Softgel Capsules Market Size to Attain 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 have emerged as a popular dosage form in the pharmaceutical and nutraceutical industries due to their numerous advantages over traditional solid dosage forms. These capsules are made from a gelatin-based shell filled with liquid or semi-solid active ingredients. The global softgel capsules market has witnessed significant growth in recent years, driven by increasing consumer demand for convenient and easy-to-swallow dosage forms, along with advancements in capsule manufacturing technologies. Market players are continuously innovating to meet the diverse needs of consumers, leading to a wide range of formulations and customization options in the softgel capsules 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 growing consumer preference for softgel capsules due to their ease of swallowing, better bioavailability, and enhanced stability of sensitive or volatile ingredients. Moreover, the rise in chronic diseases and the aging population globally have increased the demand for pharmaceutical products, including softgel capsules, as they offer precise dosing and targeted delivery of medications. Additionally, the expanding nutraceutical industry, driven by increasing health consciousness among consumers, has bolstered the demand for softgel capsules as a preferred dosage form for dietary supplements and vitamins.

Region:

The softgel capsules market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America holds a significant share of the market, attributed to the presence of key pharmaceutical and nutraceutical companies, robust healthcare infrastructure, and high consumer awareness regarding health and wellness products. Europe follows closely, driven by advancements in capsule technology and a growing aging population seeking convenient dosage forms. The Asia Pacific region is expected to witness rapid growth due to increasing healthcare expenditure, rising disposable incomes, and a shift towards preventive healthcare practices in emerging economies like China and India.

Drivers:

Several drivers propel the growth of the softgel capsules market. The pharmaceutical industry's continuous focus on research and development to enhance drug delivery systems and improve patient compliance is a major driver. Softgel capsules offer advantages such as better stability, protection of sensitive ingredients, and controlled release, making them an ideal choice for delivering both prescription and over-the-counter medications. Furthermore, the expanding application of softgel capsules in cosmetic and personal care products, coupled with the rising trend of novel formulations in the beauty industry, is expected to fuel market growth.

Restraints:

Despite the promising growth prospects, the softgel capsules market faces certain challenges. One of the primary restraints is the high manufacturing cost associated with softgel capsules compared to conventional solid dosage forms. The production process involves specialized equipment and technology, as well as stringent quality control measures, which contribute to higher production expenses. Additionally, concerns regarding the use of animal-derived gelatin in capsule shells have led to the development of alternative vegetarian or vegan-friendly capsules, adding complexity and cost to the manufacturing process.

Opportunities:

Despite the challenges, the softgel capsules market presents several opportunities for growth and innovation. With increasing consumer demand for natural and plant-based products, there is a growing focus on developing softgel capsules using alternative polymers derived from sources such as seaweed or cellulose. This opens up new avenues for manufacturers to cater to the preferences of health-conscious consumers seeking plant-based alternatives. Moreover, the integration of advanced technologies such as 3D printing and nanotechnology in capsule manufacturing holds the potential to enhance product efficacy, customization, and cost-efficiency, driving further market expansion.

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.