Wilmington, New Castle, Delaware, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Enteric Softgel Capsules Market By Application (Health Supplements and Pharmaceuticals), and Distribution Channel (Supermarket and Hypermarket, Pharmacy and Drug Store, and Online Provider): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global enteric softgel capsules market valued for $2.3 billion in 2022 and is estimated to reach $3.5 billion by 2032, exhibiting a CAGR of 4.0% from 2022 to 2032.
Prime determinants of growth
Growing healthcare infrastructure, advancements in coating technologies and the increased consumer awareness are the factors that drive the growth of the global enteric softgel capsules market. However, limited applicability of the enteric coating hinder market growth. On the contrary, a rise in healthcare expansion is expected to offer remunerative opportunities for the enteric softgel capsules market during the forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2.3 billion |
| Market Size in 2032 | $3.5 billion |
| CAGR | 4.0% |
| No. of Pages in Report | 251 |
| Segments covered | Application, distribution channel and region |
| Drivers | Growth in the pharmaceutical and nutraceutical industries |
| Advancements in technology and formulation | |
| Growing Consumer Awareness | |
| Opportunities | Rising investments in research and development |
| Restraints | Limited applicability of enteric coatings |
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Recession Scenario
- During a recession, the impact on the healthcare industry, including enteric softgel capsules, can be significant.
- The economic downturns may hinder technology investment. However, the growing awareness regarding the use of enteric softgel capsules and rise in chronic diseases can drive interest in enteric softgel capsules market growth.
The health supplements segment maintained its lead position during the forecast period.
By application, the health supplements segment dominated the market in 2022, accounting more than 90% and is expected to register highest CAGR of 6.9% during the forecast period of the global enteric softgel capsules market, this is attributed to growing emphasis on preventive healthcare, fitness trends, and a proactive approach to well-being. Consumers are increasingly turning to health supplements to address nutritional gaps, support immune function, and promote overall vitality. With a rising focus on a healthy lifestyle and the pursuit of personalized wellness solutions, the demand for health supplements is expected to persist.
The pharmacy & drug store segment maintained its lead position during the forecast period.
By distribution channel, the pharmacy & drug store segment accounted for the largest share in 2022, accounting for more than half of the global enteric softgel capsules market revenue. This is primarily attributed to its widespread accessibility, offering a convenient and trusted source for prescription medications, over-the-counter drugs, and various healthcare essentials. As essential healthcare providers, pharmacies play a crucial role in the healthcare ecosystem, providing essential services, medication counseling, and health advice. However, the online provider segment is projected to register highest CAGR of 5.7% during the forecast period owing to the increasing reliance on online platforms for purchasing goods and services, including health-related products. The convenience of browsing, comparing, and purchasing health supplements and other products from the comfort of one's home, coupled with the availability of a wide range of choices, contributes to the sustained popularity of online providers.
North America maintain its dominance by 2032
By region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global enteric softgel capsules market revenue owing to a well-established healthcare infrastructure and high healthcare expenditure, supporting the demand for various health-related products and services. Additionally, the region experiences a consistently high level of awareness and emphasis on health and wellness among its population, driving the consumption of health supplements and related products. However, Asia-Pacific is projected to register highest CAGR of 5.6% during the forecast period owing to surge in urbanization and changing dietary habits, leading to an increased focus on health and nutrition. As urban populations grow, there is a greater prevalence of sedentary lifestyles, creating a demand for supplements to compensate for potential nutritional deficiencies.
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Leading Market Players: -
- NuVasive, Inc.
- Catalent, Inc.
- Sirio pharma co., ltd.
- Fuji Capsules Co. Ltd.
- InovoBiologic Inc
- NOW Foods Inc.
- Gelita AG.
- Captek Softgel International Inc.
- Viva Pharmaceuticals
- Aenova group
- Procaps Group
The report provides a detailed analysis of these key players of the global enteric softgel capsules market. These players have adopted different strategy such product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. 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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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