Softgel Capsules Market
The global Softgel Capsules Market Size was valued at $1.1 billion in 2023 and is projected to reach $1.5 billion by 2028, growing at a CAGR of 6.3%. This new research study analyzes industry trends, pricing, patents, conferences, webinars, key stakeholders, and buying behavior. Market growth is driven by the benefits of softgel capsules, increased demand for dietary supplements and nutraceuticals, and a preference for naturally sourced ingredients. However, cultural restrictions may limit market acceptance.
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On the basis of material type, the global softgel market is divided into gelatin, and other materials (such as carrageenan, hydroxypropyl methylcellulose (HPMC), pullulan, and starch-glycerin. In 2022, the gelatin segment accounted for the largest market share. Factors such as the advantages of soft gelatin capsules, such as no taste, unit dose delivery, easy to swallow, tamper-proof, and availability in a wide range of shapes, colors, and sizes, and growing demand for health supplements are supporting the growth of this market. In extension to this the growth of raw materials used for softgel capsules.
On the basis of source, the global softgel capsules market has been divided into porcine, bovine, and other sources (including poultry, marine, and plant sources). In 2022, bovine segment accounted for the largest share of softgel capsules market. Bovine softgels are known for their soft and flexible texture, which make them easy to swallow and digest and the abundance and easy availability of bovine are supporting its growth in the market. Strong emphasis on the launch of new products in the market specifically for softgels is further likely to have a positive impact on the market growth.
On the basis of application, the global softgel capsules market is divided into pharmaceutical, nutraceutical and dietary supplement, and cosmetics & personal care industries. In 2022, nutraceutical and dietary supplement industry segment accounted for the largest market share. Factors such as the icreasing consumer preference for capsule-based nutraceutical formulations is one of the major factors driving the growth of softgel capsules market for the nutraceutical industry. In addition, the growing demand for specialized dietary supplements is driving innovation in the softgel capsules market.
On the basis of region, the softgel capsules market has been segmented into, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, Europe accounted for the largest share of the softgel capsules market followed by North America. Factors such as changes in consumer lifestyles, growth in pharmaceutical industry and the presence of major capsule manufacturers and pharmaceutical giants in the region, such as Gelita AG (Germany), PB Leiner (Belgium), Weishardt SA (France), and Lapi Gelatine S.p.a. (Italy). This is expected to support the growth of softgel capsules market.
Key players in the softgel capsules market are Gelita AG (Germany), PB Leiner (part of Tessenderlo Group) (Belgium), Nitta Gelatin, Inc. (Japan), Sterling Gelatin and Croda Colloids (India), Narmada Gelatines Limited (India), Italgel S.r.l. (Italy), Darling Ingredients Inc. (US), Lapi Gelatine S.p.a. (Italy), Trobas Gelatine B.V. (Netherlands), Weishardt (France), India Gelatine & Chemicals Ltd. (India), Xiamen Gelken Gelatin Co., Ltd. (China), Gelco International (Brazil), Boom Gelatin (China), Geliko LLC (US), Kenney & Ross Limited Marine Gelatin (Canada), Baotou Dongbao Bio-Tech Co., Ltd. (China), Jellice Gelatin & Collagen (Netherlands), Athos Collagen Pvt. Ltd. (India), Kubon Biotechnology Co., Ltd. (Cambodia), C.J. Gelatine Products Limited (India), American Gelatin (US), and Geltech (South Korea).
Recent Developments of Softgel Capsules Industry
In March 2023, Darlings Ingredients Inc. acquired Gelnex, which is a global producer of gelatin and collagen products. This acquisition would give the company the capacity to serve the growing needs of its collagen customers while continuing to serve the growing gelatin market.Thermo fisher launched Tumoroid Culture Medium to accelerate development of novel cancer therapies.
In November 2022, PB Leiner established a joint venture with D&D Participações Societárias. Under the terms of this joint venture, D&D Participações Societárias will acquire a minority stake in the shares of the Brazilian plant of PB Leiner (PB Brasil Industria e Comercio de Gelatinas Ltda). The combined strength of the two companies will enable a long-term sustainable offering of a premium product range of beef hide gelatin based on PB Leiner’s technology.
In October 2022, PB Leiner extended the gelwoRx Dsolve pharmaceutical portfolio with the launch of three new products—Dsolve B, Dsolve P, and Dsolve xTRA. Dsolve P (pig skin) and Dsolve B (beef hide) are specially developed to reduce cross-linking and fast dissolution of soft capsules. Dsolve xTRA (bovine bone) promises to perform better than Dsolve, Dsolve P, and Dsolve B.
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https://www.marketsandmarkets.com/ResearchInsight/softgel-capsules-market-size-and-share.asp
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