The North America Softgel Capsules Market would witness market growth of 5.1% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 204.8 million units, showcasing a growth of 6.4% (2019-2022).
The latest developments in the nutraceutical use of softgel capsules have been characterized by innovation in product formulations. Nutraceutical companies are focusing on creating softgel formulations that cater to specific health needs, whether it's targeted vitamins and minerals for immunity support or omega-3 fatty acids for heart health. As consumers become more health-conscious and discerning, personalized and specialized nutraceutical products have become the norm, driving the need for customized softgel formulations.
The cosmetics and beauty industry has also harnessed the potential of softgel capsules in the development of skincare and haircare products. Softgel capsules containing ingredients like vitamins, essential oils, and antioxidants have gained popularity for their ability to provide precise dosing and controlled release of active ingredients. Cosmetics companies are now incorporating softgel capsules into their product lines, offering consumers an innovative and practical approach to skincare, which often involves self-administered treatments and regimens.
In Canada, the increasing demand for nutraceuticals can be attributed to a growing health-conscious population. Consumers are seeking dietary supplements, functional foods, and beverages that offer added health benefits, such as improved immunity, enhanced cognitive function, and better overall well-being. This demand is driven by a desire for preventative healthcare and a proactive approach to managing health. As a result, the Canadian demand for nutraceuticals has expanded, offering a diverse range of products to cater to various health needs.
A similar trend is observed, driven by a combination of factors in Mexico. The Mexican population is becoming increasingly health-aware, with a focus on maintaining a balanced diet and incorporating nutritional supplements to support overall health. The demand for nutraceuticals in Mexico is further influenced by a growing middle-class population with higher disposable income, allowing consumers to invest in wellness products and supplements. Additionally, there is a strong cultural tradition of natural remedies and herbal medicine, which has contributed to the popularity of nutraceuticals in the country. Thus, the demand for softgel capsules is expected to remain strong throughout the forecast period in this region.
The US market dominated the North America Softgel Capsules Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,850.9 Million by 2030. The Canada market is exhibiting a CAGR of 7.5% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 6.6% during (2023 - 2030).
Based on Type, the market is segmented into Gelatin, and Non-gelatin. Based on Application, the market is segmented into Nutraceuticals & Dietary Supplements, Pharmaceuticals, and Cosmetics. Based on Distribution Channel, the market is segmented into Pharmacies & Drug Stores, Supermarkets & Hypermarkets, and Online Providers. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Softgel Capsules Market is Predict to reach USD 6.8 Billion by 2030, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Gelita AG, Darling Ingredients, Inc., Nitta Gelatin, Inc., SAS Gelatines Weishardt, Lapi Gelatine S.p.a (Lapi Group), Captek Softgel International, Inc., Thermo Fisher Scientific, Inc., EuroCaps (DCC Plc), Lonza Group AG (Capsugel), and Procaps Group.
By Type(Volume, Million Units, USD Billion, 2019-2030)
By Application (Volume, Million Units, USD Billion, 2019-2030)
By Distribution Channel (Volume, Million Units, USD Billion, 2019-2030)
By Country (Volume, Million Units, USD Billion, 2019-2030)
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