asia pacific starch softgel capsules Market

The Asia Pacific starch softgel capsule market is expected to reach US$ 122.54 million by 2027 from US$ 82.55 million in 2019. The market is estimated to grow at a CAGR of 5.2% from 2020 to 2027.

Factors such as advantages of softgel capsules and rise in preference for vegetarian capsules in Asian countries is expected to boost the market growth over the years. Moreover, developing healthcare industry in Asia Pacific is likely to create growth opportunities for the market during the forecast period.

The healthcare industry in Asia Pacific is witnessing rapid transformations since the past few years. Countries across the world have preferred advanced solutions that are simple and effective in healthcare sector. With a need for better healthcare facilities, technology-enabled care (TEC) solutions are being preferred in the healthcare systems in the emerging economies. As per the India Brand Equity Foundation, the Indian pharmaceutical sector is expected to grow to US$ 100 billion, and the medical device market is expected to grow US$ 25 billion by 2025. Pharmaceuticals export from India stood at US$ 20.70 billion in 2020. In 2019, India’s domestic pharmaceutical market turnover reached Rs 1.4 lakh crore (US$ 20.03 billion), up by 9.8% y-o-y from Rs 129,015 crore (US$ 18.12 billion) in 2018.

Similarly, as per the authorized government portal site of China – China.org.cn, China's pharmaceutical market has been constantly growing in recent years, and is estimated to reach US$161.8 billion by 2023, taking a 30% share of the global pharmaceutical market.

Thus, growing healthcare industry in countries in Asia Pacific is likely to fuel the starch softgel capsules market in the region.

Based on application, the Asia Pacific starch softgel capsules market is segmented into pharmaceutical, health supplements, and others. In 2019, the health supplements segment held the largest share of the market. The segment is expected to grow at the fastest rate during the forecast period. In terms of distribution channel, the Asia Pacific starch softgel capsules market is categorized into supermarket and hypermarket, pharmacy and drugstore, and online provider. The pharmacy and drugstore segment held the highest share of the starch softgel capsules market in 2019. However, the online provider segment is anticipated to witness growth at a significant rate during the forecast period.

A few major secondary sources for Asia Pacific starch softgel capsules market included in the report are Centers for Disease Control and Prevention, World Heart Foundation, Global Nutrition Report, India Brand Equity Foundation, The Korean Diabetes Association, China.org.cn (China Government Portal), among others.