The empty capsules market has witnessed significant growth in recent years owing to the increasing demand for nutraceuticals and dietary supplements. Empty capsules are two-piece or four-piece shells made up of gelatin used for encapsulating active ingredients in pharmaceuticals and nutraceutical products. They provide numerous advantages over other formulations including ease of swallowing, accurate dosing, and protection of actives from environmental degradation. Rising health consciousness among consumers and growing preference for dietary supplements to fulfill the daily nutrient requirements have boosted the demand for empty capsules.
The Global Empty Capsules Market is estimated to be valued at US$2.3 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.
Key Takeaways
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.
The demand for empty capsules has been steadily growing backed by the increasing adoption of capsule dosage forms as an ideal delivery format for various applications. The empty capsules market is also driven by the expanding nutraceutical industry and rising consumption of dietary supplements and functional foods globally.
Geographically, the Americas dominate the empty capsules market owing to the established pharmaceutical industry and presence of leading capsule manufacturers. However, the Asia Pacific region is expected to witness the highest growth during the forecast period owing to growing pharmaceuticals and nutraceuticals production as well as increasing health expenditure in developing countries such as China and India.
Market Drivers
The rapidly growing nutraceutical industry is a major driver supplementing the growth of the empty capsules market. Expanding consumer awareness regarding health benefits of nutraceuticals and nutritional supplements has boosted the demand for functional food and dietary capsules significantly. This has prompted many pharmaceutical companies to develop capsule-based formulations in the nutraceutical segment. Rising health consciousness and shifting preferences towards preventive healthcare are some other key factors expected to fuel the growth of the empty capsules market over the coming years.
Impact of Geopolitical Situation on Empty Capsules Market Growth
The empty capsules market is facing challenges due to the ongoing geopolitical uncertainties and tensions across various regions. Rising conflicts and sanctions have disrupted supply chains while increasing raw material costs. Manufacturers are facing difficulties in procuring essential excipients and polymers from sanction-hit countries. This is negatively impacting production volumes and margins. In the long run, over-dependence on a few regions for raw materials can threaten the stability of supply. To manage risks, companies need to diversify their sourcing bases, develop alternative supply routes, and support local manufacturing where possible. This allows building resilience against regional political tensions and economic volatility. Investing in automated production facilities also helps boost output flexibility and insulates against disruptions. Looking ahead, establishing manufacturing hubs across strategic global locations with favorable trade policies and stability can help serve demand reliably across continents. Networking with regional partners aids knowledge sharing and collaboration to overcome challenges. Overall, a diversified and adaptable business model is critical for the empty capsules industry to navigate the current geopolitical environment.
Fastest Growing Region for Empty Capsules Market
The Asia Pacific region, led by China and India, is poised to be the fastest growing regional market for empty capsules during the forecast period till 2030. This growth can be attributed to the increasing incomes, healthcare spending, and generic drug manufacturing capabilities in these countries. Rapid economic expansion coupled with a large patient pool makes Asia Pacific highly attractive for pharmaceutical firms. Further, presence of international as well as local empty capsule makers exploring business opportunities through joint ventures, partnerships and acquisition is propelling regional market expansion. Governments’ push for improving access to affordable medicines is also driving volume consumption of low-cost capsules across Asia. With global manufacturers increasingly shifting focus towards the region, the Asia Pacific empty capsules market is projected to attract significant investments and witness double-digit growth over the next decade. Its low manufacturing costs provide a competitive edge in serving both domestic and export demands.
[206 Pages Report] MarketsandMarkets forecasts the Empty Capsules market to grow from USD 1.95 billion in 2018 to USD 2.79 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period.
A softgel consists of a gelatin-based shell surrounding a liquid or semi-solid (inner fill) drug or extract in the center.
Softgel capsules offer several benefits to consumers such as convenience, enhanced efficacy, and bioavailability.
Enteric softgel capsules are expected to exhibit significant market growth during the forecast period, owing to rise in adoption of enteric softgel, surge in demand for omega-3 supplements, growth in promotional activities by manufacturers, and rise in consumer awareness for preventative healthcare.
The global softgel capsules market is estimated to grow at a CAGR of approximately 5% during the forecast period to reach approximately USD 2.5 billion by 2025.Market Dynamics1.
Over the years, capsule delivery has witnessed a number of technological advancements in terms of product enhancements for better quality outcomes and patient comfort.
According to the new market research report “Empty Capsules Market by Type (Gelatin (Porcine, Bovine), Non gelatin (HPMC, Pullulan)), Functionality (Delayed release), Application (Antibiotics, Dietary Supplements, Anti- Inflammatory), End User (Pharma, Nutraceuticals) – Global Forecast to 2026″, published by MarketsandMarkets™, the global market is projected to reach USD 3.7 billion by 2026 from USD 2.6 billion in 2021, at a CAGR of 7.2% during the forecast period.Browse and in-depth TOC on “Empty Capsules Market”176 – Tables40 – Figures216 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=218018190The overall growth of the Empty Capsules Market is largely driven by the growing adoption of capsule formulations among the growing geriatric population, the growth of the pharmaceutical market, increasing R activities & clinical trial studies, and advancements in capsule delivery technologies.
Emerging markets, with their low manufacturing costs, are expected to present significant opportunities for players.
Other areas of opportunity are the development of halal gelatin and vegetarian capsules.Gelatin accounted for the largest share of Empty Capsules MarketBased on type, the market is categorized into gelatin capsules and non-gelatin capsules.
The various advantages of gelatin capsules, such as rapid drug release, uniform mixing of drugs, and a barrier to atmospheric oxygen (preventing oxidation of drug molecules), make them a preferred choice for manufacturing capsule shells.Immediate-release capsules accounted for the largest share of Empty Capsules MarketBased on functionality, the market has been segmented into immediate-release, sustained-release, and delayed-release capsules.
This is because immediate-release capsules are widely used to manufacture antibiotics, antibacterial, antacids, painkillers, inhalators, cold and cough drug preparations, and dietary supplements.Antibiotic & antibacterial drugs accounted for the largest share of marketBased on therapeutic applications, the market is segmented into antibiotic & antibacterial drugs, dietary supplements, antacid & antiflatulent preparations, antianemic preparations (hematinic), anti-inflammatory drugs, cardiovascular therapy drugs, cough & cold drugs, and other therapeutic applications.
The antibiotic & antibacterial drugs segment accounted for the largest share of 33.1% of the Empty Capsules Market in 2020.The dietary supplements segment is expected to witness the highest CAGR of 8.2% during the forecast period.
