The softgel capsule market is witnessing high growth owing to rising use of softgel capsules for consumption of various nutritional supplements and medicines across the globe. Softgel capsules are easy-to-swallow, provide enhanced taste masking and protect active ingredients from degradation by stomach acid. Softgels are increasingly preferred over conventional tablets and pills due to their superior absorption abilities.
The global softgel capsule market is estimated to be valued at US$ 7849.85 Mn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the softgel capsule market are Catalent, Inc., Aenova Group GmbH, Sirio Pharma Company Ltd, Captek Softgel International Inc., Elnova Pharma, Fuji Capsule Co., Ltd., Capsugel, EuroCaps Ltd, Guangdong Yichao Biological Co., Ltd., Hunan ER-KANG Pharmaceutical Co Ltd, KD Pharma Group, United Laboratories, Soft Gel Technologies, Inc., Windzor Pharma Ltd, ZYUS Life Sciences Inc., and EuroCaps.
Key opportunities: Growing demand for softgel capsules from nutraceuticals and pharmaceutical industries in emerging economies offer significant growth opportunities to players. Moreover, innovations in filler technologies to improve bioavailability of active ingredients will further support the market.
Global expansion: Key manufacturers are expanding their production facilities globally especially in Asia Pacific and Latin America to leverage growth opportunities. Moreover, strategic partnerships with pharmaceutical companies support global expansion.
Market drivers: The growing Softgel Capsule Market Demand from pharmaceutical industry owing to advantages like ease of consumption, taste masking and enhanced bioavailability is a major market driver. Rising health consciousness and preference for supplements and nutraceuticals is further propelling the market growth.
PEST Analysis
Political: Softgel capsule market is regulated by various international and domestic laws regarding production, packaging, labelling and distribution of pharmaceutical and dietary supplement products. New regulations can influence the growth of this market.
Economic: Changes in global and regional economy impacts consumer spending on healthcare and dietary supplements. Economic stability helps the market grow steadily whereas recession can hamper growth of softgel capsule market.
Social: Rising income levels and health awareness among consumers in emerging economies is creating demand for softgel capsules containing vitamins, supplements and other drugs. Ageing population in developed nations also contributes to market growth.
Technological: Companies are focusing on development of advanced manufacturing technologies to improve production efficiency of softgel capsules. They are also leveraging technologies like traceability solutions and serialization to enhance supply chain transparency and safety.
Geographical regions with high market concentration in terms of value includes North America and Europe due to rising healthcare spending and availability of advanced softgel capsule production facilities in these regions. Asia Pacific region is forecasted to be the fastest growing market during the period owing to increasing income levels, expansion of pharmaceutical industry and rapid economic development in major countries like India and China.
The softgel capsule manufacturing facilities are concentrated in certain regions due to availability of raw material sources, pharmaceutical manufacturing infrastructure, technical expertise and larger domestic market. North America has significant number of production sites and the region accounts for over 35% revenue share of global market. Europe is another major manufacturing hub with many leading companies having their production bases to cater European and other international markets. Asia Pacific region is emerging as an important manufacturing location for generic drugs and dietary supplements production.
Get more insights on Softgel Capsule Market
Also read related article on Lactulose Market
For Deeper Insights, Find the Report in the Language that You want
Comments on “Softgel Capsule Market Estimated to Witness High Growth Owing to Rising Demand from Pharmaceutical Industry”