Executive Summary

The global empty capsules market is expected to grow at a steady pace over the next few years, driven by factors such as increasing demand for dietary supplements, growing preference for capsules over tablets, and rising demand for customized medicines. Gelatin capsules account for the majority of the market share, due to their widespread availability and low cost. However, non-gelatin capsules are gaining popularity, particularly among vegetarian and vegan consumers. The market is characterized by intense competition among key players, with companies focused on developing innovative products to cater to evolving customer needs.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements. 

Key Market Insights

• The global empty capsules market was valued at $1.63 billion in 2020, and is expected to reach $2.34 billion by 2027, growing at a CAGR of 5.1% from 2021 to 2027.
• Gelatin capsules account for the majority of the market share, due to their low cost and widespread availability. However, non-gelatin capsules are gaining popularity, particularly among vegetarian and vegan consumers.
• The pharmaceutical industry is the largest end-user of empty capsules, accounting for more than 60% of the market share. However, the nutraceutical industry is expected to grow at a faster pace, driven by increasing demand for dietary supplements and functional foods.
• Asia-Pacific is the fastest-growing region in the global empty capsules market, driven by factors such as growing population, rising disposable income, and increasing demand for healthcare services.

Market Drivers

• Increasing demand for dietary supplements: The demand for dietary supplements has been increasing steadily in recent years, driven by factors such as rising health awareness, growing aging population, and increasing prevalence of lifestyle diseases. Empty capsules provide a convenient and effective means of delivering these supplements to consumers.
• Growing preference for capsules over tablets: Capsules are becoming increasingly popular among consumers, due to their ease of swallowing, faster absorption, and better bioavailability compared to tablets.
• Rising demand for customized medicines: There is growing demand for customized medicines, particularly among patients with complex medical conditions. Empty capsules can be filled with specific dosages and combinations of drugs, making them an ideal delivery system for personalized medicine.

Market Restraints

• Availability of alternative dosage forms: While empty capsules provide a convenient and effective means of delivering drugs and supplements, there are a range of alternative dosage forms available in the market, such as tablets, powders, and liquids. This can limit the growth of the empty capsules market, particularly in developed markets where alternative dosage forms are readily available.
• Regulatory challenges: The manufacture and sale of empty capsules are subject to stringent regulatory requirements, which can increase the cost of production and limit the entry of new players into the market. This can also limit innovation in the market, as companies may be reluctant to invest in developing new products due to the high regulatory barriers.

• Increasing demand for vegetarian and halal capsules: Non-gelatin capsules, such as those made from plant-based materials, are gaining popularity among vegetarian and vegan consumers, as well as those with religious or cultural restrictions on the consumption of animal products. This represents a significant opportunity for manufacturers to develop and market non-gelatin capsules to meet the evolving needs of these consumers.
• Growing demand for capsules in emerging markets: Emerging markets such as Asia-Pacific, Latin America, and the Middle East offer significant growth opportunities for the empty capsules market. These regions are characterized by growing populations, rising disposable income, and increasing demand for healthcare services, all of which are driving demand for capsules as a delivery system for drugs and supplements.
• Increasing focus on R&D: There is growing focus on research and development in the empty capsules market, as manufacturers seek to develop innovative products that can cater to evolving customer needs. This represents an opportunity for companies to differentiate themselves from competitors and gain a competitive edge in the market.

Market Dynamics

The global empty capsules market is characterized by intense competition among key players, with companies focused on developing innovative products to cater to evolving customer needs. The market is also subject to stringent regulatory requirements, which can increase the cost of production and limit the entry of new players into the market. However, increasing demand for customized medicines, growing preference for capsules over tablets, and rising demand for dietary supplements are expected to drive the growth of the market over the next few years.

Regional Analysis

The global empty capsules market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific is the fastest-growing region in the market, driven by factors such as growing population, rising disposable income, and increasing demand for healthcare services. North America and Europe are the largest markets for empty capsules, due to the presence of a large pharmaceutical and nutraceutical industry in these regions.

Competitive Landscape

Leading companies in the Empty Capsules Market:

1. Capsugel (Lonza Group Ltd.)
2. ACG Worldwide
3. Qualicaps, Inc.
4. Suheung Co., Ltd.
5. CapsCanada Corporation
6. Roxlor LLC
7. Sunil Healthcare Limited
8. Snail Pharma Industry Co., Ltd.
9. Healthcaps India Ltd.
10. Medi-Caps Ltd.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global empty capsules market is segmented based on product type, application, end user, and geography.

• By Product Type: Gelatin Capsules, Non-Gelatin Capsules
• By Application: Antibiotics, Vitamins, Anti-Inflammatory Drugs, Antacids, Others
• By End User: Pharmaceutical Industry, Nutraceutical Industry, Cosmetics Industry, Research and Development Centers, Others
• By Geography: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Category-wise Insights

• Gelatin Capsules: Gelatin capsules account for the majority of the market share, due to their low cost and widespread availability. They are available in a range of sizes and colors, and can be used to encapsulate both solid and liquid formulations.
• Non-Gelatin Capsules: Non-gelatin capsules are gaining popularity, particularly among vegetarian and vegan consumers. They are available in a range of plant-based materials, such as cellulose, starch, and pullulan, and can be used to encapsulate both solid and liquid formulations.

