April 16, 2024

Softgel Capsules Market Size to Rake USD 17.19 Billion by 2033

The global softgel capsules market size was valued at USD 8.71 billion in 2023 and is projected to reach around USD 17.19 billion by 2033 with a CAGR of 7.03% from 2024 to 2033.

Softgel Capsules Market Size 2024 to 2033

Key Points

  • North America led the market with the largest market share of 43% in 2023.
  • By type, the gelatin-based/animal-based segment has accounted biggest market share in 2023.
  • By application, the vitamins and dietary supplements segment held the largest share of the market in 2023.
  • By end-use, the nutraceutical companies segment has contributed more than 38% of market share in 2023.

The global softgel capsules market has witnessed significant growth in recent years, driven by the rising demand for convenient and easy-to-swallow dosage forms in the pharmaceutical and nutraceutical industries. Softgel capsules, characterized by their soft and flexible outer shell, offer numerous advantages over traditional dosage forms such as tablets and hard capsules. These advantages include enhanced bioavailability, better stability of sensitive ingredients, and improved patient compliance. As a result, softgel capsules have become increasingly popular among consumers and manufacturers alike, fueling the expansion of the global market.

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Growth Factors

Several factors contribute to the growth of the softgel capsules market. One of the primary drivers is the increasing prevalence of chronic diseases worldwide, which has led to a growing demand for pharmaceutical products. Softgel capsules are preferred for administering drugs that require controlled release formulations or those with poor solubility, making them a preferred choice for formulating various medications. Additionally, the rising consumer awareness regarding preventive healthcare and the importance of dietary supplements has spurred the demand for nutraceutical products encapsulated in softgel capsules. Moreover, advancements in technology have led to the development of innovative formulations and manufacturing processes, further propelling market growth.

Region Insights

The softgel capsules market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominates the market owing to the presence of a well-established pharmaceutical and nutraceutical industry, along with a high adoption rate of softgel capsules among consumers. Europe follows closely, driven by the increasing demand for dietary supplements and herbal products. The Asia Pacific region is expected to witness the fastest growth due to the expanding pharmaceutical sector in countries like China and India, coupled with the rising disposable income and growing health consciousness among the population.

Softgel Capsules Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 7.03%
Global Market Size in 2023 USD 8.71 Billion
Global Market Size by 2033 USD 17.19 Billion
U.S. Market Size in 2023 USD 2.81 Billion
U.S. Market Size by 2033 USD 5.54 Billion
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Type, By Application, and By End-use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Softgel Capsules Market Dynamics

Drivers

Several drivers contribute to the growth of the softgel capsules market. Firstly, the aging population globally has led to an increased incidence of chronic diseases, driving the demand for pharmaceuticals encapsulated in softgel capsules due to their ease of swallowing and enhanced bioavailability. Additionally, the rising consumer preference for natural and organic products has boosted the demand for softgel-encapsulated nutraceuticals, including vitamins, minerals, and herbal supplements. Furthermore, the expansion of the pharmaceutical and nutraceutical industries, coupled with advancements in formulation technologies, is expected to fuel market growth in the coming years.

Restraints

Despite the promising growth prospects, the softgel capsules market faces certain challenges that may hinder its expansion. One such restraint is the stringent regulatory requirements imposed by government agencies on the manufacturing and marketing of pharmaceutical and nutraceutical products. Compliance with these regulations adds to the production costs and may deter small-scale manufacturers from entering the market. Moreover, the presence of alternative dosage forms such as tablets, powders, and liquid formulations poses a competitive challenge to softgel capsules, particularly in terms of pricing and consumer preference.

Opportunities

Despite the challenges, the softgel capsules market offers lucrative opportunities for manufacturers and investors. The increasing adoption of softgel capsules for veterinary and pet health applications presents a significant growth opportunity, driven by the growing pet population and the rising trend of pet humanization. Additionally, the expanding e-commerce sector and the growing preference for online purchasing of healthcare products offer a platform for market players to reach a wider consumer base and expand their geographical presence. Furthermore, research and development activities aimed at enhancing the functionality and efficacy of softgel capsules through innovative formulations and ingredients present avenues for future growth and differentiation in the market.

Read Also: Smart Home Healthcare Market Size to Rise USD 212.55 Bn by 2033

Recent Developments

  • In May 2022, the launch of SOLFEROL Softgel Capsules, a line of reimbursed vitamin D3 medications, for the treatment of vitamin D insufficiency was announced by Windzor Pharma Ireland Ltd. This product has the broadest array of presentations available on the market, with two distinct strengths: 400 IU for treating expectant and nursing mothers and 20,000 IU for those with severe vitamin D3 deficiency.
  • In December 2023, Amneal Pharmaceuticals and Strides Pharma Science Limited announced the launch of Icosapent ethyl acid soft gel capsules, a product that refers VASCEPA. Strides, a multinational pharmaceutical producer, has granted an in-license for the medicine, which Amneal will begin marketing in the fourth quarter of 2023. An ethyl ester of eicosapentaenoic acid (EPA), isicosapent ethyl acid soft gel capsules, 0.5g and 1g, are recommended as a dietary supplement to lower triglyceride levels in adult patients with severe (≥ 500 mg/dL) hypertriglyceridemia.

Softgel Capsules Market Players

  • CAPTEK Softgel International Inc.
  • Sirio Pharma Co., Ltd.
  • Fuji Capsule
  • Thermo Fisher Scientific Inc.
  • EyePoint Pharmaceuticals, Inc.
  • EuroCaps
  • Catalent, Inc.
  • Aenova Group
  • ProCaps Laboratories, LLC
  • Lonza Capsules & Health Ingredientss
  • Soft Gel Technologies, Inc.

Segments Covered in the Report

By Type

  • Non-Animal-Based
  • Gelatin-Based/Animal-Based

By Application

  • Anti-Inflammatory Drugs
  • Antacid and Anti-Flatulent Preparation
  • Antibiotic and Antibacterial Drugs
  • Cough and Cold Preparations
  • Anti-Anemic Preparations
  • Vitamin and Dietary Supplement
  • Health Supplement
  • Pregnancy

By End-use

  • Cosmeceutical Companies
  • Nutraceutical Companies
  • Pharmaceutical Companies
  • Contract Manufacturing Organizations

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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