GVR Report cover Softgel Capsules Market Size, Share & Trends Report

Softgel Capsules Market Size, Share & Trends Analysis Report By Type (Gelatin/Animal, Non-animal), By Application, By End Use (Pharmaceutical, Nutraceutical, Cosmeceutical & CMO), By Region, And Segment Forecasts, 2022 - 2030

  • Published Date: May 2022
  • Report ID: GVR-4-68039-637-3
  • Number of Pages: 136
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2020

Report Overview

The global softgel capsules market size was valued at USD 7.62 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 7.9% from 2022 to 2030. Ease of swallowing, odor and taste masking, improved absorption, enhanced bioavailability, and high atmospheric stability are some of the advantages of softgel capsules. Advancements in manufacturing technology and the introduction of new materials have added more features to the traditional capsules such as controlled drug release, tamper-evident, and formulation choice of potent APIS due to reduced degradation in stomach pH, appealing aesthetics, and longer shelf life.

Japan softgel capsules market, by type, 2020 - 2030 (USD Million)

In recent times, softgel manufacturers are focusing on developing non-gelatin-based capsules using plant-based polymers. Starch, HPMC, and gums such as Pullulan. Gelatin-free capsules satisfy the medicinal needs of vegetarians. Technical benefits for manufacturers and suppliers, and reduced animal stock waste is the leading advantage of non-gelatin-based capsules. Additionally, vegetable capsule launched by the companies like Aenova, increased their sales revenue by a double-digit percentage. Eurocaps is developing a chewable softgel capsule that provides improved taste masking capacity. Other market leaders like Catalent and Roquette are developing vegan capsules to enhance their market reach among the vegan population of the globe.

 Post the outbreak of the COVID-19 pandemic, most companies began research to develop oral vaccines. Softgel capsule leader, Catalent, collaborated with a leading clinical-stage immunotherapy company, to fulfill the alarming needs for oral vaccines. Additionally, studies are undertaken to determine whether the administration of vitamin D capsules reduces the severity of mild and severe respiratory discomfort associated with SAR-Cov-2 virus infection. The pandemic differently impacted the nutraceutical industry and pharmaceutical industry.

The nutraceutical industry saw a rise during this period due to improved vitamin, nutrients, and other health supplement consumption. Product launches by growing nutraceutical companies using special capsule designs, and increased adoption of vegan and vegetarian capsule options have led to the increasing demand for nutraceuticals. Adoption of a healthier lifestyle surged the vitamin capsules market demand with a demographic shift toward the geriatric population.

The market witnessed a significant boost in sales due to the pandemic. Furthermore, the rise in improved research to develop capsules for potent and critical drug molecules to overcome bioavailability issues, the development of capsules for drugs needing multi excipients like oncology medicines, and patient preference towards capsules over other oral dosage forms, are the factors influencing the market growth.

Type Insights

The gelatin-based/ animal-based segment accounted for the largest share of 72.5% in 2021. Over 80 years, gelatin is the choicest excipient of manufacturers due to its unparallel advantages over any other excipient. Ease of digestion, tamper-evident capsule production, superior mechanical resistance and seal quality, patient compliant, abundant resource availability, and inert, and clean label raw material, are the factors responsible for its wide acceptance in the market.

Nowadays, manufacturers are developing capsules using a combination of bovine and porcine gelatin due to their unique properties. Gelatin extracted from bovine enhanced capsule firmness and that from porcine provides plasticity and clarity characteristics to the formulation. Despite the advantages of gelatin-based capsules, non-animal-based capsules showcased a high CAGR of 9.2% during the forecast. Inclination towards vegan options for medication especially post-outbreak of the COVID-19 pandemic, increased adoption by vegetarian consumers, and growing research by leading market players are likely to boost the market growth.

Application Insights

The vitamins and dietary supplements segment accounted for the largest share of 26.3%. Vitamins are prone to atmospheric oxidation and degradation when formulated as tablets or gummies. Hence, softgel capsules are the best formulation choice, as it protects from UV radiation and oxidation ultimately improving their shelf life. Studies suggest that vitamins when administered in softgel capsule form are more quickly absorbed in the bloodstream than in a tablet formulation. Owing to such advantages, vitamins are majorly sold in the softgel capsule form, establishing its large market size in the application segment. Interestingly, the segment registered the highest CAGR of 8.9% during the forecast period. Due to the onset of the pandemic, countries like USA and India witnessed a rise in sales of Vitamin C and D, by approximately 89% from 2019.

