The global Softgel Capsules Market size is estimated to reach USD 9.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.0% from 2021 to 2028. Softgel capsules are proven to be the choice of formulation for poorly soluble drugs and enhance absorption time of most drug molecules. Its advantages over tablets and other oral formulations have led to the increased adoption of softgel capsules across the globe. Ease of swallowing, taste masking, improved bioavailability, non-reactive, aesthetically appealing, and longer shelf life are the factors influencing its wide acceptance.
Leading players like Catalent, Eurocaps, and many others, are developing vegan capsules to broaden their vegan consumer base as softgel capsule segment registers nearly 40.0% of their overall revenue. Large Pharma companies like Pfizer, Novartis, Bayer, Procter and Gamble, collaborate with leading Contract Manufacturing Organizations (CMOs) to provide cost-effective products in the highly competitive market. Research to develop oral vaccines to treat respiratory infection caused by the SaRS-CoV-2 virus has fueled the R&D of softgel manufacturers. Additionally, the shift towards a healthier lifestyle and immunity-boosting vitamins, have also surged the softgel market post-outbreak of the COVID-19 pandemic.
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Softgel Capsules Market Report Highlights
- The gelatin segment accounted for the largest revenue share in 2020 due to its advantages over any other excipient in the excipient industry
- The vitamins and dietary supplements segment held the largest share in 2020 in the application outlook
- Nutraceutical held the largest revenue-generating segment in manufacturer market, owing to the Increasing awareness of health supplements among developing nations and growing number of production houses, and surge in sales due to Covid-19 pandemic
- North America held the largest share in the market due to the Improved production technology, presence of major players within the region and increased expenditure on R&D to widen their product portfolio