The global softgel capsules market is projected to reach USD 1.5 billion by 2028 from USD 1.1 billion in 2023, at a CAGR of 6.3% during the forecast period. Factors such as advantages of softgel capsules, growing demand for nutraceuticals and dietary supplements, and growing demand for naturally sourced ingredients.However, restricted acceptance due to cultural restrictions is expected to hinder the growth of this market.
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On the basis of material type, the global softgel market is divided into gelatin, and other materials (such as carrageenan, hydroxypropyl methylcellulose (HPMC), pullulan, and starch-glycerin. In 2022, the gelatin segment accounted for the largest market share. Factors such as the advantages of soft gelatin capsules, such as no taste, unit dose delivery, easy to swallow, tamper-proof, and availability in a wide range of shapes, colors, and sizes, and growing demand for health supplements are supporting the growth of this market. In extension to this the growth of raw materials used for softgel capsules.
On the basis of source, the global softgel capsules market has been divided into porcine, bovine, and other sources (including poultry, marine, and plant sources). In 2022, bovine segment accounted for the largest share of softgel capsules market. Bovine softgels are known for their soft and flexible texture, which make them easy to swallow and digest and the abundance and easy availability of bovine are supporting its growth in the market. Strong emphasis on the launch of new products in the market specifically for softgels is further likely to have a positive impact on the market growth.
On the basis of application, the global softgel capsules market is divided into pharmaceutical, nutraceutical and dietary supplement, and cosmetics & personal care industries. In 2022, nutraceutical and dietary supplement industry segment accounted for the largest market share. Factors such as the icreasing consumer preference for capsule-based nutraceutical formulations is one of the major factors driving the growth of softgel capsules market for the nutraceutical industry. In addition, the growing demand for specialized dietary supplements is driving innovation in the softgel capsules market.
On the basis of region, the softgel capsules market has been segmented into, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, Europe accounted for the largest share of the softgel capsules market followed by North America. Factors such as changes in consumer lifestyles, growth in pharmaceutical industry and the presence of major capsule manufacturers and pharmaceutical giants in the region, such as Gelita AG (Germany), PB Leiner (Belgium), Weishardt SA (France), and Lapi Gelatine S.p.a. (Italy). This is expected to support the growth of softgel capsules market.
Key players in the softgel capsules market are Gelita AG (Germany), PB Leiner (part of Tessenderlo Group) (Belgium), Nitta Gelatin, Inc. (Japan), Sterling Gelatin and Croda Colloids (India), Narmada Gelatines Limited (India), Italgel S.r.l. (Italy), Darling Ingredients Inc. (US), Lapi Gelatine S.p.a. (Italy), Trobas Gelatine B.V. (Netherlands), Weishardt (France), India Gelatine & Chemicals Ltd. (India), Xiamen Gelken Gelatin Co., Ltd. (China), Gelco International (Brazil), Boom Gelatin (China), Geliko LLC (US), Kenney & Ross Limited Marine Gelatin (Canada), Baotou Dongbao Bio-Tech Co., Ltd. (China), Jellice Gelatin & Collagen (Netherlands), Athos Collagen Pvt. Ltd. (India), Kubon Biotechnology Co., Ltd. (Cambodia), C.J. Gelatine Products Limited (India), American Gelatin (US), and Geltech (South Korea).
Recent Developments of Softgel Capsules Industry
In March 2023, Darlings Ingredients Inc. acquired Gelnex, which is a global producer of gelatin and collagen products. This acquisition would give the company the capacity to serve the growing needs of its collagen customers while continuing to serve the growing gelatin market.Thermo fisher launched Tumoroid Culture Medium to accelerate development of novel cancer therapies.
In November 2022, PB Leiner established a joint venture with D&D Participações Societárias. Under the terms of this joint venture, D&D Participações Societárias will acquire a minority stake in the shares of the Brazilian plant of PB Leiner (PB Brasil Industria e Comercio de Gelatinas Ltda). The combined strength of the two companies will enable a long-term sustainable offering of a premium product range of beef hide gelatin based on PB Leiner’s technology.
In October 2022, PB Leiner extended the gelwoRx Dsolve pharmaceutical portfolio with the launch of three new products—Dsolve B, Dsolve P, and Dsolve xTRA. Dsolve P (pig skin) and Dsolve B (beef hide) are specially developed to reduce cross-linking and fast dissolution of soft capsules. Dsolve xTRA (bovine bone) promises to perform better than Dsolve, Dsolve P, and Dsolve B.
The softgel capsules industry is experiencing a significant upswing, fueled by a combination of factors that are reshaping the future of ingestible product delivery. At the forefront of this growth is the increasing demand for precise and efficient drug delivery systems, driven by advancements in pharmaceutical and nutraceutical formulations.
Softgel capsules offer a myriad of benefits that have captured the attention of consumers and manufacturers alike. These versatile capsules provide enhanced bioavailability, ensuring that active ingredients are readily absorbed by the body, leading to faster and more efficient delivery. Additionally, they offer accurate dosage control, a crucial factor in pharmaceuticals and supplements where precise dosing is paramount.
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Furthermore, the rising consumer preference for convenient and easily digestible supplements has propelled the nutraceutical segment, which is a significant driver of the softgel capsules market. With an increasing emphasis on healthy lifestyles and wellness, the demand for high-quality dietary supplements continues to soar, positioning softgel capsules as a preferred choice.
