Pune, India, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Global Empty Capsules Market Size was valued at USD 3.04 billion in 2022 and is projected to grow from USD 5.05 billion by 2030, exhibiting a CAGR of 6.6% during the forecast period. Leading Companies’ Growing Focus on Introducing Novel Products is Propelling Market Growth, Growing capsule-based nutraceutical demand fuels market growth.
Empty capsules are a type of shell that can contain medicinal substances and inert compounds. Gelatin, Hydroxypropyl Methylcellulose (HPMC), or starch or pullulan, unique film-forming substances, are the main ingredients in these empty shells. Market growth is attributed to the surging usage of capsule formulations by pharmaceutical companies and the increasing adoption of empty capsules in the cosmeceutical and food industries.
This information is provided by Fortune Business Insights™ in its research report titled Empty Capsules Market, 2023-2030.
Key Industry Development-
- March 2023 – One of the top Chinese producers and suppliers, Xi'an Le-Nutra Ingredients Inc., obtained the ISO9001 and Halal Certifications, demonstrating its commitment to high levels of quality and compliance.
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Key Takeaways –
- Empty Capsules Market size in North America was USD 1.03 billion in 2022
- Acquiring competitors and launching new products drive market growth.
- Growing capsule-based nutraceutical demand fuels market growth.
- The gelatin segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- Lonza (Switzerland)
- ACG (India)
- QUALICAPS (U.S.)
- CapsCanada (U.S.)
- NATURAL CAPSULES LIMITED (India)
- Nectar Lifesciences Ltd. (India)
- HealthCaps India Ltd. (India)
- Sunil Healthcare Limited. (India)
- Bright Pharma Caps (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 6.6% |
| 2030 Value Projection | USD 5.05 Billion |
| Base Year | 2022 |
| Empty Capsules Market Size in 2022 | USD 3.04 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 137 |
| Segments covered | Type, Functionality, End User and Geography |
Browse Complete Report Details- https://www.fortunebusinessinsights.com/industry-reports/empty-capsules-market-101171
Drivers & Restraints:
Leading Companies’ Growing Focus on Introducing Novel Products is Propelling Market Growth
The growing prevalence of health conditions that affect joints, hair, skin, and liver functioning in the geriatric population is boosting the demand for nutritional supplements or products. The growing usage of dietary supplements due to increased disease prevalence is paving the way for empty capsule producers to launch novel products. Moreover, the increasing focus on expanding their global reach by key companies is augmenting the market growth.
On the other hand, the high cost of raw materials for empty capsule production is hampering the market expansion.
Segmentation:
By Type
- Gelatin
- Hydroxypropyl Methylcellulose (HPMC)
- Others
By Functionality
- Immediate Release
- Sustained Release
- Delayed Release
By End User
- Pharmaceutical Companies
- Nutraceutical Manufacturers
- Others
Regional Insights:
Growing Prevalence of Different Diseases Fostered Market Growth in North America
North America held the largest empty capsules market share in 2022. Increasing incidences of different diseases are driving the market growth in the region. Surging consumer demand for capsules is also supporting market growth in the region.
Europe accounted for the prominent market share. Market growth is driven by an increase in initiatives by key market players to produce substitute products that are free of titanium dioxide and safe for consumption by the general population.
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Competitive Landscape:
Lonza to Make a Mark in the Global Market by Offering Novel Capsule Solution
Prominent empty capsule producers are offering a wide range of products made from various substances. The increased market revenue of the company is attributed to the growing sales of empty capsules in the U.S. Increasing R&D spending by market participants to introduce new products is also supporting the market expansion. In November 2022, Enprotect, a novel capsule composition from Lonza, was developed to emphasize the delivery of ingested acid-sensitive Active Pharmaceutical Ingredients (APIs). This product introduction pushed the company to increase its product offerings.
FAQs
How big is the Empty Capsules Market?
Empty Capsules Market size was USD 3.04 billion in 2022. It is expected to reach USD 5.05 billion in 2030.
How fast is the Empty Capsules Market growing?
The Empty Capsules Market will exhibit a CAGR of 6.6% during the forecast period, 2023-2030.
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