Softgel Capsule Market Overview
International softgel capsule market is anticipated to cross the worth of 3276.00 mn USD. It is expected to witness growth at a significant CAGR of 5.46 percent. This analysis has been done keeping the forecast period of 2018-2023 in mind. Greater consumption of supplements based on Vitamin and others enriches the international softgel capsule market significantly during the forecast year. North America is currently the most prominent destination among these in the global market for softgel capsules.
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Maintaining utmost significance in terms of demand in global market is the reason that softgel capsule market is so much enriched. North America is the best example of this, where the market worth is valuated to have crossed worth of more than USD 700 million in the year 2018. Similar is the case about other parts of the world as well. A growing number of pharmaceutical companies is one of the foremost reasons. At the same time, number of health-conscious people has also grown around the world.
Sales of softgel capsules have remarkably grown in Asian nations as well. Increasing budget for healthcare sector across the globe can also be touted as one of the reasons. This creates significant scope for developing market in softgel capsule domain. At the same time, swift expansion of pharmaceutical sector increasing the level of competition can also be cited as one of the reasons behind the lowering costs, which in turn has been encouraging for the prospective buyers to invest more in it.
Softgel Capsule Market Segmentation
International softgel capsule market can be segmented on product type and in terms of application. Based on type, it can be classified further into Gelatin type and non-animal type. In terms of application, it is classified further into vitamins, supplements, and nutrition. It is classified based on region as well. It is segmented into American market, European market, Asia Pacific, Middle East, and Africa. Among these, American market is indeed the most prominent, which is broadly divided into North and South America. To be specific, North America is the leading nation where the market is more significant.
Softgel Capsule Market Regional analysis
Based on region, the international softgel capsule market is classified into American market, European market, Asia Pacific, Middle East, and Africa. North America is the most dominant among these being led by the United States and Canada mainly. European market is segmented into Western and Eastern Europe. Among these, Western Europe is the most dominant being led mainly by nations like Germany, France, Italy, Spain, and UK. Asia Pacific is expected to maintain its steady growth rate during the forecast period. This market is mainly led by Japan, China, and India. Middle East and Africa contribute equally to rest of the world.
According to latest reports, global softgel capsule market witnessed steady growth between the forecast period of 2017 and 2023. North America is expected to be the most dominant of all. However, the expansion spree of pharmaceutical domain is projected to remain intact all through the review period.
- Weihai Baihe Biology Technological Co. Ltd.
- Patheon (part of thermo fisher scientific)
- Catalent, Inc., Captek softgel International Inc.
- Amway, EuroCaps Ltd. (part of the DCC plc Group)
- Strides Pharma Science Limited, Sirio Pharma Co. Ltd
- Soft Gel Technologies
- International Vitamin Corporation, etc.
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