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Empty capsules are two-piece gelatin casings that are used for encapsulating pharmaceutical drugs and nutraceutical ingredients. Pharmaceutical drugs and supplements encapsulated in empty capsules offer numerous benefits such as accurate dosing of drugs, easy swallowing of large pills and tablets, and protection of ingredients from gastric juices in the stomach. Commonly used empty capsules include hard gelatin capsules and vegetarian capsules. Hard gelatin capsules are made from animal sources such as bovine and pork skin or fish scale gelatin, while vegetarian capsules use cellulose or hydroxypropyl methylcellulose (HPMC) in place of animal gelatin.
The global empty capsules market is estimated to be valued at US$2.3 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics: The empty capsules market is expected to be flourished by rising demand for nutraceutical products. As mentioned in the heading, growing consumption of dietary supplements, herbal medicines, and functional foods has boosted the demand for empty capsules from nutraceutical manufacturers globally. Empty capsules are a preferred format for encapsulating active ingredients in nutraceutical products due to their benefits like accurate dosing and easy administration. Additionally, changing consumer lifestyle and increasing health consciousness has propelled the growth of nutraceuticals industry which in turn has driven the empty capsules market size over the recent years. Another driver for this market is the rising prevalence of lifestyle diseases like diabetes, obesity, and cardiovascular disorders. Developed regions like North America and Europe contribute significantly to the global empty capsules market due to the high adoption of nutraceutical products coupled with presence of major capsule manufacturers in these regions.
Segment Analysis
The empty capsules market can be segmented based on product, raw material, application, end user, and region. Based on product, the gelatin capsules segment dominates with over 70% market share as gelatin provides hardness and is inexpensive. The vegetarian capsules segment is growing at a faster pace due to the increasing demand for vegetable-based capsules from vegan and vegetarian consumers.
PEST Analysis
Political: Regulations regarding empty capsule manufacturing are well defined to ensure quality and safety. The approval process for new facilities is smooth.
Economic: The growth of the pharmaceutical industry and increasing healthcare spending is fueling empty capsule demand. However, rising raw material costs may increase product prices.
Social: Rising lifestyle and chronic diseases are driving the demand for nutritional supplements and medicines, boosting the empty capsules market. Growing health consciousness is raising awareness about ingredient sources.
Technological: Manufacturers are utilizing advanced production technologies for consistency and precision. 3D printing offers opportunities for customized shapes and sizes.
Key Takeaways
The global empty capsules market is expected to witness high growth at a CAGR of 7.9% during the forecast period of 2023 to 2030.
Regionally, North America dominates with over 35% share owing to the large pharmaceutical industry and healthcare spending in the US. Asia Pacific is expected to see the fastest growth at 9.5% CAGR due to rising incomes, expanding pharmaceutical sectors in India and China, and growing health awareness. The region accounted for over 35% market share in 2024. However, Asia Pacific is expected to witness the fastest growth during the forecast period, growing at a CAGR of 9.5% between 2023 and 2030. This can be attributed to factors such as rising incomes, growing aging population, increasing healthcare spending, and expanding pharmaceutical industries in India and China.
Key players related content comprises
Key players operating in the empty capsules market are ACG Worldwide, Capsugel, Qualicaps Inc., Bright Pharma Caps Inc., Sunil Healthcare Ltd., CapsCanada Corporation, Roxlor LLC, Snail Pharma Industry Co. Ltd., Suheung Co. Ltd., and Medi-Caps Ltd. Key players are focusing on capacity expansion, new product launches, and mergers & acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
