The Global Vegetarian Softgel Capsules Market size is expected to reach $689.1 million by 2027, rising at a market growth of 4.2% CAGR during the forecast period.
Vegetarian Softgel Capsules are capsules that contain the oral dosage of medicines and nutritional supplements. In addition, Gluten and modified sweeteners are not present in vegan softgel capsules. Moreover, these capsules are chemically stable and consumed by many people due to their many benefits.
Starch, pullulan, and cellulose (Hydroxypropyl Methylcellulose) are used to make these vegetarian softgel capsules. Consumers who are looking for an animal-free alternative to gelatin capsules are highly embracing vegetarian capsules. Moreover, the growing number of vegan people around the world would open new growth avenues for the industry over the upcoming years.
Also, some of the key trends of the vegetarian softgel capsules market are high availability of natural raw materials for the formulation of vegetarian softgel capsules, as well as an increase in demand for vegetarian softgel capsules due to its benefits and applications. Moreover, some of the growth catalysts for the market are a large pool of health-conscious customers, and a spike in pharmaceutical sector innovations for the manufacturing of softgel capsules. However, the high manufacturing cost of vegetarian softgel capsules, owing to their specialized raw materials and manufacturing procedures, is likely to restrain market expansion over the forecast period.
The COVID-19 pandemic has wreaked havoc on healthcare workflows all around the world. Various industries, including several sub-domains of health care, have been forced to temporarily close their doors because of the disease. The global vegetarian softgel capsules market witnessed a declined growth in 2020 as a result of the global economic slowdown, which was fueled by COVID-19. In addition, the COVID-19 disrupted the supply chain in a variety of end-user industries, including food and beverage, healthcare, and industrial.
For example, DuPont's revenue fell by 5.2 percent from 2019 to 2020, owing to a drop in net sales in the nutrition and bioscience division. In addition, Catalent's softgel and oral technologies division saw a 4.7 percent reduction in net sales from 2020 to 2021. Overall, COVID-19 had a negative influence on the vegetarian softgel capsule market due to the limited consumption of vegetarian-based capsules due to logistical chain delays and the easy availability of gelatin-based capsules.
Vegetarian s?ftgel ???sules or non-animal softgel capsules are made from plant-based natural sources such as starch, water, cellulose, carrageenan, and other plasticizing agents and are devoid of animal derivatives. One of the key benefits of utilizing cellulose-based or vegetarian capsules is that they are not formed of an animal byproduct. They are excellent for people who choose not to consume animal-sourced goods because of this distinct characteristic. Vegetarian capsules are unquestionably superior in terms of stability, absorption, and bioavailability. Regarding solubility, both gelatin and vegetarian softgel capsules dissolve well at body temperature, although vegetarian capsules appear to dissolve better in water at room temperature than gelatin capsules.
Professional athletes and weightlifters are no longer the only ones who follow sports nutrition. Global events, marathons, gym-goers, and games have all put sports in the spotlight and increased interest in fitness and body image has prompted companies to reinvent themselves as providers of healthy lifestyle products. Consumers' growing interest in health awareness is expected to outnumber professional athletes. As a result, stores are dedicating more shelf space to sports nutrition. This allows sport supplement makers to market sports nutrition products in an oral dosage type viz. softgel capsules, to a large and diverse consumer base throughout the world.
Vegetarian softgel capsules are commonly used in health supplements, medications, and nutracosmetics. Many people have adopted a healthy lifestyle, fitness programs, and diets as a result of growing awareness of fitness and health. Recently, the vegan population has increased significantly and this number is steadily rising year after year.
Vegetarian Softgel Capsules are more expensive than animal-based gelatin which would restrict many people to buy these products. In addition, the global pandemic had plummeted the economies of many countries. Hence, people in such countries find it difficult to make both ends meet which may discourage many industry players.
In addition, it is presumed by many people that vegetable-made shell is not as strong as the one made with animal gelatin. Moreover, the physical properties of various vegetarian capsules make it hard to contain the simplest oils. Also, the major benefit of standard softgels is not present in vegetarian form as software fill material is generally secured from oxygen exposure after encapsulation while vegetarian is porous.
Based on Material, the market is segmented into Starch, Cellulose, and Pullulan. In 2020, the Starch segment collected the maximum revenue share of the vegetarian softgel capsules market. This is due to the increased adoption of starch softgel capsule for various nutritional as well as pharmaceutical purposes and the high availability of starch softgel capsule in the market by various key players. In addition, these capsules are obtained from natural sources and utilized as nutritional supplements for patients suffering from different types of medical ailments.
Based on Application, the market is segmented into Health Supplements, Pharmaceuticals, and Cosmetics. The pharmaceutical segment held a significant revenue share of the vegetarian softgel capsules market. This is due to the fact that pharmaceutical companies, such as Thermo Fisher Scientific and a few others, have been making these capsules in large quantities in recent years. While such capsules were primarily targeted at the nutraceutical industry, they have since become a popular choice among pharmaceutical formulators.
Based on Distribution Channel, the market is segmented into Retail Stores & Pharmacy, Hospital Pharmacy, and Online Providers. The Hospital Pharmacy segment acquired a significant revenue share of the vegetarian softgel capsules market. This is because of the availability of almost every medicine prescribed by the doctors and the high faith of people in these doctors and specialists. Moreover, the significant growth of this segment is due to the increasing number of hospitals in both developed and developing countries.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 525.5 Million |
| Market size forecast in 2027 | USD 689.1 Million |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 4.2% from 2021 to 2027 |
| Number of Pages | 196 |
| Number of Tables | 350 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Material, Application, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
|
| Restraints |
|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, the North American region emerged as the dominating region in the overall vegetarian softgel capsules market. This is due to the well-established healthcare infrastructure, growing awareness among the regional population about health and wellness, and rising disposable incomes. In addition, rising spending on personalized medicine and the use of high-tech processing would help the regional industry to grow further.
Free Valuable Insights: Global Vegetarian Softgel Capsules Market size to reach USD 689.1 Million by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aenova Group GmbH (BC Partners), Catalent, Inc., Best Formulations, Inc., Lyfe Group (Caps Canada), Robinson Pharma, Inc., Sirio Pharma Co., Ltd., Procaps Group, EuroCaps Ltd., and DuPont de Nemours, Inc.
By Material
By Application
By Distribution Channel
By Geography
The vegetarian softgel capsules market size is projected to reach USD 689.1 million by 2027.
Rising number of health-conscious and vegan consumers are driving the market in coming years, however, high Cost and other demerits of these capsules limited the growth of the market.
Aenova Group GmbH (BC Partners), Catalent, Inc., Best Formulations, Inc., Lyfe Group (Caps Canada), Robinson Pharma, Inc., Sirio Pharma Co., Ltd., Procaps Group, EuroCaps Ltd., and DuPont de Nemours, Inc.
The global vegetarian softgel capsules market witnessed a declined growth in 2020 as a result of the global economic slowdown, which was fueled by COVID-19.
The Retail Stores & Pharmacy segment has acquired maximum revenue share in the Global Vegetarian Softgel Capsules Market by Distribution Channel 2020, thereby, achieving a market value of $308.2 million by 2027.
The North America is the fastest growing region in the Global Vegetarian Softgel Capsules Market by Region 2020, and would continue to be a dominant market till 2027.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 