf space for products containing sports nutrition. This offers sports supplement producers the chance to promote sports nutrition goods to a large and diverse consumer base in a softgel capsule oral dosage form.

"Adoption of Novel Technologies by Manufacturers to Multiply the Market Demand"

Manufacturers are making a variety of efforts to offer distinctive empty softgel capsules that are more adaptable and practical for uses in the pharmaceutical, nutraceutical, and cosmeceutical industries.

Due to their suitability for a variety of formulations, including liquid and solid dosage forms, and easy-to-use features when administering medications orally or through inhalation routes, various empty softgel capsules are more likely to be preferred by the pharmaceutical and nutraceutical industries.

The market is seeing the introduction of a number of softgel capsule products with cutting-edge unique capsule features, such as chewcaps, hydrophilic sandwich (HS) capsules, duocaps, etc., which are in high demand from consumers.

RESTRAINING FACTORS

"The  Complexity in Product Manufacturing Process to Impede the Market Growth"

The production process is laborious and challenging to improve (e.g., ribbon thickness, fill weight, and weight variation). Additionally, even a single broken capsule during production can cause numerous other capsules to become coated with the drug mixture. Additionally, this can take place while being stored in multipurpose containers like high-density polyethylene (HDPE) bottles.

Soft Gelatin Capsules Market REGIONAL INSIGHTS

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"Asia Pacific to Lead the Market with the Rapid Growth and Potential Manufacturers"

With approximately a quarter of the global market share for soft gelatin capsules, the Asia Pacific region is recognized as having the fastest expanding market. Factors contributing to the region's rapid growth include the huge number of generic drug producers in China and India, the rising need for affordable treatments, the booming economy, and the expansion of contract manufacturing businesses. The soft gelatin capsules market growth is projected to be boosted by the increase in spending on personalized medication and the implementation of high-tech softgel production methods.

KEY INDUSTRY PLAYERS

"Notable Players to contribute towards the market growth"

The top notch players of the market share are implementing and applying varied front end and back end strategies  to exceed and expand their empire.

List of Market Players Profiled

• Catalent (U.S.A)
• Aenova (U.S.A)
• Nature’s Bounty (U.S.A)
• Procaps (U.S.A)
• Aland (India)
• EuroCaps (Europe)
• Strides Pharma Science (India)
• Soft Gel Technologies (U.S.A)
• Amway (U.S.A).

REPORT COVERAGE

The report covers the information on the advancement outlooks with new inventions and SWOT analysis.The market elements situation, with the development areas of the market in the upcoming years. Market segmentation information including the subjective and quantitative research including the effect of financial and strategy viewpoints are discussed in the report. The report also disseminates the information on the regional and nation level assessment incorporating the demand and supply dominators that are affecting the development of the market. The competitive landscape including market share of major players, along with the new research methodologies and strategies adopted by players for the  forecasted period is listed in the report.