The global Tablet Coatings market reached a value of about USD 742.35 million in 2021. The industry is projected to grow at a CAGR of around 5.5% in the forecast period of 2022-2027 to reach a value of about USD 1028.20 million by 2027.
The global Tablet Coatings industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is driven by the extensive application of the product in the pharmaceutical industry paired with the increasing R&D activities. The key demand indicator is the highest category spender in the industry report by region—North America and Europe.
Tablet coating or film coating is a thin polymer-based layer applied on a solid medicinal dosage form, such as a tablet. The coatings are applied to dosage forms for various reasons, including aesthetic concerns like colour, gloss, and branding, enhancing shelf life by creating a protective barrier between the medicine and the environment, and making the dosage form simpler to swallow. The Tablet Coatings industry report comprises segments by end-use (Pharmaceuticals, Nutraceutical (Herbals, VMS)) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).
The North American and European region holds the largest share in the market due to North America driving the pharmaceuticals application sector's growth, accounting for more than half of all solid oral dosage form consumption. In these regions, the market maturity is very high. Furthermore, there is a significant demand for organic coating worldwide as it fits the desire for natural-ingredient dietary supplements propelling the industry growth.
The market is being driven by the developing pharmaceutical sector and increased R&D activity in the industry. The growing popularity of generics and the increasing use of orphan pharmaceuticals in the medical sector drive the market forward. Furthermore, the burgeoning biologics and biosimilars sector, paired with the shifting focus of pharmaceutical manufacturing to emerging markets and the increasing outsourcing of operations to these nations, provides considerable market expansion prospects. The coatings are made of cellulosic polymers, which have various properties like reduced susceptibility to wet granulation, excellent aqueous solubility, strong film strength, and improved tabletting at a cheaper cost. Furthermore, these coatings provide excellent moisture and light protection. Nonfunctional and non-modifying tablet coatings are easy to spot, have good flavour masking and mechanical strength, and are lightweight. As a result, the market is witnessing further growth. Other factors boosting the industry's expansion are the increasing generics market, the quickly developing biopharmaceuticals sector, and the growing nutraceutical industry.
However, the stringent regulatory policies by the government are likely to hamper the market growth.
The global Tablet Coatings industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Tablet Coatings regions, such as engagement models, contract terms, and buyer and supplier negotiation levers.
Coatings for pharmaceutical solid dosage forms can be applied using four methods. First, there is the sugar-coating technique, which is possibly one of the oldest pharmaceutical methods currently in use. Aqueous sugar solutions are deposited on the surface of the core tablet throughout the procedure. The deposit of a thin coating of film-forming polymeric material on the tablet core is known as a film coating. Compression coating, also known as press coating or dry coating, is the technique of compressing a thin dry granulation onto a medicine tablet core. This is done with the use of a tablet press. Because compression coating is primarily a dry technique, it may be appropriate for coating tablets containing heat and moisture-sensitive drugs like aspirin and penicillins. This coating method has also been used to segregate two incompatible active medicinal components in the tablet core and the coating. This coating process produces both repeat and sustained action tablets. The procedure entails the application of a very thin coating on a micron-sized particle of solids, liquids, or even gases. The main difference between microencapsulation and film coating is the size of the particles to be coated and the methods used to do it.
The industry is being propelled by the rising popularity of sports nutrition supplement markets, and the wide range of supplements in the market is propelling the industry's expansion. Furthermore, manufacturers are exhibiting increased interest in formulated and customised mixes, which is expected to drive the market growth in these categories by increasing the total addressable market for tablets and, as a result, strengthening the tablet coatings market. Furthermore, the growing focus on technical advances and sports nutrition in significant market areas presents prospective growth prospects for the tablet coatings market's leading competitors. In addition, the availability and development of novel tablet coating materials and enhanced machine designs all help to bring superior goods to the market. The growth in demand for the goods might be ascribed to private-sector and government expansions, which have allowed foreign direct investment (FDI) to enter regions with low penetration.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
Due to the existence of various companies, the worldwide tablet coatings market's competitive landscape is highly fragmented. Revenue growth based on increasing demand and product supply is a fundamental goal for players. Various firms will obtain a strategic position in the overall market rivalry through merger and acquisition tactics, joint ventures, and other partnerships. The research includes a list of current market participants and their essential contributions in the form of inventions and trends.
1. Executive Summary
2. Global Tablet Coatings Market Snapshot
2.1. Tablet Coatings Market Outlook
2.2. Tablet Coatings Industry Analysis by End Use
2.2.2. Nutraceutical (Herbals, VMS)
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
3. Impact of Recent Events
4. Tablet Coatings Value Chain Analysis
5. Tablet Coatings Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Tablet Coatings Cost Structure
9. Tablet Coatings Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Tablet Coatings Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Industry Best Practices
13.1. Sourcing Strategy
13.2. Procurement Model
13.3. Contract Structure
13.4. Negotiation Levers
13.5. Pricing Model
13.6. Key Factors Influencing the Quotation
14. Key Supplier Analysis
14.1. BASF SE
14.2. Evonik Industries AG
14.3. Colorcon, Inc
14.4. Seppic Chemicals Company
14.5. Sensient Technologies
The global Tablet Coatings market size was valued at USD 742.35 million in 2021.
As per the end-use provided, the pharmaceuticals segment is anticipated to lead the market between the period 2022 – 2027.
The significant demand for the product in the pharmaceutical industry is one of the essential drivers of the Tablet Coatings market growth.
Colorcon Inc., Sensient Technologies, Evonik Industries AG, BASF SE, Kerry Inc., and Ideal Cures Pvt. Ltd. are a few of the key companies in the market.
The North America and Europe region of the Tablet Coatings industry holds a significant share in the market.
The global Tablet Coatings market attained a value of USD 742.35 million in 2021, driven by the expanding pharmaceutical sector and increased R&D activity in the industry. The growing popularity of generics and the increasing use of orphan pharmaceuticals in the medical sector drive the market forward. Furthermore, various properties of the product are furthering the industry's potential. The rising consumer shift towards sports supplements, etc., further boosts sales in the sector. Aided by the manufacturers' growing research and development activities, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 5.5%. The market is projected to reach USD 1028.20 million by 2027. Some of the leading players in the industry are Colorcon Inc., Sensient Technologies, Evonik Industries AG, BASF SE, Kerry Inc., and Ideal Cures Pvt. Ltd.
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