Innovations in manufacturing technologies have also played a pivotal role in the industry’s growth. Manufacturers are now able to produce softgel capsules with various colors, shapes, and sizes, catering to consumer preferences and enhancing product branding and appeal. Moreover, the industry is embracing sustainable and vegan-friendly options, aligning with the growing demand for eco-conscious and ethically sourced products.
According to a recent report by MarketsandMarkets™, the global softgel capsules market was estimated to be worth $1.1 billion in 2023 and is projected to reach $1.5 billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period. This significant growth is attributed to the numerous benefits of softgel capsules, the rising demand for dietary supplements and nutraceuticals, and the increasing preference for naturally sourced ingredients.
The softgel capsules market spans diverse sectors, including pharmaceuticals, dietary supplements, and cosmetics, with the nutraceutical and dietary supplement industry segment leading the charge in 2022. Geographically, the Asia Pacific region is anticipated to be the fastest-growing market, driven by factors such as large populations, rising health concerns, higher incomes, and government initiatives supporting the pharmaceutical industry.
As the softgel capsules industry continues to evolve, personalization and customization present significant opportunities for manufacturers to meet the unique needs of consumers. However, rising prices of raw materials remain a challenge that must be addressed to sustain long-term growth and profitability.
With its multitude of advantages, including enhanced bioavailability, accurate dosage delivery, easy swallowing, and extended shelf life, the softgel capsules market is poised to revolutionize the way we consume and deliver a wide range of products, from pharmaceuticals to supplements and beyond.
Softgel Capsules Market in terms of revenue was estimated to be worth $1.1 billion in 2023 and is poised to reach $1.5 billion by 2028, growing at a CAGR of 6.3% from 2023 to 2028 according to a new report by MarketsandMarkets™.
Softgel Capsules Market by Material, Source (Porcine, Bovine), Application (Pharmaceuticals, Nutraceuticals & Dietary Supplements, Cosmetics & Personal Care), Region(North America, Europe, APAC, Latin America, MEA) — Global Forecast to 2028
The growth of this market is majorly driven by the benefits of softgel capsules, increasing demand for dietary supplements and nutraceuticals, and rising demand for naturally sourced ingredients.
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Softgel capsules Industry Key Market Players:
Key players in the softgel capsules market include, Gelita AG (Germany), PB Leiner (part of Tessenderlo Group) (Belgium), Nitta Gelatin, Inc. (Japan), Sterling Gelatin and Croda Colloids (India), Narmada Gelatines Limited (India), Italgel S.r.l. (Italy), Darling Ingredients Inc. (US), Lapi Gelatine S.p.a. (Italy), Trobas Gelatine B.V. (Netherlands), Weishardt (France), and India Gelatine & Chemicals Ltd. (India) among others.
In 2022, the gelatin segment accounted for the largest market share of the softgel capsules market based on material type.
Based on material type, the global softgel capsules market is segmented into gelatin and other materials, such as carrageenan (natural seaweed extract), plant-derived cellulose, hydroxypropyl methylcellulose (HPMC), pullulan (obtained from the fermentation of starch), and starch-glycerin. The gelatin segment accounted for the largest market share in 2022. The rising demand for health supplements and the benefits of soft gelatin capsules, such as easy to swallow, no taste, unit dose delivery, tamper-proof, and availability in a wide range of colors, shapes, and sizes, are supporting the growth of this market. In extension the growth of raw materials used for softgel capsules.
In 2022, the bovine segment accounted for the largest share of the softgel capsules market based on source.
Based on source, the global softgel capsules market has been segmented into porcine, bovine, and other sources (including poultry, marine, and plant sources). The bovine segment accounted for the largest share of the softgel capsules market in 2022. Bovine is one of the most widely used sources to manufacture gelatin because of its abundance and easy availability. They are known for their soft and flexible texture, which makes them easy to swallow and digest. The abundance and easy availability of bovine are supporting its growth in the market.
In 2022, the nutraceutical and dietary supplement industry segment accounted for the largest market share of the softgel capsules market based on application.
Based on application, the global softgel capsules market is segmented into pharmaceutical, nutraceutical and dietary supplement, and cosmetics & personal care industries. The nutraceutical and dietary supplement industry segment accounted for the largest market share in 2022. With rising health consciousness among consumers, the demand for health supplements is rising. Thus, the growing trend of adopting healthy lifestyles is a major driver for the nutraceutical and dietary supplement industry segment.
In 2022, the Asia Pacific region is the fastest-growing region of the softgel capsules market.
The softgel capsules market is broadly divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific is the fastest growing and most dynamic market in the world and is estimated to be the most attractive regional market for softgel capsule manufacturers. Countries such as China, India, and Japan are expected to witness high growth in the market for softgel capsule raw materials because of the large population in these countries. Also, due to rising health concerns, higher incomes, and better government initiatives, the pharmaceutical market in this region is projected to grow. Together, these factors fuel the growth of the softgel capsules market in the Asia Pacific region.
Softgel Capsules Market Dynamics:
Drivers:
1. Benefits of Softgel Capsules
2. Rising demand for naturally sourced ingredients
Restraints:
1. Negative environmental impact
Opportunities:
1. Personalization and Customization
Challenge:
1. Rising prices of raw materials