The empty capsules market is primarily driven by the growing demand for capsules in the pharmaceutical and nutraceuticals industry. Empty capsules are two-piece capsules consisting of a body and a cap, and are available in different sizes suitable for varied pharmaceutical formulations such as powders, pellets, granules and liquids. Capsules have certain advantages over other dosage forms like tablets as they protect the active ingredients from moisture and air and allow for taste masking of bitter drugs. The empty capsules are inert and are formulated to have physical and chemical stability over long periods of storage.
The global empty capsules market is estimated to be valued at US$2.3 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the empty capsules market are ACG Worldwide, Capsugel, Qualicaps Inc., Bright Pharma Caps Inc., Sunil Healthcare Ltd., CapsCanada Corporation, Roxlor LLC, Snail Pharma Industry Co. Ltd., Suheung Co. Ltd., and Medi-Caps Ltd. The key players dominate around 65-70% of the global market.
Growing demand for capsules in pharmaceuticals and nutraceuticals industries is a major factor driving the empty capsules market. Capsules offer various advantages over conventional tablet formulations such as ease of swallowing, accurate dosing and taste masking abilities. The nutraceuticals industry has seen significant growth in the past decade due to increasing health awareness among consumers.
Technological advancements have allowed capsule manufacturers to offer innovative solutions. Printed capsules allow for personalized medication and aid brand recognition for pharmaceutical companies. Vegetarian capsule formulations are also gaining traction due to rising demand from vegan and vegetarian consumers. Enteric capsules help protect active ingredients from degradation in the stomach environment.
Market Trends
Plant-based Hypromellose (HPMC) capsules are emerging as a sustainable option. Globally, there is increasing preference for plant-based products and HPMC capsules address this trend. HPMC is derived from cellulose and does not involve the use of animal by-products.
3D printing technology offers opportunities for customized capsule design and fill volumes. It allows formulation of various capsule shapes and sizes specific to an application. This enhances flexibility and production efficiency for pharmaceutical companies.
Market Opportunities
Rising preference for nutraceuticals and functional foods present an opportunity to increase the use of empty capsules in these industries. Capsule delivery is considered suitable for supplements, herbal extracts and oils.
The vegetable/plant-based capsule market is poised to grow significantly owing to demand from vegan and vegetarian consumers globally. More manufacturers are anticipated to launch innovative plant-derived capsule shells.
Impact of COVID-19 on Empty Capsules Market
The COVID-19 pandemic severely impacted the empty capsules market in 2020. The implementation of lockdowns across various countries led to supply chain disruptions and shortage of raw materials. This affected the production and supply of empty capsules. The demand also declined significantly from pharmaceutical companies as well as nutraceutical manufacturers as their production was halted during the lockdowns. However, with the priority given to healthcare by governments worldwide, the production and supply of empty capsules resumed gradually. The demand for empty capsules also increased post lockdowns as the pharmaceutical industry ramped up production to meet the demand for COVID-19 as well as other essential medications. Looking ahead, the empty capsules market is expected to grow steadily to support the production of various drugs and supplements. Manufacturers will need to focus on strengthening supply chains and boosting production capacities to deal with any uncertainties in future.
North America currently accounts for the largest share of the global empty capsules market in terms of value. This is due to the strong pharmaceutical industry in the US and Canada and high healthcare spending in the region. Within North America, the US dominates the market driven by the presence of major capsule manufacturers as well as extensive R&D activities. In terms of growth, Asia Pacific region is projected to experience the highest CAGR during the forecast period. This fast growth is attributed to increasing generic and nutraceutical production in countries such as India and China coupled with improving healthcare infrastructure. Expanding pharmaceutical industry and rising health awareness are further encouraging the adoption of capsules in Asia Pacific.
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191
