Categories
Archives
Empty Capsules Market Poised for Steady Growth Due to Growing
-
The empty capsules market has witnessed significant growth in recent years owing to the increasing demand for dietary supplements and nutraceutical products. Empty capsules are two-piece capsules used for encapsulating pharmaceutical drugs as well as various nutritional and herbal supplements. They provide a convenient way of taking medications and ensure efficient absorption of active ingredients in the body. Growing health-consciousness and preference for natural remedies have boosted the consumption of dietary supplements, driving the need for empty capsules. Various advantages associated with empty capsules such as ease of swallowing, customized dosage, and protection of ingredients from gastric acids make them a preferred format in the supplements industry. The availability of empty capsules in different sizes suitable for a wide range of formulations further supplements market growth.
Global empty capsules market is estimated to be valued at USD 3.21 Bn in 2024 and is expected to reach USD 4.91 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Key Takeaways
Capsugel, ACG Worldwide, and Qingdao Yiqing Medicinal Capsules are the major players in empty capsules market.
Lack of high-quality raw materials remains a key challenge for market players. Development of vegetarian capsules using plant-based hypromellose presents lucrative growth opportunities.
Increasing penetration in emerging economies of Asia Pacific and Latin America through partnerships with regional supplements companies will help accelerate global expansion plans of major empty capsules manufacturers.
Market Drivers
Empty Capsules Market demand for dietary supplements and nutraceutical products globally due to increasing lifestyle diseases and health awareness is a major market driver. Quality of life improvements and fast-paced life have also boosted the demand for convenient dietary supplements, propelling empty capsules market growth. Easy availability of empty capsules in customized specifications such as size, shape, and material type further supplements the market.
Market Restraints
Stringent regulatory control over gelatin and vegetarian capsules production has significantly increased raw material and compliance costs. In many countries, including Japan and India, gelatin capsules are prohibited for vegetarians and vegans, posing restraint to the market. The COVID-19 pandemic has disrupted raw material supply chains and trade routes, posing a challenge. Raw material shortage and supply chain issues are likely to remain key market restraints over the forecast period.
Segment Analysis
The empty capsules market can be segmented based on product, raw material, application, and end-user. Based on product, the gelatin capsule segment currently dominates the market due to its lower manufacturing cost as compared to other raw material capsules. Gelatin capsules are highly popular in pharmaceutical applications as they are easily absorbed in the body. The vegetarian capsules segment is expected to witness the highest growth during the forecast period owing to the increasing demand for plant-based capsules from vegan and vegetarian consumers.
Global Analysis
The Asia Pacific region currently dominates the empty capsules market and is expected to grow at the fastest rate during the forecast period. This is due to the presence of a large pool of raw material suppliers and capsule manufacturers in the region, especially in India and China. The growing pharmaceutical manufacturing industry in Asia Pacific countries like India is also driving market growth. North America is another major market for empty capsules owing to the large pharmaceutical industry and growing health supplements market in the region. The market in Western European countries is comparatively matured, however, countries like Germany still offer lucrative opportunities for capsule manufacturers.Get More Insights On Empty Capsules Market
Get this Report in Japanese Language
Get this Reports in Korean Language
About Author:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/ )