CHICAGO, March 23, 2023 /PRNewswire/ -- The empty capsules industry is expected to experience steady growth in the near future. This is due to the increased demand for empty capsules as a result of the growing popularity of dietary supplements and nutraceuticals. The increasing awareness about health and wellness among consumers is likely to drive the demand for empty capsules. Manufacturers are expected to focus on developing innovative products in order to meet the growing needs of consumers. In addition, the growing penetration of online retail channels is likely to further boost the growth of the empty capsules industry. Governments in various countries are also likely to provide financial support to manufacturers in order to encourage them to develop new products. These factors are likely to contribute to the growth of the empty capsules industry in the near future.
Empty Capsules Market in terms of revenue was estimated to be worth $3.2 billion in 2023 and is poised to reach $4.9 billion by 2028, growing at a CAGR of 9.3% from 2023 to 2028 according to a new report by MarketsandMarketstm. Factors such as rising R&D activities in empty capsules and increasing use of nutraceuticals are driving the growth of this market. However, dietary restrictions and cultural practices are the major factors restraining the growth of this market.
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Empty Capsules Market Scope:
Market Revenue in 2023
Estimated Value by 2028
Poised to grow at a CAGR of 9.3%
Market Size Available for
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Type, Functionality, Therapeutic Application, End User, and Region
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Updated financial information / product portfolio of players
Key Market Opportunities
Expansion of capsules manufacturing in emerging countries
Key Market Drivers
Increased demand of nutraceuticals is likely to upsurge the market growth
The gelatin capsules segment accounted for the largest share of the type segment in the empty capsules market in 2022.
Based on type, the empty capsules market is broadly segmented into gelatin capsules, and non-gelatin capsules. In 2022, gelatin capsules accounted for the largest share of the empty capsules market for type. This segment's large share can be attributed to factors such as the availability of gelatin for capsule manufacturing and low cost of gelatin.
The immediate-release capsules segment accounted for the largest share of the functionality segment in the empty capsules market in 2022.
Based on functionality, the empty capsules market is categorized into three segments?immediate-release capsules, sustained-release, and delayed release capsules. In 2022, immediate-release capsules segment accounted for the largest share of empty capsules market. Factors such as the wide utilization of immediate-release capsules in pharmaceutical and cosmetic industry are projecting the segmental growth.
Asia Pacific is likely to grow at double digit growth rate during the forecast period.
The Asia Pacific region is estimated to grow at the highest CAGR in the empty capsules market during the forecast period, this is mainly due to the growth in Asian pharmaceutical markets and their manufacturing capacities. Moreover, fast growing R&D infrastructure along with large number of scientific talents in the countries of this region is likely to boost the market. Also, growing generic drug manufacturing in the region is attracting several foreign investors in the market.
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Empty Capsules Market Dynamics:
Key Market Players:
Some of the prominent players in the empty capsules market are Capsugel (US), ACG Worldwide (India), Qualicaps (US), CapsCanada Corporation (Canada), Suheung Co. Ltd., Natural Capsules (India), (Korea), and among others.
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Empty Capsules Market Advantages:
Empty Capsules Market - Report Highlights:
Refinement in the segments of the global Empty Capsules market:
Drug Discovery Services Market - Global Forecasts to 2028
Sterility Testing Market - Global Forecasts to 2028
Pharmaceutical Excipients Market - Global Forecasts to 2027
High Potency APIs Market - Global Forecasts to 2027
Active Pharmaceutical Ingredient Market - Global Forecasts to 2027
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