Empty Capsules Market
Number of pages: 120 | Report Format: PDF | Published date: February 07, 2021
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 3.16 billion |
|
Revenue Forecast in 2031 |
US$ 6.92 billion |
|
CAGR |
9.1% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023-2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Product, Functionality, Applications, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global empty capsules market was valued at US$ 3.16 billion in 2022 and is expected to register a revenue CAGR of 9.1% to reach US$ 6.92 billion by 2031.
Empty Capsules Market Fundamentals
Capsules, a type of dosage form in medication, are widespread in day-to-day health management. Capsules are composed of gelatin (hard or soft) and non-gelatin shells generated from the hydrolysis of collagen (acid, alkaline, enzymatic, or thermal hydrolysis) of animal origin or cellulose-based. Gelatin capsules have been used for over a century and have a well-known safety and toxicity profile. Gelatin is easily obtained by the hydrolysis of collagen, whereas HPMC is created through a synthetic technique. Raw materials for gelatin are widely accessible in the market. They can meet the needs of Indian enterprises, but raw materials for non-gelatin are scarce and hence four times more expensive than their gelatin alternate. Furthermore, the majority of the vegetable capsule shell technologies are in the patent period, contributing to the cost component of these capsule shells.
[342323]
Empty Capsules Market Dynamics
A rise in the popularity of capsules over alternative drug delivery forms and an increase in strategic alliances between empty capsule providers and gelatin producers are major drivers driving market expansion. Furthermore, the world's expanding senior population raises the demand for various therapeutic medications and nutritional supplements to improve health results. According to the United Nations, World Ageing Population: the 2020 Revision, nearly 1.5 billion people will be over 65 years old by 2050, up from 727 million in 2020. Furthermore, fast improvements in capsule delivery technologies are expected to complement market growth.
According to WHO, there is a significant rise in cardiovascular illnesses worldwide, and over 17 million people will die by 2021. Moreover, according to the American Heart Association Research Report 2020, cardiovascular disease is the top cause of mortality in the United States. The demand for empty capsules has increased rapidly in recent years and is likely to increase significantly more throughout the projection period. This growth may be ascribed to significant R&D for developing capsules for treating all types of diseases at a lesser cost, scientific partnerships, and increased demand for nutritional supplements and immune boosters.
Pharmaceutical companies increasing investments in emerging markets drive the region's market growth. Manufacturers of empty capsules are establishing new manufacturing plants and expanding manufacturing capacity in growing markets. Qualicaps Europe S.A.U, for example, extended its presence in South Asia in February 2021. In addition to two European production facilities, the business has capsule manufacturing expertise throughout the EMEA and South Asia. Furthermore, Lonza invested USD 93 million (CHF 85 million) in its Capsules and Health Ingredients (CHI) Division, a dosage form delivery partner to the biopharma and health nutrition industries, in October 2020. The investment was designed to increase the entire manufacturing capacity of capsules within CHI's Capsugel portfolio by 30 billion capsules per year while keeping Lonza's Sigma Series’ high-quality requirements. The investment is projected to raise its capsule production capacity by 15.0%. However, ethical issues, price variations in gelatin materials, and stringent pharmaceutical sector regulations are projected to stymie market expansion.
Empty Capsules Market Ecosystem
The global empty capsules market is analyzed from the following perspectives: product, functionality, application, end user, and region.
Empty Capsules Market by Product
[23322323]
Based on the product, the empty capsules market is segmented into gelatin capsules and non-gelatin capsules. The gelatin capsules segment is further segmented into pig meat gelatin, bone meal, bovine-derived gelatin, and other gelatin sources. The non-gelatin capsules segment is further segmented into hydroxypropyl methylcellulose (HPMC) and pullulan & starch material.
The non-gelatin capsules segment is expected to grow at a higher CAGR during the forecast period. The advantages of non-gelatin capsules, such as greater resistance to humidity and heat and growing demand for non-animal-based products, contribute to this segment’s growth. For instance, in April 2023, IFF stated that it had successfully encapsulated high-viscosity liquid and semi-liquid nutritious substances inside a plant-based non-gelatin soft-shell capsule using its proprietary SeaGel technology. IFF encapsulated NovaSOL Curcumin and NovaSOL Curcumin/Boswellia from Aquanova AG, a German B2B provider of liquid colloidal formulations. This is an industry-first technical advance, according to IFF. Additionally, in December 2021, Roquette, located in Illinois, used its expertise in the plant-based pharmaceutical excipients company to bring a completely new animal-free soft gel product to market. Lycagel Premix was created utilizing the company's pea starch technology and replicates gelatin capsules across a number of performance metrics. Manufacturers may use the premix without costly retooling, making it a simple substitute.
Empty Capsules Market by Functionality
Based on the functionality, the global empty capsules market is segmented into immediate-release capsules, sustained-release capsules, and delayed-release capsules.
The immediate-release capsules segment accounted for the largest revenue share of the empty capsules market. Immediate-release capsules are among the most prescribed by doctors as they start working quickly. Further, the immediate-release capsules are used for manufacturing the majority of antibiotics, painkillers, and dietary supplements. This factor is further driving segmental growth.
