LAMEA Vegetarian Softgel Capsules Market Size, Share & Industry Trends Analysis Report By Material (Starch, Cellulose, and Pullulan), By Application, By Distribution Channel, By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa Vegetarian Softgel Capsules Market would witness market growth of 7.0% CAGR during the forecast period (2021-2027).
Softgel capsules provide several advantages, including ease of ingesting, increased bioavailability, odor & taste masking, enhanced absorption, and good atmospheric stability. Moreover, advances in manufacturing technology and the emergence of new materials have brought more characteristics to classic capsules, such as controlled drug release, tamper-evident, and formulation choice of potent API owing to reduced deterioration in stomach pH, appealing aesthetics, and longer shelf life.
As customers grow more conscious of the ethical and environmental implications of the components in their food, health, and personal care products, demand for such capsules is increasing. Vegetarian, eco-friendly, and more natural alternatives to gelatin are expected to appeal to a rising number of customers.
Some of the key trends of the regional market are the increased prevalence of chronic diseases such as CVD and expanding public knowledge about the use of various health and dietary supplements. According to a survey conducted by the Brazilian Institute of Public Opinion and Statistics in 2018, the percentage of the population that identifies as vegetarian has increased to 14% (a 75 percent rise from 2012), representing 29 million people.
Many regional companies deliver the important features that consumers are looking for as they grow more savvy and choosy about the products they buy. Supplements are all about health, wellness, and self-care, therefore customers want a product that meets their high expectations for authenticity, purity, and dependability.
The Brazil market dominated the LAMEA Vegetarian Softgel Capsules Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $11.9 million by 2027. The Argentina market is estimated to grow at a CAGR of 7.5% during (2021 - 2027). Additionally, The UAE market would experience a CAGR of 6.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
Scope of the Study
Market Segments Covered in the Report:
- Health Supplements
By Distribution Channel
- Retail Stores & Pharmacy
- Hospital Pharmacy
- Online Providers
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Aenova Group GmbH (BC Partners)
- Catalent, Inc.
- Best Formulations, Inc.
- Captek Softgel International, Inc.
- Lyfe Group (Caps Canada)
- Robinson Pharma, Inc.
- Sirio Pharma Co., Ltd.
- Procaps Group
- EuroCaps Ltd.
- DuPont de Nemours, Inc.
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