The Global Empty Capsules Market is estimated to be valued at US$ 3.21 Bn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
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., Medi-Caps Ltd., Qingdao Yiqing Medicinal Capsules Co., Ltd., Shanxi Guangsheng Medicinal Capsules Co., Ltd., Nectar Lifesciences Ltd., Kerry Inc., JC Biological Technology Co. Ltd. Key players in the empty capsules market are focusing on expanding their production capacities and capabilities to cater to the growing demand.
The growing Empty Capsules Market Demand for vegetarian capsules from health-conscious consumers is driving increased adoption of plant-based and other sustainable materials for capsule production. Plant-based capsules offer a sustainable alternative to gelatin capsules and comply with vegan and kosher dietary preferences.
Key Trends:
One of the key trends witnessed in the empty capsules market is the shift towards sustainable and plant-based capsules. Growing health and environmental consciousness is fueling demand for eco-friendly packaging solutions. Manufacturers are developing innovative vegetarian capsule shells from materials like hydroxypropyl methylcellulose (HPMC) to replace gelatin and meet the needs of vegan populations. Sustainable production practices and certifications like carbon neutrality are also gaining prominence to boost customer confidence in green empty capsules. This shift presents lucrative opportunities for manufacturers to strengthen their positions through sustainable product differentiation strategies.
Porter’s Analysis
Threat of new entrants: The empty capsules market requires high initial capital investments for production facilities and manufacturing equipment which limits new entrants. Bargaining power of buyers: Large pharmaceutical buyers have higher bargaining power due to the market being dominated by few large capsule manufacturers. Bargaining power of suppliers: Suppliers of raw materials such as gelatin, starch, and pullulan have lower bargaining power due to availability of substitutes. Threat of new substitutes: There is minimal threat of substitutes emerging for empty capsules as they have long been the preferred form of dosage for various medicines and supplements. Competitive rivalry: The empty capsules market is moderately competitive with top players holding majority market share globally.
Geographical Regions
North America currently accounts for the largest share of the global empty capsules market in terms of value. This is attributed to the rising demand for minimally invasive drug delivery and increasing consumption of OTC medications. Asia Pacific region is poised to be the fastest growing market during the forecast period. This growth can be attributed to rising healthcare expenditure, increasing generic drug production, and expansion activities of major capsule manufacturers in countries such as India, China, and South Korea.
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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)
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