Softgel Capsules Market Analysis: Key Players to Watch

The global softgel capsules market was valued at USD 7.67 billion in 2022 and is expected to grow to USD 13.09 billion by 2030, reflecting a CAGR of 6.9% from 2023 to 2030. Softgel capsules continue to gain traction due to their ease of swallowing, effective masking of unpleasant taste and odor, improved absorption, enhanced bioavailability, and strong atmospheric stability.

Advancements in manufacturing technology and the development of new materials have transformed traditional capsules, allowing for features such as controlled drug release, tamper-evident properties, and improved options for potent API formulations. These innovations are supported by reduced degradation in stomach pH, appealing aesthetics, and longer shelf life, ultimately expanding the formulation choices available to pharmaceutical companies.

There is also a rising focus among manufacturers on producing capsules that are free from gelatin, instead using plant-based polymers like starch, HPMC, and pullulan. These gelatin-free alternatives cater to the medical needs of vegetarian consumers while offering technical benefits and helping reduce animal-derived waste. This shift aligns with ethical and sustainable pharmaceutical practices. Companies such as Aenova Group have reported double-digit sales growth in their vegetable capsule lines, while EuroCaps is working on chewable softgels with enhanced taste masking. Leading companies including Catalent and Roquette are also developing vegan capsules to strengthen their presence among the global vegan population.

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Key Market Trends & Insights

• Regional Insights: North America held the largest revenue share at 42.3% in 2022, supported by advanced production technologies, the presence of major industry players, significant R&D spending, and a strong base of health-conscious consumers and pharmaceutical leaders.
• Type Insights: The gelatin-based/animal-based segment led the market in 2022. Gelatin has been the preferred excipient for over 80 years due to its exceptional digestibility, ability to produce tamper-evident capsules, mechanical strength, reliable sealing, patient compliance, abundant availability, and clean-label characteristics, solidifying its dominant position.
• Application Insights: The vitamins and dietary supplements segment held the largest share in 2022. Since vitamins are highly sensitive to atmospheric oxidation and degradation in tablet or gummy formats, softgel capsules—which protect against UV radiation and oxidation—are the ideal alternative for extending product shelf life.
• End-use Insights: Nutraceutical companies accounted for 37.7% of the market in 2022 and are projected to grow at the fastest CAGR of 8.2% during the forecast period. Their focus on developing vitamins, minerals, and health supplements continues to drive demand for softgel formulations.

Market Size & Forecast

• 2022 Market Size: USD 7.67 Billion
• 2030 Projected Market Size: USD 13.09 Billion
• CAGR (2023-2030): 6.9%
• North America: Largest market in 2022
• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

Intensifying competition is driving rapid technological progress as companies pursue continuous product improvement with strong emphasis on R&D. Ongoing investment in research, adherence to regulatory requirements, and technological upgrades are enabling the introduction of advanced techniques. Outsourcing softgel capsule production has become a major trend, helping manufacturers reduce capital expenditure and maintain competitive pricing.

Leading companies are conducting research to develop capsule-in-capsule formats, tablet-in-capsule systems, and controlled-release formulations for critical drugs. Manufacturers are also strengthening their market presence through expanded production capabilities. For example, in January 2023, Sirio Pharma acquired Best Formulations, a producer of plant-based softgels and gummies, a move expected to enhance Sirio’s production capacity, portfolio breadth, and R&D capabilities.

Similarly, in April 2022, Catalent acquired a biologics development and manufacturing facility from Vaccine Manufacturing and Innovation Centre UK Limited (VMIC Ltd.). Located near Oxford, UK, the facility is under construction and will support Catalent’s biologics capabilities. The company plans to invest up to USD 160 million to complete and equip the site, enabling it to support the development and production of vaccines and biologic therapies, including mRNA, proteins, and other advanced modalities.

Key Players

• Fuji Capsule
• Sirio Pharma Co., Ltd.
• CAPTEK Softgel International Inc.
• Thermo Fisher Scientific Inc.
• EyePoint Pharmaceuticals, Inc.
• Catalent, Inc.
• EuroCaps
• Aenova Group
• Lonza Capsules & Health Ingredients
• ProCaps Laboratories, LLC
• Soft Gel Technologies, Inc.

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Conclusion

The softgel capsules market is poised for steady expansion through 2030, driven by technological advancements, rising demand for nutraceuticals, and increasing consumer preference for easy-to-consume dosage forms. While gelatin-based capsules continue to dominate due to their long-established advantages, the shift toward plant-based and vegan alternatives is accelerating, reflecting broader trends in sustainability and consumer ethics. Strong R&D investments, strategic acquisitions, and innovations such as controlled-release and specialty capsule formats will further shape the competitive landscape, solidifying softgels as a key delivery platform in both pharmaceutical and nutraceutical sectors.