New York (United states):- The global vegetarian softgel capsules market size was US$ 552.5 million in 2020. The global vegetarian softgel capsules market size is forecast to reach US$ 842.7 million by 2030, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2022 to 2030.
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Vegetarian softgel capsules are derived from natural plant sources and are free from animal derivatives and genetically modified organisms. They are also gluten-free and contain no modified sugar. The main ingredients are starch, pullulan, and cellulose (Hydroxypropyl Methylcellulose). In medicine, a softgel capsule is an open-piece capsule that contains a liquid or semisolid substance without air bubbles. Typically, the main components of gelatine films are sorbitol, glycerine, or an identical polyol. Soft gel capsules are generally taken orally, just like case hard capsules. Softgel Capsules come in a variety of shapes, such as the oval, round, oblong, tubs, suppository, and more.
Due to the global economic recession led by COVID-19, the market for vegetarian softgel capsules declined in 2020. The COVID-19 outbreak also disrupted the supply chain in various end-user industries, such as food and beverage, healthcare, and industrial. Accordingly, the overall impact of COVID-19 on the vegetarian softgel capsule market was negative because of the low adoption of vegetarian-based capsules due to disruptions in logistical chains and the easy availability of gelatin-based capsules.
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Asia-Pacific offers lucrative opportunities for companies operating in the vegetarian softgel capsules market, recording the highest growth rate. The increasing infrastructure of industries, rising disposable incomes, and a well-established presence of domestic companies in the region have all contributed to the region’s development. Additionally, the increase in contract manufacturing within the region provides a great opportunity for new entrants. Further driving the market growth is the rise in personalized medicine expenditures and the adoption of high-tech processing to improve the production of softgel capsules.
The leading prominent companies profiled in the global vegetarian softgel capsules market are:
The global vegetarian softgel capsules market segmentation focuses on Material, Application, Distribution Channel, and Region.
Segmentation based on Distribution Channel
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