Softgel Capsules Market by Material, Source (Porcine, Bovine), Application (Pharmaceuticals, Nutraceuticals & Dietary Supplements, Cosmetics & Personal Care), Region (North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2028

Europe Accounted for the Largest Share of the Softgel Capsules Market

The global softgel capsules market is projected to reach USD 1.5 billion by 2028 from USD 1.1 billion in 2023, at a CAGR of 6.3% during the forecast period.

In 2022, the gelatin segment accounted for the largest market share

Based on material type, the global softgel capsules market is segmented into gelatin and other materials (such as hydroxypropyl methylcellulose (HPMC), pullulan, carrageenan, plant-derived cellulose, and starch-glycerin. In 2022, the gelatin segment accounted for the largest market share. Gelatin softgels are made from a gelatin-based outer shell, which is a water-soluble protein derived from animal sources, typically bovine (cow), porcine (pig), and marine. The gelatin shell is filled with a liquid or semi-solid formulation containing active ingredients. The gelatin material is a key component that gives softgels their soft, flexible, and easy-to-swallow nature. Such as advantages of this segment is driving growth for the market and in extension to the growth of raw materials used for softgel capsules.

In 2022, The bovine segment accounted for the largest share of the softgel capsules market

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, the bovine segment accounted for the largest share of the softgel capsules market in 2022. 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. For instance, in 2022, PB liner extended the gelwoRx Dsolve pharmaceutical portfolio with the launch of a new product including, Dsolve xTRA, specially developed to reduce cross-linking and fast dissolution of soft caps. Also, the abundance and easy availability of bovine are supporting its growth in the market

In 2022, the nutraceutical and dietary supplement industry segment accounted for the largest market

Based on application, the global softgel capsules market is divided into pharmaceutical, nutraceutical and dietary supplement, and cosmetics & personal care industries. In 2022, the nutraceutical and dietary supplement industry segment accounted for the largest market share. Nutraceuticals are products derived from food sources. These products have medicinal properties along with health-promoting properties. As a result they are gaining importance in the daily diet of many people worldwide. With rising health consciousness among consumers, the demand for health supplements is rising. Thus, the growing trend of adopting healthy lifestyles is a major driver for the nutraceutical and dietary supplement industry segment.

Europe accounted for the largest share of the softgel capsules market

The softgel capsules market is broadly divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, Europe accounted for the largest share of 34.2% of the softgel capsules market. The large share of this region can be attributed to 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). North America held the second-largest market share in 2022. The growing emphasis on superior nutraceutical and cosmetic products has increased the demand for softgel capsules in the region.

A breakdown of the primary participants referred to for this report is provided below:

• By Respondent: Supply Side- 80% and Demand Side 20%
• By Designation: Managers- 45%, CXOs and Directors - 30%, and Executives - 25%
• By Region: North America -20%, Europe -32%, Asia-Pacific -40%, Latin America -5%, Middle East & Africa- 3%

The prominent players in the global softgel capsules 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).

Research Coverage:

The report analyzes the softgel capsules market and aims to estimate the market size and future growth potential. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.

Reasons to Buy the Report

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall softgel capsules market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

• Analysis of key drivers (Benefits of softgel capsules, increasing demand for dietary supplements and nutraceuticals, and rising demand for naturally sourced ingredients), restraints (Negative environmental impact, and limited acceptance due to cultural restrictions), opportunities (Personalization and customization), and challenges (Rising prices of raw materials, and insufficient technologies to extract and process gelatin) influencing the growth of the softgel capsules market
• Product Development/Innovation: Detailed insights on upcoming trends, research & development activities, and new product launches in the softgel capsules market
• Market Development: Comprehensive information about lucrative markets - the report analyses the softgel capsules market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the softgel capsules market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players like 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), and India Gelatine & Chemicals Ltd. (India).