Vegetarian Softgel Capsules Market to Reach $824.39 Mn, Globally, by 2030 at 4.6% CAGR: Allied Market Research
Increase in the vegan population, availability of natural raw materials, and rise in the number of health-conscious people drive the growth of the global vegetarian softgel capsules market
PORTLAND, Ore., Feb. 14, 2022 /PRNewswire/ -- /PRNewswire/ -- Allied Market Research published a report, titled, "Vegetarian Softgel Capsules Market by Material (Starch, Cellulose, and Pullulan), Application (Pharmaceuticals, Health Supplements, and Cosmetics), and Distribution Channel (Hospital Pharmacy, Retail Stores & Pharmacy, and Online Providers): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global vegetarian softgel capsules industry generated $527.28 million in 2020, and is expected to reach $824.39 million by 2030, witnessing a CAGR of 4.6% from 2021 to 2030.
For Right Perspective and Competitive Insights, Get Sample Report at: https://www.alliedmarketresearch.com/request-sample/3504
Drivers, restraints, and opportunities
Increase in the vegan population, availability of natural raw materials, and rise in the number of health-conscious people drive the growth of the global vegetarian softgel capsules market. However, high cost of vegetarian softgel capsules restrains the market growth. On the other hand, innovations in the pharmaceutical industry present new opportunities in the coming years.
Covid-19 Scenario
- Manufacturing activities of vegetarian softgel capsules hindered due to nationwide lockdown, disruptions supply chain, and shortage of raw materials. However, these activities will get back on track post-lockdown.
- The consumption of vegetarian-based capsules was reduced and ease in availability of gelatin-based capsules increased with ease in their availability.
- As the awareness regarding plant-based products increases among consumers, the demand for vegetarian softgel capsules is expected to increase steadily post-pandemic.
The starch segment to continue its dominant share during the forecast period
Based on material, the starch segment contributed to the highest share in 2020, accounting for more than two-fifths of the global vegetarian softgel capsules market, and is expected to continue its dominant share during the forecast period. Moreover, this segment is projected to portray the highest CAGR of 5.2% from 2021 to 2030. This is due to rise in adoption of starch softgel capsule for various nutritional as well as pharmaceutical purposes and presence of huge number of key players. The report also analyzes the segments including cellulose and pullulan.
Do You Have Any Query Or Specific Requirement? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/purchase-enquiry/3504
The retail stores & pharmacy segment to maintain its leadership status during the forecast period
Based on distribution channel, the retail stores & pharmacy segment accounted for the highest share in 2020, contributing to nearly half of the global vegetarian softgel capsules market, and is projected to maintain its leadership status during the forecast period. This is due to the oldest and most conventional medium that distributes vegetarian softgel capsules and availability of products at discounted prices. However, the online providers segment is expected to manifest the highest CAGR of 5.1% from 2021 to 2030, owing to disruptions in the offline supply chain, increase in awareness of e-commerce pharmacy, and rise in the number of internet users.
North America to continue its lead in terms of revenue by 2030
Based on region, North America accounted for the highest market share in 2020, holding around two-fifths of the global vegetarian softgel capsules market, and is projected to continue its lead in terms of revenue by 2030. This is attributed to increase in the hеаlth-conscious population and presence of key market players. However, Asia-Pacific is expected to manifest the fastest CAGR of 6.1% during the forecast period. This is due to improved infrastructure, increase in disposable incomes, and well-established presence of domestic companies in the region
Leading Market Players
- DuPont de Nemours, Inc.
- DCC Plc. (EuroCaps)
- Catalent Inc.
- Aenova Group
- Sirio Pharma Co. (Ayanda)
- Procaps Group
- Captek Softgel International, Inc.
- Lyfe Group (Caps Canada)
- Best Formulation Inc.
- Robinson Pharma Inc.
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter
"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."
Trending Reports in Healthcare Industry (Book Now with 10% Discount):
Biopsy Devices Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
Pharmaceutical Packaging Market - Global Opportunity Analysis and Industry Forecast, 2020-2030
Prefilled Syringes Market - Global Opportunity Analysis and Industry Forecast, 2020-2030
HIV Drugs Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
Pulse Oximeters Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
Patient Centric Healthcare App Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
Teleradiology Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
Minimally Invasive Surgical Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
Surgical Equipment Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Share this article