The empty capsules market is witnessing robust demand due to the growing preference for soft gel-based capsules as delivery vehicles for different essential nutrients such as vitamins, minerals, and herbal extracts. Empty capsules are gelatin-based shells that are filled with active ingredients to produce capsules that easily enter the stomach and swiftly release the encapsulated contents. The growing demand for supplements and dietary supplements globally is fueling the consumption of empty capsules. The empty capsules are widely adopted in the nutraceuticals, pharmaceuticals, cosmetic, and medical sectors for their ease of administration and precise dosing benefits. The 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 of 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. These leading capsule manufacturers are focusing on capacity expansion plans and new product launches to strengthen their market position.
There is high growth potential for empty capsules in nutraceuticals, probiotics, and other functional foods. The growing demand for dietary supplements and cosmeceuticals offering specific wellness benefits presents significant opportunities.
Asia Pacific region especially China, India, and Southeast Asia is witnessing rapid economic development and rising health awareness. Industry players are expanding their manufacturing facilities and distribution networks in these high growth potential markets.
Market Drivers
Nutraceuticals to Drive Adoption: Growing consumer preference for natural health remedies is boosting the demand for nutritional supplements globally. As empty capsules are ideal formats for delivering vitamins, minerals, and herbal extracts, their consumption is accelerating.
Favorable Regulatory Environment: Stringent safety and quality regulations ensure the dependability of empty capsules. Regulatory approval for new applications in drugs and cosmetics are augmenting their commercialization further.
Market Restraints
High Production Cost: The gelatin-based formulation and sterilization requirements make empty capsules relatively expensive to manufacture compared to tablets. This can limit their uptake in price-sensitive markets.
Supply Chain Disruptions: Raw material price volatility and disruptions during the COVID-19 pandemic impacted empty capsule suppliers. Demand-supply mismatch can pose challenges for stakeholders.
Segment Analysis
Gelatin capsules dominate the empty capsules market accounting for over 80% share. Gelatin capsules are preferred for pharmaceutical applications due to their compatibility for various active ingredients and ease of swallowing. Vegetarian capsules are emerging as an alternative for the large subset of population who prefer non-animal sources. The vegetarian capsules segment is growing at a faster pace due to increasing veganism and plant-based diet trends globally.
Regional Analysis
North America dominates the global empty capsules market led by the US which accounts for over 40% share of the global market. Presence of major players, robust healthcare infrastructure and rising healthcare expenditure fuels the market growth in the region. Asia Pacific is the fastest growing market for empty capsules due to growing generics market in countries like India and China. Increasing R&D investments by prominent players and shifting of manufacturing facilities to these countries by major players also support market growth. Emerging markets offer lucrative opportunities for leading as well as local players to further expand their geographic footprint.
[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.
