Empty capsules market are the growing adoption of capsule formulations among the growing geriatric population, the growth of the pharmaceutical market with the increasing R&D activities & clinical trial studies, and the advancements in capsule delivery technologies. The objective of the report is to define, describe, and forecast the empty capsules market size based on type, functionality, application, end user, and region.
According MarketsandMarkets, a new market research report – [206 Pages Report] MarketsandMarkets forecasts the Empty Capsules market to grow from USD 1.95 billion in 2018 to USD 2.79 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period.
Among the type of capsules segment, the non-gelatin capsules segment is expected to grow at the highest CAGR during the forecast period. The increasing demand for non-animal-based products and the advantages offered by these capsules over gelatin-based ones, such as low hygroscopicity, physical stability, stability in different ranges of temperature & humidity, and low moisture content are driving the segment growth.
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Challenge: Rising prices and lower availability of raw materials in the gelatin industry :
Globally, the demand for gelatin and its raw materials has witnessed a significant increase over the entire application spectrum—the pharmaceutical industry, in which the demand for capsules for pharmaceutical production has registered a vast increase, and the food processing, nutraceuticals, leather, cosmetics, dying & tanning, and paper production industries. All of these also utilize gelatin and raw materials used for its production on a large scale.
Opportunity: Development of halal capsules
Gelatin is a key ingredient in processed foods and hard and soft capsules for prescription drugs and vitamin supplements. Globally, over 45% of gelatin is derived from pork. This is a major concern to Muslim consumers due to the porcine nature of gelatin. Only 3% of the global gelatin production is from halal or permissible ingredients, implying a clear demand for greater production of halal gelatin.
Key Market Players :
- Capsugel (US)
- ACG Worldwide (India)
- Qualicaps (Japan)
- Suheung Co. Ltd. (Korea)
- CapsCanada Corporation (Canada)
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Capsugel is one of crucial players in the Empty Capsules Industry, serving over 4,000 customers across 100 countries, through 13 manufacturing sites and three R&D centers. The company is largely known for its diversified product offerings for the pharmaceutical and nutraceutical industry, offering gelatin, vegetarian, filled hard, functional, inhalation, HPMC, gelatin, alternate polymer, specialized clinical, and enteric capsules. The global recognition has enabled the company to drive innovations and sustain its market position continually.