The global vegetarian softgel capsules market was valued at $527.28M in 2020 and is projected to reach $824.39M by 2030, registering a CAGR of 4.6% from 2021 to 2030.
Vegetarian softgel capsules are oral dosage of medicines and nutritional supplements delivered in the form of capsules. They are made from starch, pullulan, and cellulose (Hydroxypropyl Methylcellulose). These capsules are a durable, stable, and viable substitute for animal gelatin and are available in a wide range of colors, shapes, fill materials, & sizes.
These comprise an outer shell that is solid, and an inner shell that contains an active ingredient, which is of liquid or semi-solid materials. Vegetarian softgel capsules do not contain gluten or modified sugar. They are chemically stable and conceal the taste and odor of the ingredients inside.
The main factor that drives the growth of the vegetarian softgel capsules market includes surge in vegan population. In addition, availability of natural raw materials for the formulation of vegetarian softgel capsules boost the growth of the market. Furthermore, increase in adoption of vegetarian softgel capsules owing to its advantages and application, fuels the growth of the market.
Conversely, high manufacturing cost of vegetarian softgel capsules owing to their specialized raw material and production processes are expected to limit the growth of the market during the forecast years.On the other hand, surge in innovations in the pharmaceutical industry for the production of softgel capsules owing to a massive pool of health-conscious consumers are expected to offer profitable opportunities for the growth of the market during the forecast period.