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The global empty capsules market consists of gelatin and non-gelatin based capsules that are used for encapsulation of both pharmaceutical as well as nutraceutical products. Empty capsules are made from different types of gelatins, starch and hydroxypropyl methylcellulose (HPMC) that provide several advantages over tablet dosage forms such as easy administration, prevention of taste and odor issues. Empty capsules allow encapsulation of both liquid and solid pharmaceuticals and nutraceuticals enabling controlled and targeted drug release. The adoption of capsule dosage forms is rising globally due to rising patient preference for oral administration of drugs in easy to swallow gelatin forms. The presence of transparent gelatin capsules enables visibility of contents and dose uniformity.
The global Empty Capsules Market is estimated to be valued at US$2.3 Billion in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the empty capsules market is the increasing adoption of vegetarian and kosher capsules. Rising demand from vegetarian and vegan population has increased the development of plant-based or vegetable-based capsule shells and formulations that do not contain animal by-products like gelatin. Manufacturers are focusing on developing innovative vegetarian capsules from materials such as cellulose and HMPC to reduce dependency on gelatin and its shortage issues especially during pandemics. New capsule shell offerings are enabling encapsulation of wider range of pharmaceutical and nutraceutical ingredients for the vegan population. This expanding product offerings catering to unique customer requirements is expected to support market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the need for high capital investments required to establish manufacturing facilities.
Bargaining power of buyers: The bargaining power of buyers is high as the empty capsules market has numerous established players who supply customized products.
Bargaining power of suppliers: The bargaining power of suppliers is low given the significant raw material suppliers in the market.
Threat of new substitutes: The threat of new substitutes is low as empty capsules have strong product differentiation against other alternatives.
Competitive rivalry: The competitive rivalry is high given the presence of numerous global and regional suppliers.
Key Takeaways
The global empty capsules market is expected to witness high growth. The global Empty Capsules Market is estimated to be valued at US$2.3 Billion in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024-2030.
Regional analysis comprises Asia Pacific dominating the global empty capsules market followed by North America and Europe. In Asia Pacific, China and India are major markets. North America also represents a significant share in the global empty capsules market. Growth in North America is driven by rising popularity of vegetarian and kosher capsules among consumers. Europe is also a major market for empty capsules owing to growing adoption of healthy lifestyles.
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 new product launches and expansion in emerging markets for long term growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
