Global Vegetarian Softgel Capsules Market Size, Share & Industry Trends Analysis Report By Material, By Application, By Distribution Channel, By Regional Outlook and Forecast, 2021 - 2027 (2023)

New York, March 31, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Vegetarian Softgel Capsules Market Size, Share & Industry Trends Analysis Report By Material, By Application, By Distribution Channel, By Regional Outlook and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06249543/?utm_source=GNW
However, vegetarian s?ftg?l ???sul?s ?r? ?bt?in?d fr?m ?l?nt-b?s?d natural s?ur??, and free ?f ?nim?l derivative, genetically modified organism (GMO). In addition, plant polysaccharides (pullulan), starches, and hydroxyl propyl methyl celluloses are the three types of vegetarian softgels. Moreover, these have many advantages including they are suitable for Halal or Kosher certification; they have a pure, clear, and elegant appearance with no taste or odor; they are ideal for increasing the bioavailability of oil-soluble ingredients, they are easy to swallow, safe, non-carcinogenic, and tamper-evident.

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.

COVID-19 Impact

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.

Market Growth Factors

Plant-based capsules are becoming increasingly popular

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.

Rising number of health-conscious and vegan consumers

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.

Market Restraining Factors

High Cost and other demerits of these capsules

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.

Material Outlook

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.

Application Outlook

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.

Distribution Channel Outlook

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.

Regional Outlook

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.

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.

Strategies deployed in Vegetarian Softgel Capsules Market

Sep-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.

Mar-2021: CapsCanada, a subsidiary of a Lyfe Group, introduced the latest liquid-filled hard capsule manufacturing service. With the help of this technology, liquids, suspensions, pastes, semi-solids, and waxy substances can all be filled into gelatin or HPMC vegetarian two-piece capsules. This North American manufacturing service, which is based on CapsCanada’s LFHC technology, provides pharmaceutical businesses with a variety of specific benefits in terms of product development, speed to market, and cost savings.

Feb-2021: Catalent rolled out its CosmoPod Duo soft gel capsule technology for topical skin treatment delivery and other applications. The capsule is made from a type of natural carrageenan that is produced sustainably from seaweed. In addition, the CosmoPod Duo capsule is hermetically sealed to assist in the protection of compositions from light and oxidation while also enhancing stability, in comparison to typical beauty treatments.

Nov-2020: Aenova Group introduced a new version of vegetarian soft capsules. The new VegaGels are made of vegetables and represent a significant advancement over their previous technology, as they are resistant to heat and temperature and extremely stable. During long-term storage, this dramatically lowers stickiness and crosslinking processes. Moreover, the new VegaGels are distinguished by their flexible and soft feel, as well as their availability in a wide range of sizes and shapes, including oval, oblong, and twist-off, as well as a variety of colors.

Nov-2020: Sirio Europe, part of the Sirio group, expanded its geographical reach by transforming its Brandenburg, Germany site with advanced manufacturing and green technologies. Following this, new HVAC systems, individual drying chambers, vegetarian softgel manufacturing equipment, and block heat and power plant have all been installed. The HVAC systems boost the manufacturing capacity of the business while also lowering the risk of product contamination.

Jun-2020: Catalent expanded its geographical reach by completing the establishment of its consumer health manufacturing units in Strathroy, Canada, and Sorocaba, Brazil. Moreover, new softgel encapsulation lines devoted to Catalent’s unique Vegicaps plant-based capsule and CosmoPod twist-off capsule technologies would be installed at each facility as part of the expansion initiatives. With the increased capacity, Catalent would be able to assist its customers in North and Latin America in developing products for consumers seeking all-natural and plant-based vitamins, minerals, and supplements via its Vegicaps capsule, as well as those seeking innovative, easy-to-use unit-dose beauty care products via its CosmoPod technology.

Scope of the Study

Market Segments covered in the Report:

By Material

• Starch

• Cellulose

• Pullulan

By Application

• Health Supplements

• Pharmaceuticals

• Cosmetics

By Distribution Channel

• Retail Stores & Pharmacy

• Hospital Pharmacy

• Online Providers

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Aenova Group GmbH (BC Partners)

• Catalent, Inc.

• Best Formulations, Inc.

• Captek Softgel International, Inc.

• Lyfe Group (Caps Canada)

• Robinson Pharma, Inc.

• Sirio Pharma Co., Ltd.

• Procaps Group

• EuroCaps Ltd.

• DuPont de Nemours, Inc.

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