The Asia Pacific Vegetarian Softgel Capsules Market would witness market growth of 4.3% CAGR during the forecast period (2021-2027).
The rise in the number of working women and the growing number of nuclear double-income households, particularly in urban areas, are major trends that are influencing many consumers' shifting lifestyles and attitudes about healthy living in emerging countries. Therefore, such trends may encourage people to go towards innovative pharmaceuticals that help to promote overall health.
Manufacturers are working on a variety of projects to create novel vegetarian softgel capsules that are more adaptable and convenient for pharmaceutical, nutraceutical, and cosmeceutical applications.
More vegetarians live in India than in the rest of the world combined. Many Indian religions, including Hinduism, Buddhism, and Sikhism, have vegetarian philosophical schools, while Jainism officially prohibits meat intake. According to UN FAO figures from 2007, Indians consumed the least amount of meat in the world. Lard, gelatin, and beef stock are examples of animal-based products (other than milk and honey) that are not utilized in traditional cuisine.
With a green dot in a green square, India has established a system of labeling edible food comprised entirely of vegetarian ingredients. Vegetarian Society (VSS) and SgVeganCommunity are two of Singapore's largest vegetarian and vegan communities. Therefore, such trends associated with veganism and vegetarianism would create higher demand for softgel capsules based on vegetarian formulations. Moreover, various key players are aiming to capitalize on the lucrative market of this region.
The China market dominated the Asia Pacific Vegetarian Softgel Capsules Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $54.0 million by 2027. The Japan market is exhibiting CAGR of 3.7% during (2021 - 2027). Additionally, The India market would display a CAGR of 5% during (2021 - 2027).
Based on Material, the market is segmented into Starch, Cellulose, and Pullulan. Based on Application, the market is segmented into Health Supplements, Pharmaceuticals, and Cosmetics. Based on Distribution Channel, the market is segmented into Retail Stores & Pharmacy, Hospital Pharmacy, and Online Providers. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Vegetarian Softgel Capsules Market is Projected to reach USD 689.1 Million by 2027, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aenova Group GmbH (BC Partners), Catalent, Inc., Best Formulations, Inc., Lyfe Group (Caps Canada), Robinson Pharma, Inc., Sirio Pharma Co., Ltd., Procaps Group, EuroCaps Ltd., and DuPont de Nemours, Inc.
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