According to the latest study from BCC Research, global softgel capsules market is expected to grow from $7.9 billion in 2024 to $11.5 billion by the end of 2029, at a compound annual growth rate of 7.7% from 2024 through 2029.
Although the capsule industry is evolving with new materials and technologies, traditional soft capsules still dominate the market, according to the study. Vegetarian capsules are expected to be dominant in the softgel capsule market at the end of the forecast period. Innovations such as hydroxypropyl mikethylcellulose (HPMC) and non-gelatin softgel capsules are leading the way.
One factor driving the market’s growth is the increase in applications for softgel capsules. Softgel capsules are used for various products, such as drugs, vitamins and oils. Another factor is market expansion strategies. Companies are coming up with new formulations, including plant-based options, and entering into partnerships to enhance their market presence and capabilities.