Vegetarian Softgel Capsules Market Expected to Reach $0.82 Billion by 2030

Vegetarian softgel capsules market was valued at $0.52 billion in 2020 and is projected to reach $0.82 billion by 2030 registering a CAGR of 4.6% from 2021 to 2030. Ѕоftgеl іѕ uѕuаllу а ѕіnglе ріесе оf сарѕulе, соmmоnlу mаdе оf gеlаtіn аnd соnѕіѕtѕ оf lіquіd оr оіl-bаѕеd іngrеdіеntѕ. Оn thе оthеr hаnd, vеgеtаrіаn ѕоftgеl сарѕulеѕ аrе оbtаіnеd frоm рlаnt-bаѕеd nаturаl ѕоurсеѕ, frее оf аnіmаl dеrіvаtіvеѕ, genetically modified organism (GМО), аnd dеvоіd оf glutеn аnd mоdіfіеd ѕugаr. Vegetarian softgels can be divided into plant polysaccharides (pullulan), starches, and hydroxyl propyl methyl celluloses. These possess the benefits of suited for Halal or Kosher certification; pure, clear and elegant appearance with no taste or odor; ideal for improving the bioavailability of oil soluble ingredients; easy to swallow, safe, non-carcinogenic, and tamper evident.

List of Key Players
Nemours, Inc., DCC Plc. (EuroCaps), Catalent Inc., Aenova Group, Sirio Pharma Co. (Ayanda), Procaps Group., Captek Softgel International, Inc., Lyfe Group (Caps Canada), Best Formulation Inc., and Robinson Pharma Inc.

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COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The COVID-19 pandemic has restrained the industry growth significantly, owing to owing to low adoption of vegetarian based capsules due to the disruptions in logistical chains and the easy availability of gelatin-based capsules. Thus, the outbreak of COVID-19 has negatively impacted the vegetarian softgel capsules market.

The vegetarian softgel capsules market is segmented on the basis of material, application, distribution channel, and region. By material, it is bifurcated into starch, cellulose, and pullulan. The starch segment was the major shareholder in 2020, owing to increase in adoption of starch softgel capsule for various nutritional as well as pharmaceutical purpose and availability of starch softgel capsule in market by various key players.

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By application, it is segmented into pharmaceuticals, health supplements, and cosmetics. The health supplements segment dominated the global vegetarian softgel capsules market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to increase in application of vegetarian softgel capsules as heath supplements such as nutrient compounds includes vitamins, minerals, fiber, fatty acids, and amino acids to increase immune system, reduce anxiety, and boost overall health of people.

By distribution channel, it is segmented into hospital pharmacy, retail stores & pharmacy, and online providers. The retail stores & pharmacy acquired the largest vegetarian softgel capsules market share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to retail stores & pharmacy being the oldest and most conventional medium distributing vegetarian softgel capsules to consumers, and availability of these products at retail stores at discounted prices.

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