According to the new market research report "Empty Capsules Market by Type (Gelatin (Porcine, Bovine), Non gelatin (HPMC, Pullulan)), Functionality (Delayed release), Application (Antibiotics, Dietary Supplements, Anti- Inflammatory), End User (Pharma, Nutraceuticals) - Global Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 3.7 billion by 2026 from USD 2.6 billion in 2021, at a CAGR of 7.2% during the forecast period.
Browse and in-depth TOC on "Empty Capsules Market"
176 - Tables
40 - Figures
216 - Pages
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Key Market Players
The prominent players operating in this market are Capsugel (US), ACG Worldwide (India), Qualicaps (US), Suheung Co. Ltd. (Korea), CapsCanada Corporation (Canada) and others
Capsugel was the leading player in the empty capsules market in 2020. The company is largely known for its diversified product offerings for the pharmaceutical and nutraceutical industry. Capsugel offers a comprehensive portfolio of empty capsules, ranging from gelatin, vegetarian, filled hard, functional, inhalation, HPMC, gelatin, alternate polymer, specialized clinical, and enteric capsules. In addition, the company also offers acid-resistant capsules, gelcaps, dry powder inhaler capsules, capsule-in-capsule technology products, and solid lipid pellet technology products. Its position as the leading manufacturer of capsules is attributed to its global footprint through distributors and agents.
ACG was the second-largest market player in the empty capsules market in 2020. This is mainly attributed to its exhaustive portfolio of gelatin and HPMC capsules, along with the company’s capsule customization services. ACG ACPL majorly serves the global dietary supplement and pharmaceutical industry, commanding more than 80% of Asia’s pharmaceutical prescription market. The company annually produces over 83 billion capsules, serving hundreds of consumers in more than 100 countries globally. The company has its presence in the US, the UK, China, and Brazil and is engaged in serving multiple pharmaceutical needs through its branches and subsidiaries.
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Nutraceutical industry is the fastest-growing end user segment of the market
Based on end users, the Empty Capsules Market is segmented into the pharmaceutical industry, nutraceutical industry, cosmetic industry, and research laboratories. The pharmaceutical industry segment accounted for the largest share of 52.7% of the market in 2020. The nutraceutical industry segment is expected to register the highest CAGR of 7.8% during the forecast period. The rising demand for nutraceutical products to prevent the occurrence of lifestyle-associated diseases (such as obesity, arthritis, high blood pressure, cholesterol, and diabetes) is supporting the growth of this segment
North America accounted for the largest share of the Empty Capsules Market
Geographically, the market is dominated by developed countries across North America and Europe, which account for ~65.6% of the global market. North America accounted for the largest share of 37.4% of the global market. The dominance of the North American region can be attributed to the existing presence of major capsule manufacturers with large production capacities, along with the presence of a number of pharmaceutical giants with large production capacities utilizing these capsules. The growing emphasis on superior pharmaceutical products and generics has also led to increased demand for empty capsules. The emerging markets across the Asia Pacific and Latin America are expected to grow at robust CAGRs during the forecast period. With significant growth in pharmaceutical manufacturing in the past few years, China and India have emerged as high-growth markets for empty capsules.
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Recent Developments
- In 2021, Nutra’V TiO2 launched a new range of TiO2-free capsules. Available both in gelatin and HPMC and with excellent machinability, this range of capsules offers the best encapsulation solution for ingredient masking.
- ACG acquired Xertecs, Xertecs develops and implements processes, products, and services for pharma companies across the globe. Its acquisition added to ACG’s capabilities.
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