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Empty Capsules Market Growth Offers Room to Grow to Existing & Emerging Players During Forecast Period

The empty capsules market was estimated at US$ 2.64 billion in 2021 and is expected to grow at a CAGR of 7.22% during 2022-2028 to reach US$ 4.31 billion in 2028.

The empty capsules market is an integral part of the pharmaceutical and nutraceutical industries. Empty capsules are primarily used for encapsulating substances such as powders, liquids, and semi-solids in a convenient and efficient manner. The capsules are available in a variety of sizes, types, and end-uses, making them a popular choice among manufacturers and consumers alike.

The empty capsules market was estimated at US$ 2.64 billion in 2021 and is expected to grow at a CAGR of 7.22% during 2022-2028 to reach US$ 4.31 billion in 2028.

Gelatin-based capsules have been traditionally used in the pharmaceutical industry due to their easy availability, low cost, and compatibility with a wide range of substances. However, there is a growing trend towards plant-based capsules due to concerns over the use of animal-derived gelatin capsules. Plant-based capsules are made from hypromellose or pullulan, which are derived from cellulose or starch. These capsules are also suitable for use in vegetarian and vegan products, making them a popular choice among consumers who are concerned about animal welfare.

Traditionally, gelatin-based capsules have been widely used due to their low cost and compatibility with a wide range of substances. However, there is a growing trend towards plant-based capsules due to concerns over the use of animal-derived gelatin capsules. Plant-based capsules are derived from cellulose or starch and are suitable for use in vegetarian and vegan products, making them a popular choice among consumers who are concerned about animal welfare.

The end-use of empty capsules includes pharmaceuticals, nutraceuticals, and cosmetics. In the pharmaceutical industry, capsules are used for delivering medications in a convenient and effective manner. They protect the active ingredients from degradation in the stomach and ensure targeted delivery to the site of action. In the nutraceutical industry, capsules are preferred over other forms of nutraceuticals due to their ease of use, portability, and controlled dosing. In the cosmetics industry, capsules are used for delivering skincare ingredients such as vitamins and antioxidants.

The demand for empty capsules is also driven by the increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases. Capsules are used for delivering medications in a convenient and effective manner. They protect the active ingredients from degradation in the stomach and ensure targeted delivery to the site of action. The increasing demand for innovative drug delivery systems is expected to boost the demand for empty capsules in the coming years.

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In addition to the pharmaceutical industry, the nutraceutical industry is also a major consumer of empty capsules. Nutraceuticals are food supplements that provide health benefits beyond basic nutrition. They are used for the prevention and treatment of various health conditions and are available in the form of capsules, tablets, powders, and liquids. Capsules are preferred over other forms of nutraceuticals due to their ease of use, portability, and controlled dosing.

The market is divided based on product, functionality, application, and type. On the basis of product type, the market is further segmented into gelatin capsules and non-gelatin capsules.

Based on application, the market is segmented into antibiotic and antibacterial drugs, vitamins and dietary supplements, antacid and antiflatulent preparations, cardiovascular therapy drugs, and others. In terms of application, the vitamin and dietary supplements segment was expected to account for the lion's share of the worldwide empty capsules market in 2021. During the forecast period, the sector is expected to dominate the global market. The population's adoption of preventative care methods is expected to drive the vitamin & dietary supplements segment during the forecast period. Increased investment by key players in vitamin and dietary supplements, as well as favourable trade regulations for dietary supplement import and export, are expected to boost the vitamin and dietary supplements segment during the forecast period.

Based on functionality, the empty capsules market has been divided into immediate-release capsules, delayed-release capsules, and sustained-release capsule.

On the basis of end user, the market is segmented into pharmaceutical industry, nutraceutical industry, cosmetics industry, research laboratories and others. The pharmaceutical industry segment is predicted to rise rapidly over the forecast period due to the expansion of the pharmaceutical industry and the increased usage of capsules in various purposes. Pharmaceuticals are the most common end-users of empty capsules (soft and hard capsules). The segment is being propelled by constant advancement in the pharmaceutical industry and frequent epidemics of chronic diseases around the world.

The empty capsules market is broken down geographically into geographies, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America has a sizable market share and is expected to maintain this trend over the forecast period. Because of the growing inclination for capsule-based nutraceutical formulations, the area maintains a significant share. Consumption of these nutraceuticals has increased since they help avoid significant health concerns such as obesity, cancer, and arthritis. Furthermore, because capsules are the most popular solid oral dose forms, there is a strong need for empty capsules in the nutraceutical industry in the region.

Key Players

The market for empty capsules is highly competitive. To secure their positions in a competitive industry, important competitors are forming strategic alliances and launching new products. The market players are highly focused on mergers, expansions, and product approvals, to sustain in this market. Below are a few key developments:

  • CapsCanada, a Lyfe Group firm, announced the debut of a new liquid-filled hard capsule manufacturing service in March 2021.
  • Dr. Reddy Laboratories acquired US Food and Drug Administration (USFDA) approval in August 2020 to launch generic Penicillamine capsules in the US market for the treatment of Wilson's disease and cystinuria.
  • Lonza invested CHF 85 million in its Capsules and Health Ingredients (CHI) division in October 2020 to increase its capsule manufacturing capacity by 30 billion capsules per year.
  • After negotiating agency and distribution partnership agreements with a number of market-leading organisations in the region, Qualicaps Europe established its presence in the Middle East and Africa in April 2020.
  • Lupin got permission from Canada's health regulator in September 2019 for its Propranolol Hydrochloride extended-release capsules, which are intended to treat hypertension and reduce the frequency of angina attacks. Product approvals are also predicted to increase during the projection period, boosting the segment.

The overall competitive landscape has been affected due to major key factors. The following are the major players in the empty capsules market:

  • ACG Worldwide
  • Lonza Group AG
  • Qualicaps
  • HealthCaps India Ltd.
  • Natural Capsules Limited
  • CapsCanada Corporation
  • Roxlor
  • Qingdao Yiqing Medicinal Capsules Co., Ltd.

In conclusion, the global empty capsules market is expected to witness significant growth in the coming years due to the increasing demand for plant-based and gelatin-free capsules, the growing prevalence of chronic diseases, and the rising demand for dietary supplements. The market is highly competitive, and the major players are focusing on product innovation and development to stay ahead of the competition. With the increasing demand for innovative drug delivery systems and the growing trend towards plant-based capsules, the empty capsules market is poised for significant growth in the coming years.

 

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