Key Benefits for Industry Participants and Stakeholders

• Opportunity for market expansion in emerging markets
• Growing demand for customized medicines
• Increasing focus on R&D
• Rising demand for dietary supplements
• Availability of a wide range of sizes and colors to meet specific customer needs

SWOT Analysis

• Strengths:

• Versatile delivery system: Empty capsules offer a versatile and effective means of delivering drugs and supplements, and can be customized to meet specific dosage requirements and patient needs.
• Wide range of available materials: Capsules are available in a wide range of materials, including gelatin, plant-based materials, and other polymers, allowing manufacturers to cater to specific customer needs and preferences.
• Established market: The empty capsules market is well-established, with a large number of players operating in the market and significant investment in research and development.
• Weaknesses:
• Regulatory challenges: The manufacture and sale of empty capsules are subject to stringent regulatory requirements, which can increase the cost of production and limit the entry of new players into the market.
• Availability of alternative dosage forms: There are a range of alternative dosage forms available in the market, such as tablets, powders, and liquids, which can limit the growth of the empty capsules market.
• Opportunities:
• Increasing demand for vegetarian and halal capsules: Non-gelatin capsules, such as those made from plant-based materials, are gaining popularity among vegetarian and vegan consumers, as well as those with religious or cultural restrictions on the consumption of animal products.
• Growing demand for capsules in emerging markets: Emerging markets such as Asia-Pacific, Latin America, and the Middle East offer significant growth opportunities for the empty capsules market.
• Increasing focus on R&D: There is growing focus on research and development in the empty capsules market, as manufacturers seek to develop innovative products that can cater to evolving customer needs.
• Threats:
• Competition from alternative dosage forms: Alternative dosage forms, such as tablets, powders, and liquids, represent a threat to the growth of the empty capsules market.
• Regulatory challenges: The regulatory environment surrounding the manufacture and sale of empty capsules is subject to change, which can create uncertainty and limit the growth of the market.
• Increasing competition from new entrants: The empty capsules market is characterized by intense competition among key players, and increasing competition from new entrants could pose a threat to established players in the market.

Market Key Trends

• Growing demand for non-gelatin capsules: Non-gelatin capsules, particularly those made from plant-based materials, are gaining popularity among vegetarian and vegan consumers, as well as those with religious or cultural restrictions on the consumption of animal products.
• Increasing focus on sustainability: There is growing focus on sustainability in the pharmaceutical and nutraceutical industries, and manufacturers are developing capsules made from renewable materials and utilizing eco-friendly production methods.
• Growing demand for customized medicine: There is increasing demand for customized medicines, particularly among patients with complex medical conditions. Empty capsules provide a convenient and effective means of delivering these medicines to patients.

Covid-19 Impact

The Covid-19 pandemic has had a mixed impact on the empty capsules market. On the one hand, there has been an increase in demand for supplements and vitamins, as consumers seek to boost their immune systems and protect their health. This has driven demand for empty capsules as a delivery system for these products. On the other hand, the pandemic has disrupted global supply chains and led to a decline in manufacturing activity, which has had a negative impact on the market.

Key Industry Developments

• In September 2020, Lonza Group Ltd. announced the launch of its new HPMC (hydroxypropyl methylcellulose) capsules, which are designed to meet the needs of the rapidly growing vegetarian and vegan markets.
• In February 2021, Capsugel announced the expansion of its Capsugel® Colorista® product line, which provides a wide range of color options for gelatin capsules.

Analyst Suggestions

• Focus on developing innovative products: Manufacturers should focus on developing innovative products that can differentiate themselves from competitors and cater to evolving customer needs.
• Expand geographic presence: Manufacturers should focus on expanding their geographic presence to capitalize on growth opportunities in emerging markets such as Asia-Pacific, Latin America, and the Middle East.

• Collaborate with other players in the market: Collaboration and partnerships can help manufacturers gain a competitive edge in the market and drive innovation in the industry.
• Embrace sustainability: Manufacturers should focus on developing capsules made from renewable materials and utilizing eco-friendly production methods, in line with growing consumer demand for sustainable products.

Future Outlook

The global empty capsules market is expected to grow at a steady pace over the next few years, driven by factors such as increasing demand for dietary supplements, growing preference for capsules over tablets, and rising demand for customized medicines. Non-gelatin capsules are expected to gain popularity, particularly among vegetarian and vegan consumers, and emerging markets such as Asia-Pacific, Latin America, and the Middle East are expected to offer significant growth opportunities for the market.

Conclusion

The global empty capsules market is a well-established and growing industry, driven by increasing demand for dietary supplements, growing preference for capsules over tablets, and rising demand for customized medicines. The market is characterized by intense competition among key players, with manufacturers focused on developing innovative products and expanding their geographic presence to capitalize on growth opportunities in emerging markets. The growing focus on sustainability and the increasing demand for non-gelatin capsules are expected to shape the future of the industry, and collaboration and partnerships among players in the market are likely to drive innovation in the industry. Overall, the future of the global empty capsules market looks promising, with significant growth potential in the years to come.