Softgel Capsules Market size to exceed $13bn by 2030

Softgel capsules Market size is set to surpass USD 13 billion by 2030, according to a new research report by Global Market Insights Inc.
 

Growing health-conscious consumer base that are seeking for natural and organic medications will spur the demand for vegetarian softgel capsules. Moreover, high availability of natural raw materials will fuel the production rate. Further, increasing advancements in manufacturing technologies offers several advantages such as ease of swallowing, high absorption rate & dissolution rate, enhanced bioavailability and solubility thereby stimulating market expansion. Moreover, rising awareness initiatives regarding chronic diseases and associated treatment across the globe will drive the industry landscape.
 

The COVID-19 outbreak has positive impact on the softgel capsules market owing to high demand for immune booster. Additionally, amid pandemic, rapid demand for vitamins to strengthen immunity system has positively influence the market revenue size. In addition, rising trends for healthy lifestyle among population led to surge in demand for dietary supplements.
 

Increasing technological advancements coupled with ongoing clinical trials will fortify the market progression

Increasing number of ongoing clinical trials that supports usage of softgel capsules will spur the market statistics. Several pharmaceutical and nutraceutical organizations are focusing to develop advanced and innovative softgel capsules for better convenience and flexibility for different formulations. Additionally, several market participants are adopting novel technologies to cater unique softgel capsules with enhanced benefits will fuel market expansion.
 

High R&D investments and extensive product launches will boost the market forecasts

Softgel capsules market from vegetarian softgel capsules segment accounted for USD 771.6 million in 2021. This is attributed to rapid growth in vegan population, increasing availability of natural raw materials for new product developments. Also, rising adoption of vegetarian capsules due to rapid growth in health-conscious people seeking for natural vegan products. Furthermore, increasing R&D activities for innovative plant based softgel capsules development to fulfil market demand.
 

Browse key industry insights spread across 205 pages with 190 market data tables & 14 figures & charts from the report, “Softgel Capsules market Analysis By Type (Gelatin Based, Vegetarian Capsules), Application (Prescription Medicines {Antibiotics & Antivirals, Cough & Cold Drugs} Health & Dietary Supplements {Vitamins, Enzymes, Omega 3, Minerals}), Manufacturers (Pharmaceutical Companies, Nutraceutical Companies), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/softgel-capsules-market
 

Growing adoption of softgel capsules owing to high chronic disease burden will propel the market trends

Softgel capsules market from prescription medicine segment is poised to grow at 4.7% CAGR during forecast period owing to growing patient burden around the globe and need for effective disease treatment. Pharmaceutical organizations are expanding their product line to cater large patient base is contributed to the segment growth.  Also, high adoption of antiviral drugs softgel capsules for high dissolution rate and enhanced bioavailability will spur the business potential. Moreover, rising incidence rate of numerous infections worldwide will enhance the industry outlook.
 

Strong presence of pharmaceutical organizations catering extensive product portfolio will boost the market size

Nutraceutical companies’ segment has held around 43% revenue share in 2021 is set to register a significant CAGR through 2030 due to growing health-conscious population across the world. Moreover, rising awareness regarding healthy lifestyle globally leads to spur the demand for nutrition and dietary supplements. high availability and accessibility of desired medicines in the remote areas will bolster segment revenue size.
 

High R&D investments for new drug development in Europe will augment the industry scenario

Europe softgel capsules market is estimated to witness 5.4% CAGR during the projected timeline owing to growing investments in R&D activities to develop novel softgel capsules. Furthermore, several organizations are undertaking clinical trials for therapeutic evaluations of softgel capsules to chronic ailments. Additionally, growing aging population base in the region that are prone to several chronic diseases will propel the regional market trends. Also, increasing awareness related to plant based softgel capsules and advanced technology in developing countries will bolster overall regional market share.
 

Strategic collaboration and product launches by numerous industry players will offer competitive advantages

Some of the prominent market players operating in the softgel capsules industry include Eurocaps Ltd., Catalent Inc., Capsugel (Lonza), Aenova Group GmbH, Sirio Pharma Co., Procaps Group, Captek Softgel International Inc., Patheon, Fuji capsules Co., Ltd., Curtis Health Caps, Delpharm Evreux, Guangdong Yichao Biological Co., Ltd. and Estrellus among others. These market participants are undertaking several growth strategies including collaboration, acquisition & merger, partnership, and product launch to strengthen market share in softgel capsules industry.
 

For instance, in January 2022, Procaps has acquired a softgel capsules production unit located in Florida. These will expand its operations and development capabilities in the significant market.