Health supplements held the second position in the application segment due to the increased adoption of a healthy lifestyle among the masses to tackle the pandemic. Wide acceptance of pre and post-natal capsules, and inclination towards tasteless medication, led to the increase in sales of softgel capsules, enhancing pregnancy market growth. Anti-biotic and antibacterial drugs, antacid and anti-flatulent preparations, anti-inflammatory drugs, anti-emetic preparations, and cough and cold preparations, established descending market share, respectively.

 Manufacturer Insights

The nutraceutical segment accounted for the largest share of 38.0% in 2020. Nutraceutical companies mainly focus on developing vitamins, minerals, and health supplements. Thus, softgel formulation is largely developed to keep up with the rising need for nutraceutical products. The formulations account for nearly 31% of the total revenue of most nutraceutical manufacturers. Increasing awareness of health supplements among developing nations, a growing number of production houses, and a surge in sales due to the COVID-19 pandemic have led to its high growth and large market share. Pharma established the second largest share in this segment due to increased collaboration with SMEs and outsourcing of softgel capsules, which directly influenced the growth of the Contract Manufacturing Organization (CMO) segment. The growing need for skin and hair care products has surged the softgel capsule production in the cosmeceutical market.

Global softgel capsules market, by type, 2021 (%)

Regional Insights

North America accounts for the largest share of 29.13% in the Softgel market in 2021. Improved production technology, presence of major players within the region, and increased expenditure on R&D to widen their product portfolio. Additionally, the presence of health-conscious consumers and the presence of pharma leaders in the region, are the leading factors responsible for the largest market share. However, APAC is established to be the fastest-growing market at a CAGR of 8.7%. The enormous presence of generic medicine manufacturers in China and India, increasing demand for cost-efficient therapeutics, rapidly growing economical conditions, and rise in contract manufacturing organizations within the region, are factors responsible for its high growth. The rise in personalized medicine expenditure and the adoption of high-tech processing to improve the production of softgels are likely to boost the European market growth.

Key Companies & Market Share Insights

The market is highly fragmented due to the presence of contract manufacturers and SMEs across the globe. Outsourcing of softgel capsules is the leading trend adopted by large manufacturers, reducing their burden of equipment expenditure, and ensuring a competitive sales price to adhere in the competitive market. Research to develop capsule in capsules, tablets in capsules, and controlled release medication for critical drugs, is undertaken by market leaders to strengthen their product portfolio and maintain market position. Manufacturers in the market are focusing on acquiring a strong position by strengthening their manufacturing capabilities. For instance, in April 2022, Catalent acquired a facility in Oxfordshire to expand biologics capabilities in the U.K. and across Europe Some of the prominent players operating in the global softgel capsules market include:

  • Fuji Capsules Co Ltd

  • Sirio Pharma

  • Captek

  • Patheon

  • Catalent

  • Eurocaps

  • Aenova

  • Capsugel

  • Procaps Laboratories

  • Soft Gel Technologies Inc.

 Softgel Capsules Market Report Scope

Report Attribute

Details

The market size value in 2022

USD 7.67 billion

Revenue forecast in 2030

USD 13.09 billion

Growth rate

CAGR of 7.9% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, application, manufacturer, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Norway; Sweden; Russia; Japan; India China; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Turkey

Key companies profiled

Fuji Capsules Co Ltd; Sirio Pharma; Captek; Patheon; Catalent; Eurocaps; Aenova; Capsugel; Procaps Laboratories; Soft Gel Technologies Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global softgel capsules market report based on type, application, manufacturers, and region:

  • Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Gelatin /Animal based

    • Non-animal based

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • Antacid & Anti-flatulent Preparations

    • Anti-anemic Preparations

    • Anti-inflammatory Drugs

    • Antibiotic & Antibacterial Drugs

    • Cough & Cold Preparations

    • Health Supplement

    • Vitamin & Dietary Supplement

    • Pregnancy

  • Manufacturers Outlook (Revenue, USD Million, 2017 - 2030)

    • Pharmaceutical Companies

    • Nutraceutical Companies

    • Cosmeceutical Companies

    • Contract Manufacturing Organizations

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Norway

      • Sweden

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

      • Thailand

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • Turkey

      • UAE

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