Northbrook, IL 60062 -- (SBWIRE) -- 03/29/2023 -- The empty capsules industry is expected to experience steady growth in the near future. This is due to the increased demand for empty capsules as a result of the growing popularity of dietary supplements and nutraceuticals. The increasing awareness about health and wellness among consumers is likely to drive the demand for empty capsules. Manufacturers are expected to focus on developing innovative products in order to meet the growing needs of consumers. In addition, the growing penetration of online retail channels is likely to further boost the growth of the empty capsules industry. Governments in various countries are also likely to provide financial support to manufacturers in order to encourage them to develop new products. These factors are likely to contribute to the growth of the empty capsules industry in the near future.

Empty Capsules Market in terms of revenue was estimated to be worth $3.2 billion in 2023 and is poised to reach $4.9 billion by 2028, growing at a CAGR of 9.3% from 2023 to 2028 according to a new report by MarketsandMarkets™. Factors such as rising R&D activities in empty capsules and increasing use of nutraceuticals are driving the growth of this market. However, dietary restrictions and cultural practices are the major factors restraining the growth of this market.

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The gelatin capsules segment accounted for the largest share of the type segment in the empty capsules market in 2022.

Based on type, the empty capsules market is broadly segmented into gelatin capsules, and non-gelatin capsules. In 2022, gelatin capsules accounted for the largest share of the empty capsules market for type. This segment's large share can be attributed to factors such as the availability of gelatin for capsule manufacturing and low cost of gelatin.

The immediate-release capsules segment accounted for the largest share of the functionality segment in the empty capsules market in 2022.

Based on functionality, the empty capsules market is categorized into three segments—immediate-release capsules, sustained-release, and delayed release capsules. In 2022, immediate-release capsules segment accounted for the largest share of empty capsules market. Factors such as the wide utilization of immediate-release capsules in pharmaceutical and cosmetic industry are projecting the segmental growth.

Asia Pacific is likely to grow at double digit growth rate during the forecast period.

The Asia Pacific region is estimated to grow at the highest CAGR in the empty capsules market during the forecast period, this is mainly due to the growth in Asian pharmaceutical markets and their manufacturing capacities. Moreover, fast growing R&D infrastructure along with large number of scientific talents in the countries of this region is likely to boost the market. Also, growing generic drug manufacturing in the region is attracting several foreign investors in the market.

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Empty Capsules Market Dynamics:

Drivers:

Increasing demand for nutraceuticals
Growth in pharmaceutical market and increasing number of clinical trials and R&D activities
Advancements in capsule delivery technologies
Benefits of capsules over other dosage forms

Restraints:

Cultural practices and dietary restrictions

Opportunities:

Expansion of capsule production in emerging countries
Development of halal gelatin and vegetarian capsules

Challenges:

Rising prices and lower availability of raw materials in gelatin industry
Key Market Players:

Some of the prominent players in the empty capsules market are Capsugel (US), ACG Worldwide (India), Qualicaps (US), CapsCanada Corporation (Canada), Suheung Co. Ltd., Natural Capsules (India), (Korea), and among others.

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Recent Developments:

In May 2022, Capsugel launched Titanium dioxide-free (TiO2-free) white hard gelatin capsule, which meets the demand of titanium dioxide-free for foods in the European Union.

In November 2021, ACG launched a global nutraceutical campaign 'ACG loves nothing' to promote problem free nutraceutical production and bring attention to the company's intention to develop high quality capsules for pharmaceutical and nutraceutical industry.

In March 2021, ACG launched ACGcaps NTone and ACGcaps TSafe range of capsules for the nutraceutical market.

Empty Capsules Market Advantages:

Cost savings: Empty capsules are a cost-effective option for consumers looking to save money on supplement products. Empty capsules cost significantly less than pre-filled capsules, allowing consumers to make their own capsules without the need to purchase expensive products.

Variety: Empty capsules provide a wide range of options for those looking to customize their supplement regimen. Consumers can choose from a variety of sizes, types, and colors to create their own unique blend of
supplements.

Flexibility: Empty capsules allow consumers to customize the amounts of different ingredients in their supplement formulations. This flexibility allows for greater experimentation and choice when creating a supplement regimen.

Convenience: Empty capsules are a convenient option for those who are short on time. Consumers can create their own capsules quickly and easily, without the need to wait for a pre-filled capsule to arrive in the mail.

Safety: Empty capsules provide a safe and reliable way to consume supplements. Empty capsules are tested and approved for use, so consumers can be sure that they are consuming quality ingredients.