Market Forecast for Softgel Capsules to 2030 revised

1. Market forecast for softgel capsules - 2022 to 2030 Or Softgel capsule market size set to surpass $11 billion by 2030 The growing demand for softgel capsules has led to exponential growth in the global softgel capsule market. According to available industry data, the global softgel capsule is valued between $4.7 billion and $7.6 billion, depending on whose report one is considering. A 2022 Grand View Research market report puts the figure at $7.6 billion in 2021, with growth projections put at 5% to 6% from 2022 to 2030. At the moment, North America has the largest market in the world, accounting for about 29.13% of the global market. India and the rest of Asia, along with Europe are other fast-growing markets across the world, especially with the rise of nutraceuticals and the efforts of third-party pharmaceutical and nutraceutical companies in the regions. Many pharmaceutical companies now adopt the softgel technology as a result of growing demand and acceptance among consumers, especially those suffering from cardiovascular and other chronic diseases. Soft gelatin capsules, known simply as softgels, have grown in popularity in the last 10 years due to their convenience, versatility, practicality and fast action. They also ensure the stability of active pharmaceutical ingredients (APIs) and offer extended shell life. Generally, softgel capsules are a form of oral dosage medicines that have a gelatin-based, hermetically-sealed shell which houses a liquid or semisolid fill. They are completely sealed and can only be opened by destroying the capsule. The shell is a plasticized and flexible gelatin film, aiding quicker dispersion of the content of the capsule as well as dissolution. Consumers who find oily liquids and hard tablets unpalatable will also find it easier to swallow softgel capsules. Softgel capsule 2030 market forecast The softgel capsule industry is on an impressive trajectory. The potential for growth is huge and there are indications that markets will continue to grow as demand continues to surge. The market is expected to surpass $11 billion by 2030, growing at a CAGR of 5.3% between 2022 and 2030, according to the Softgel Capsule Market report by Market Research Future. While there are so many factors responsible for this healthy growth, it is important to understand that there are various segments performing at varied levels.

2. For instance, there is a growing trend of consumers demanding for vegetarian softgel capsules as against regular gelatin capsules, because they are plant-based and completely organic. As a segment, the vegetarian capsule market will reach $824.29 million by 2030 growing at a CAGR of 4.6% within the period. Vegetarian softgel capsules do not contain GMO, animal derivatives, modified sugar, or gluten, but are made from cellulose (hydroxypropyl methylcellulose), starch, and pullulan. The rise in demand for plant-based capsules is one of the many factors that will contribute to the market growth up until 2030. But beyond that, the COVID-19 pandemic reiterated the need for vitamin and mineral supplements to help consumers boost their immune system. This has led to a surge in demand for these supplements, many of which are produced as softgel capsules. Whether it's vegetarian or regular gelatin, the demand has been growing at a steady rate since 2020 within the immune-boosting supplement segment and will continue to do so into 2030. There is a growing prevalence of cardiovascular diseases and other chronic ailments around the world. This has led to the many clinical trials geared towards the development of fast- acting and more potent drugs for the treatment and/or management of these diseases. Hence, it is easy to find R&D units of renowned pharmaceutical and nutraceutical companies engaging in comprehensive research projects to come up with new and improved formulas on a continuous basis. This is, without doubts, propelling the softgel capsules market growth across the world. Responding to the global boom As long as global population continues to rise and new diseases continue to be discovered, there's going to be a need for people to take oral medications. Hence, the softgel capsule industry will continue to rise. While the figures stated above are mere projections, unforeseen circumstances may spike the growth even further. The onus is on manufacturing companies to continue to boost their capacity and ensure that the growing demand is matched with equally rising production and supply figures. Pharmaceutical third-party manufacturing can aid in meeting the increasing demand for softgel capsules. Akums Drugs and Pharmaceuticals Ltd., India's leading pharmaceutical contract manufacturing company, has a significant capacity for soft gelatin capsule production. Known for its top-notch quality, the company produces 5 million soft gelatin capsules monthly. Akums plant, designed and constructed in 2004 in 12200 sq. meter area, is

3. wholly dedicated to manufacturing tablets, soft and hard gelatin capsules, dry syrups & sachet.