Softgel capsules have been derived using gelatin as the major raw material, since years. Investments by manufacturers in research & development activities and advancements in technology have led to the development and usage of other sources for producing softgel capsules that are vegetarian in nature, and also provide seamless manufacturing procedures for softgel capsules.
The market of health-conscious consumers seeking natural, 'green' products is booming. More than 50 percent of consumers are willing to pay a premium price for a natural product, and nearly half say that they are willing to pay more for organic products, which is expected to drive demand for vegetarian softgel capsules (HPMC, starch, and pullulan softgel capsules), thereby expanding the global softgel capsules market size.
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- Aenova Group GmbH
- Fuji Capsule Co., Ltd.
- Sirio Pharma Company Limited
- Captek Softgel International Inc
- Catalent, Inc.
- EuroCaps Ltd (part of DCC Plc)
- Guangdong Yichao Biological Co., Ltd
- Elnova Pharma
- Hunan Er-Kang Pharmaceutical Co., Ltd
Softgel Capsules Market Trends
Growing Demand from Health-conscious Consumers: Sports nutrition is no longer only followed by professional athletes and weightlifters. Global events, marathons, gym-goers, and games have all together thrown sports into the spotlight, and rising interest in fitness and body image has made brands reposition themselves in providing products for a healthy lifestyle.
Rising interest among consumers toward health consciousness is likely to outnumber and outweigh professional athletes. Thus, retailers are keeping more shelf space for sports nutrition products. This gives sport supplement manufacturers the opportunity to market sports nutrition products to a vast and varied consumer base in an oral dosage format – softgel capsules, globally.
Adoption of Novel Technologies by Manufacturers to Drive Demand: Manufacturers are undertaking various endeavors to provide unique empty softgel capsules that are more versatile and convenient for pharmaceutical, nutraceutical, and cosmeceutical industry applications.
Preference of pharmaceutical and nutraceutical industries is more likely to be inclined toward various empty softgel capsules because of their suitable properties for different formulations such as liquid and solid dosage forms, and easy-to-use features while administrating drugs orally or through inhalation routes.
Various softgel capsule products are entering the market with advanced novel capsule features, such as chewcaps, hydrophilic sandwich (HS) capsules, duocaps, etc., which are witnessing significant demand from end users.
Various Growth Strategies by Market Players: The trend to use novel technologies for filling liquids and semi-solids into softgel capsules in pharmaceutical, cosmeceutical, and nutraceutical companies is expected to drive revenue of the empty softgel capsules market over the forecast period.
Companies manufacturing halal softgel capsules are obtaining halal certifications from the Islamic Food and Nutrition Council of America (IFANCA), to capture a share in the markets in Muslim-dominated countries. Countries such as Malaysia and Indonesia are currently looking, both, to imported and domestic products that contain gelatin, but which have been produced using halal-certified ingredients.
However, a few companies are maintaining their product portfolio with only hard and soft gelatin capsules. These companies can expect robust incremental growth opportunities if they expand their product portfolio with softgel capsules, vegetarian capsules, and other plant-sourced gelatin capsules.
Product Line Expansion to Create Lucrative Growth Opportunities for Manufacturers of Softgel Capsules: Manufacturers in the softgel capsules market place are upping their product offerings with a wide range of vegetarian softgel capsules with enhanced properties such as better resistance to gastric acid, faster disintegration, enteric coating, and customized capsules for clinical trials, to augment their market share.
For instance, some companies are manufacturing variants of vegetarian softgel capsules such as pullulan capsules, starch capsules, and HPMC capsules. According to PMR, this may lead to increased product customization and further help boost the demand for softgel capsules across the nutraceutical, pharmaceutical, and cosmeceutical sectors. However, a few companies operating in the global softgel capsules market have stuck to their original product portfolio of soft and hard gelatin capsules.
PMR recommends that these companies expand their product suites to include softgel capsules, vegan capsules, and plant-based gelatin capsules to benefit from the incremental growth opportunities present in the global softgel capsules market.
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Regional Outlook of Softgel Capsules Market
On the basis of region, Europe is anticipated to dominate the global softgel capsules market share in 2020. Europe and North America are expected to gain significant market share in revenue terms in the softgel capsules market over the coming years. Moreover, the softgel capsules market in Asian countries is projected to exhibit lucrative growth opportunities during the forecast period.
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COVID-19 Impact on Softgel Capsules Market
The ongoing COVID-19 pandemic has affected most sectors and countries across the world. Cosmeceutical, nutraceutical, and pharmaceutical companies, which are the main end users of softgel capsules, have been affected to by the spread of the virus, due to trade restrictions and lockdowns. Priority, at present, is being given to containing the spread of the virus, which will lead to short-term sluggish growth of the softgel capsules market.
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The global softgel capsules market is projected to expand at a steady CAGR of around 3.5% over the forecast period of 2020 to 2030. Market players can look to Europe, North America, and Asia Pacific for lucrative opportunities, so as to increase their sales and profit margins. Product line expansion could also be a good growth strategy for stakeholders in the global softgel capsules market space.
Key Segments of Global Softgel Capsules Market
PMR’s report on the global softgel capsules market offers information divided into five segments – product, raw material, end user, application, and region.
Key Questions Answered in PMR’s Global Softgel Capsules Market Report
- Which region will hold the highest market share in the global softgel capsules market during the forecast period?
- Which region is experiencing the highest growth (CAGR)?
- Which factors are impacting the global softgel capsules market?
- What are the global trends impacting the softgel capsules market?
- What strategies must emerging players adopt to capture opportunities in various regions in the softgel capsules market?
- What is the market structure of the global softgel capsules market?