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Softgel Capsules market Size, Share, demand, growth
PORTLAND, OREGON, UNITED STATES, September 30, 2024 /EINPresswire / -- The global softgel capsules market is expanding at a significant rate, driven by technological advancements and shifting consumer preferences. Here's a breakdown of the current state of the market:
Key Market Insights
.Market Size & Forecast:
.2021: Valued at $4.4 billion
.2031: Projected to reach $7.5 billion
.Growth Rate: CAGR of 5.4% from 2022 to 2031
.Growth Drivers:
.Rapid expansion of e-commerce
.Increased government healthcare spending
.Rising demand for health supplements
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Market Challenges
.High Cost: Softgel capsule production remains expensive, limiting market growth.
.Price Sensitivity: The cost of production and raw materials remains a barrier for expansion in certain regions.
Emerging Opportunities
.Vegan Market: Increasing demand for non-gelatin, plant-based capsules is creating opportunities for growth, especially among vegan consumers.
.Emerging Markets: Growth potential in Asia-Pacific and other developing regions due to rising disposable incomes and expanding healthcare infrastructure.
Product Overview
.Softgel Capsules:
.Made from gelatin or plant-based alternatives such as starch and cellulose
.Ideal for liquid or semi-solid formulations
.Non-gelatin capsules cater to the growing vegan and health-conscious market
Factors Driving Market Growth
.R&D Investments: Continuous research in softgel applications and formulations
.Preventive Healthcare: Growing consumer awareness about immune-boosting supplements
.Geriatric Population: Aging populations are increasingly using supplements to enhance well-being
Impact of COVID-19
.Softgel capsules, particularly those containing vitamins and immune-boosting ingredients, saw a surge in demand during the pandemic. This trend has supported the market's recovery and growth.
Market Segmentation
.By Type:
.Gelatin Softgel Capsules: Dominates the market
.Non-Gelatin Softgel Capsules: Gaining traction due to the vegan and vegetarian movement
.By Application:
.Pharmaceuticals: Treatment-oriented softgels
.Health Supplements: Increasing use in immune support and overall health maintenance
.Cosmetics: Growing interest in beauty-related supplements
.By Distribution Channel:
.Pharmacies & Drug Stores: Largest share due to accessibility and trust
.Online Providers: Rapid growth thanks to e-commerce
.By Region:
.North America: Largest market share in 2021, driven by consumer demand for health supplements
.Asia-Pacific: Fastest-growing region due to emerging economies, increasing disposable income, and contract manufacturing
Competitive Landscape
.Major players include Aenova Group, Catalant Inc., Captek Softgel International, Thermo Fisher Scientific, and Sirio Pharma. Companies are focusing on product innovations, expanding vegan offerings, and investing in R&D to stay competitive.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.