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Classified in: Health
Subject: MRR

Empty Capsules Market worth $4.9 billion | MarketsandMarkets


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.

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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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Browse in-depth TOC on "Empty Capsules Market" 
247 - Tables 
38 - Figures 
239 - Pages

Empty Capsules Market Scope:

Report Coverage

Details

Market Revenue in 2023

$3.2 billion

Estimated Value by 2028

$4.9 billion

Growth Rate

Poised to grow at a CAGR of 9.3%

Market Size Available for

2021-2028

Forecast Period

2023?2028

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Type, Functionality, Therapeutic Application, End User, and Region

Geographies Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Highlights

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:

Drivers:

  1. Increasing demand for nutraceuticals
  2. Growth in pharmaceutical market and increasing number of clinical trials and R&D activities
  3. Advancements in capsule delivery technologies
  4. Benefits of capsules over other dosage forms

Restraints:

  1. Cultural practices and dietary restrictions

Opportunities:

  1. Expansion of capsule production in emerging countries
  2. Development of halal gelatin and vegetarian capsules

Challenges:

  1. Rising prices and lower availability of raw materials in gelatin industry

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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Recent Developments:

Empty Capsules Market Advantages:

Empty Capsules Market - Report Highlights:

Refinement in the segments of the global Empty Capsules market:

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Active Pharmaceutical Ingredient Market - Global Forecasts to 2027

About MarketsandMarketstm:

MarketsandMarketstm is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoretm (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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