Vegetarian Soft gel Capsules Market Top Impacting Factors That Could Escalate Rapid Growth During 2023-2031

The global vegetarian softgel capsules market size was US$ 552.5 million in 2020. The global vegetarian softgel capsules market size is forecast to reach US$ 842.7 million by 2030, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2022 to 2030.

Vegetarian softgel capsules are derived from natural plant sources and are free from animal derivatives and genetically modified organisms. They are also gluten-free and contain no modified sugar. The main ingredients are starch, pullulan, and cellulose (Hydroxypropyl Methylcellulose).

In medicine, a softgel capsule is an open-piece capsule that contains a liquid or semisolid substance without air bubbles. Typically, the main components of gelatine films are sorbitol, glycerine, or an identical polyol. Soft gel capsules are generally taken orally, just like case hard capsules. Softgel Capsules come in a variety of shapes, such as the oval, round, oblong, tubs, suppository, and more.

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Factors Influencing Market GrowthThe availability of natural raw materials for the formulation of vegetarian softgel capsules, and the rise in demand for vegetarian softgel capsules owing to their benefits, fuel the growth of the market.

As a result of the specialized raw materials and production processes involved in vegetarian softgel capsules, high manufacturing costs may slow down the global market growth during the forecast period.

Due to a large pool of health-conscious consumers, the pharmaceutical industry is experiencing a surge in innovations for manufacturing softgel capsules. These factors are forecast to provide profitable opportunities for the market during the forecast period.
Impact Analysis of COVID-19

Due to the global economic recession led by COVID-19, the market for vegetarian softgel capsules declined in 2020. The COVID-19 outbreak also disrupted the supply chain in various end-user industries, such as food and beverage, healthcare, and industrial. Accordingly, the overall impact of COVID-19 on the vegetarian softgel capsule market was negative because of the low adoption of vegetarian-based capsules due to disruptions in logistical chains and the easy availability of gelatin-based capsules.

Regional Insights

Asia-Pacific offers lucrative opportunities for companies operating in the vegetarian softgel capsules market, recording the highest growth rate. The increasing infrastructure of industries, rising disposable incomes, and a well-established presence of domestic companies in the region have all contributed to the region's development. Additionally, the increase in contract manufacturing within the region provides a great opportunity for new entrants. Further driving the market growth is the rise in personalized medicine expenditures and the adoption of high-tech processing to improve the production of softgel capsules.

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Leading Competitors

The leading prominent companies profiled in the global vegetarian softgel capsules market are:

DuPont de Nemours, Incorporated
DCC Plc. (EuroCaps)
Catalent Incorporated
Aenova Group
Sirio Pharma Co. (Ayanda)
Procaps Group
Captek Softgel International, Incorporated
Lyfe Group (Caps Canada)
Best Formulation Incorporated
Robinson Pharma Incorporated
Other Prominent Players

Scope of the Report

The global vegetarian softgel capsules market segmentation focuses on Material, Application, Distribution Channel, and Region.

Segmentation based on Material

Starch
Cellulose
Pullulan

Segmentation based on Application

Pharmaceuticals
Health Supplements
Cosmetics

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Segmentation based on Distribution Channel

Hospital Pharmacy
Retail Stores & Pharmacy
Online Providers

Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

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