$4.9 Billion Forecasted for the Empty Capsules Market by 2028

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$4.9 Billion Forecasted for the Empty Capsules Market by 2028

October 03
21:40 2023
$4.9 Billion Forecasted for the Empty Capsules Market by 2028
Browse 247 market data Tables and 38 Figures spread through 248 Pages and in-depth TOC on “Empty Capsules Market by Type (Gelatin, Non-gelatin), Functionality (Immediate-release, Sustained-release, Delayed Release), Therapeutic Application, End User (Pharmaceutical, Nutraceutical, Cosmetic, Reference Laboratories) – Global Forecast to 2028”
Empty Capsules Market in terms of revenue was estimated to be worth $3.2 billion in 2023 and is poised to reach $4.9 billion by 2028, growing at a CAGR of 9.3% from 2023 to 2028 according to a new report by MarketsandMarkets™.

The empty capsules market is projected to reach USD 4.9 billion by 2028 from USD 3.2 billion in 2023, at a CAGR of 9.3% during the forecast period. The growth of this market is mainly driven by increasing demand of dietary nutraceuticals.

The empty capsules market refers to the industry that manufactures and sells empty capsules primarily for pharmaceutical and dietary supplement applications. Empty capsules are typically made from gelatin or vegetarian alternatives like hydroxypropyl methylcellulose (HPMC) and are used to encapsulate various active ingredients such as drugs, vitamins, minerals, herbs, and other supplements.

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Key aspects of the empty capsules market include:

Materials: Empty capsules are primarily made from two main materials – gelatin capsules and vegetarian capsules (HPMC or cellulose-based capsules).

Pharmaceuticals: Empty capsules are commonly used in the pharmaceutical industry to manufacture solid oral dosage forms.

Dietary Supplements: The dietary supplement industry relies heavily on empty capsules to encapsulate various vitamins, minerals, herbal extracts, and other nutritional supplements.

Size and Varieties: Empty capsules come in various sizes, including 000, 00, 0, 1, 2, 3, 4, and 5, with 00 being one of the most common sizes. Different sizes accommodate different fill volumes. They can also be clear or colored and may be available in various shapes.

Technological Advancements: Ongoing research and development efforts have led to advancements in capsule production techniques and materials.

Customization: Some manufacturers offer customization services, allowing pharmaceutical and supplement companies to print logos, branding, and other information on the capsules.

Sustainability: In recent years, there has been a growing focus on the sustainability of capsule materials, leading to innovations in biodegradable and eco-friendly capsule options.

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Key Market Players

Capsugel (US), ACG Worldwide (India), Qualicaps (US), CapsCanada Corporation (Canada), Suheung Co. Ltd. (Korea), and Natural Capsules (India).

Capsugel (US) is one of the leading players in the empty capsules market. The company’s leading position is attributable to its diversified product portfolio, strong geographic presence, and adoption of organic and inorganic growth strategies.

ACG Worldwide is one of the leading players in the empty capsules market. It offers specialty empty hard capsules. The company has a wide geographical footprint and is further expanding its network across the globe.

Asia Pacific is likely to grow at double digit growth rate during the forecast period.

The Asia Pacific region is estimated to grow at the highest CAGR in the empty capsules market during the forecast period, this is mainly due to the growth in Asian pharmaceutical markets and their manufacturing capacities. Moreover, fast growing R&D infrastructure alongwith large number of scientific talent in the countries of this region is likely to boost the market.

Empty Capsules Market Dynamics:

Drivers:

  • Increasing demand for nutraceuticals
  • Growth in pharmaceutical market and increasing number of clinical trials and R&D activities
  • Advancements in capsule delivery technologies
  • Benefits of capsules over other dosage forms

Restraints:

  • Cultural practices and dietary restrictions

Opportunities:

  • Expansion of capsule production in emerging countries
  • Development of halal gelatin and vegetarian capsules

Challenges:

  • Rising prices and lower availability of raw materials in gelatin industry 

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About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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