Empty Capsules Market by Application
Based on the application, the global empty capsules market is segmented into antibiotic and antibacterial drugs; vitamins and dietary supplements; cough and cold drugs; antacid and antiflatulent preparations; antianemic preparations; anti-inflammatory drugs; cardiovascular therapy drugs; and other applications.
The antibiotics and antibacterial drugs segment made for the highest market share. The increased prevalence of illnesses caused by bacteria and germs, such as the common cold and cough, raises the need for antibiotics and antibacterial medications, which can be attributed to the segment's growth. Most people with a common cold, fever, or other bacterial infections prefer to take their medications in capsule form, fueling market development. However, the vitamins and dietary supplements segment is expected to register the fastest CAGR during the forecast period. Factors such as the increasing prevalence of lifestyle diseases and rising health awareness among the population drive segmental growth.
Empty Capsules Market by End User
Based on the end-user, the global empty capsules market is segmented into the pharmaceutical industry, nutraceutical industry, cosmetic industry, and research laboratories.
The nutraceutical industry segment is expected to register the highest revenue CAGR of approx. 40% during the forecast period. The revenue growth of this segment can be attributed to factors such as changing lifestyle patterns, rising health consciousness among the population, and increasing consumption of nutraceutical products (particularly dietary supplements).
Empty Capsules Market by Region
The global empty capsules market is segmented based on the region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America accounted for the highest revenue share in the empty capsules market, and it is expected to expand at a rapid CAGR during the forecast period. North America's supremacy can be linked to the existence of a large number of businesses with high-volume capsule production capabilities, as well as the usage of this dosage form by a number of pharmaceutical giants. The growing emphasis on better medicines and generics has also raised the demand for empty capsules. North America essentially leads this market because of the development of the pharmaceutical and nutraceutical sectors, increased consumer awareness of nutraceutical goods, and the introduction of new health-related trends in the region.
Furthermore, the demand for empty supplements and vitamin capsules has grown due to unfavorable lifestyle changes in the United States and the resultant increase in the requirement for nutraceuticals for optimal nutrient consumption. Similarly, increased awareness of vegetarian empty shells (non-gelatin type) and the availability of technologically improved capsule-filling equipment would drive the market in the region.
Over the projection period, Canada will have strong expansion in the North American market. It is mostly due to the significant expenditures made by the top companies in pharmaceutical and vitamin tablet production and strategic actions such as acquisitions and product launches to improve their position.
Europe led the 2nd largest empty capsule market during the forecast period, and the Germany empty capsules market is devoted to the region's progress. Manufacturers in the region are attempting to keep a constant supply of regularly requested capsule kinds and sizes in their warehouses in order to expedite the shipping of any orders. For instance, in May 2022, Lonza enhanced its Capsugel® portfolio with a titanium dioxide-free (TiO2-free) white firm gelatin capsule, addressing its clients' increasing need to satisfy new titanium dioxide-free criteria for foods in the European Union. This innovative opacifying method uses the functionality of crystalized salts to produce the same whiteness and masking as TiO2-containing capsules.
The Asia Pacific region shows the fastest growth during the forecast period. The expansion of pharmaceutical production plants, the extensive availability of raw materials, and the expanding cooperation between raw material suppliers and pharmaceutical companies are driving the growth of this regional market. For instance, in November 2021, ACG, a manufacturer of empty hard-shell capsules, launched a global marketing campaign for its nutraceuticals division called 'ACG loves NOTHING.’ The campaign was aimed to "significantly improve nutraceutical production through collaboration and industry-leading innovation." The firm will strive for 'zero-problem' pharmaceutical and nutraceutical manufacturing through various value-added services.
Empty Capsules Competitive Landscape
The majority of empty capsules are manufactured by global significant companies. Industry leaders have built their positions by investing more in research and developing a superior distribution system. Key market participants are continually launching new goods manufactured from cutting-edge materials. In addition, they are expanding their global reach through growth tactics such as collaborations, mergers, and acquisitions. For instance, in March 2021, ACG, a leading provider of fully integrated solutions to the worldwide pharmaceutical and nutraceutical industries, announced the launch of its new ACGcapsTM NTone and ACGcapsTM TSafe capsule lines for the Nutraceutical sector. The new Capsules product line highlights ACG's dedication to building a healthy world and its focus on consumer preferences for Clean Label goods and safety. Some of the prominent market players in the global empty capsules market include,
Empty Capsules Strategic Development
Capsules, a type of dose form in medication, are widespread in day-to-day health management. Capsules are composed of gelatin and non-gelatin shells generated from the hydrolysis of the collagen of animal origin or cellulose-based.
The estimated market size of the empty capsule market in 2031 will be 6.92 billion.
The revenue CAGR of the empty capsule market during the forecast period will be 9.1%.
Some prominent market players in the global empty capsules market include ACG Worldwide, Lonza Group Ltd. (Capsugel), and Bright Pharma Caps Inc.
The nutraceuticals end user segment led the global empty capsule market.
*Insights on financial performance are subject to the availability of information in the public domain