Softgel Tumble Drye Market
The global softgel tumble dryer market size was valued at USD 95 million in 2021 and is projected to reach around USD 200 million in 2030 exhibiting a CAGR of 10.5% in the forecasted period.
The key factors disturbing the industrial growth include the increase in pharmaceutical and nutritional supplements for softgel manufacturing and upsurge in technologically innovative equipment and machinery which would benefit the market grow considerably during the forecasted period. However, the high operational costs, growing fuel consumption may obstruct the industrial growth in the commenced period.
Softgels manufacturers are foremost buyers of softgels tumble dryers. These players are involved in developing softgels in large volumes, where softgels manufacturing machines such as encapsulation machines, dryers, and others are necessary. Consequently, development of manufacture amenities by softgels manufacturers is anticipated to boost the growth of the global softgel tumble dryer market. For instance, in June 2020, Catalent completed the expansion programme at its consumer health manufacturing services in Strathroy, Canada and Sorocaba, Brazil. The new development projects include softgel encapsulation lines at each site, devoted to Catalent’s proprietary Vegicaps plant-based capsule and CosmoPod twist-off capsule technologies. Softgel capsules drop out from the encapsulation machine and are soft, wet, and fragile, which have to be transmitted to softgel tumbler dryer for further shaping and cooling.
The coronavirus (COVID-19) pandemic has diseased nearly every business in the world, containing machinery manufacturing. Numerous countries such as India, Italy, and China have enforced national lockdowns to combat the COVID-19 pandemic, enabling it in stages and over industry. This has ensured a major consequence on machinery manufacturing, as factories all across the world have been momentarily shut down.
Instrument Type Insights
Based on the instrument type, the global softgel tumble dryer market is bifurcated into standard tumble drying and continuous tumble drying. The standard tumble drying segment held the maximum share in 2021 and is estimated to hold the position during the forecasted period due to its more accessibility in the market for the use in the pharmaceutical industry. However, the continuous tumble drying is anticipated to grow at the fastest growth rate. The continuous tumble dryers do not need drying trays.
Region Insights
North America, particularly The United States, will play a significant role in the market growth. Any changes from United States might impact the development trend of softgel tumble dryer. The market in North America is projected to grow significantly during the forecasted period. The high adoption of innovative technology and the existence of large players in this region are expected to create sufficient growth opportunities for the market.
The Asia Pacific was the fastest growing regional market in the forecasted period. The region is anticipated to continue its governance over the forecast period due to rising demand from end-use industries such as food & beverage, pharmaceutical, and cosmetics. Growing disposable income coupled with an increasing population has resulted in an augmented demand for consumer health products which will hence drive industry growth.
Key Companies Insights
The market for softgel tumble dryer is moderately competitive. With the rising applications of softgel tumble dryer, new players are considering to enter the market. The companies are also involved in events like acquisitions, joint ventures, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the softgel tumble dryer market, ultimately boosting the market growth.
Some of the key companies working in the global softgel tumble dryer market include:
• Changsung Softgel System Ltd.
• SKY SOFTGEL CO.
• GIC Engineering
• KAATA CO., LTD.
• TOOLTRONICS
• SaintyCo
• Technophar
• JOYSUN PHARMA
• Wuxi Jangli Machinery Co., Ltd.
• CapPlus Technologies
• SEC Softgel Technology
• Mysoftgel Co.
• Beijing KunYou Pharmatech Co Ltd.
• Other players
Some of the Recent Developments:
• In July 2018, Zenabis Ltd. signed an extensive strategic production deal with Capcium Inc., a Montreal-based contract manufacturing platform that specialises in softgel manufacturing.
Segments By Instrument Type • Standard Tumble Drying
• Continuous Tumble Drying
By End User
• Pharmaceutical Companies
• Health Supplements
• Others
Softgel Tumble Drye Market : By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt