Non-Animal Softgel Capsule Market Growth Is Attributed To The Increasing Demand For Pharmaceuticals

According to Precision Business Insights (PBI), the latest report, the non-animal softgel capsule market is expected to be worth USD 625.7 million in 2022, growing at a 7.2% CAGR from 2022 to 2028. The global non-animal softgel capsule market is segmented into the following types: By Material Type (Starch, Carrageenan-Starch Blends, and Others), By Application (Pharmaceuticals, Healthcare Supplements, Others), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the non-animal softgel capsule market report are Capsugel, Amway, Patheon, Catalent, Procaps Laboratorios, Eurocaps, Best Formulations, Aenova, Captek, SIRIO, Capsugel, and Robinson Pharma. Sports nutrition is being practiced by more than just competitive athletes and weightlifters. Global events, marathons, and sporting events have brought sports into the public eye. Additionally, as interest in fitness and body image has grown, businesses have been forced to reposition themselves as suppliers of products for a healthy lifestyle. More consumers are predicted to be interested in health awareness than professional athletes. As a result, sports nutrition is getting more shelf space in supermarkets. This enables manufacturers of sports supplements to offer sports nutrition products such as soft gel capsules for oral administration to a broad consumer base worldwide.

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Pharmaceuticals Segment to Dominate the Non-Animal Softgel Capsule Market:
The pharmaceuticals segment is expected to account for a larger revenue share in the global non-animal softgel capsule market, with a value share worldwide. It is projected to grow at a 7.9% CAGR between 2022 and 2028. In the global non-animal soft gel capsules market, the pharmaceuticals segment is anticipated to expand due to softgels' ability to mask odors, elegant appearance, and simplicity of consumption. Furthermore, these formulations are considered the best since they support the bioavailability and absorption of essential nutrients. Vitamin and mineral supplements are the most often used starch softgel health supplements. Additionally, it is anticipated that increased use of sports-related health nutritional supplements and expanding public awareness of the advantages of exercise and good health will fuel the segment's growth.

Europe Non-Animal Softgel Capsule Market:
The Europe market is expected to increase in the global non-animal softgel capsule market over the forecast period. It is projected to grow at a CAGR of 7.5% in the coming years. in Europe, Germany is projected to make a substantial contribution because of the rise in chronic disease incidence and increased market participant investment. For instance, in April 2019, Catalent expanded its full turnkey softgel capabilities at its facility in Eberbach, Germany. The company spent $14 million on this expansion, which includes two new soft gel encapsulation lines for its Vegicaps technology.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global non-animal softgel capsule market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In September 2021, Aenova unveiled a chewable variant of VegaGels, developed from vegetables. The new softgel capsules are made with omega-3 DHA fatty acids from microalgae and are based on the vegan Aenova VegaGels.

Detailed Segmentation
Based on the material type, the market is segmented into the following:
• Starch
• Carrageenan-Starch Blends
• Others

Based on the application, the market is segmented into the following:
• Pharmaceuticals
• Healthcare Supplements
• Others

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