The empty capsules market is estimated to witness a CAGR of 6.50% to reach US$2,255.347 million in 2024 from US$1,545.527 million in 2018. Increasing adoption of unhealthy lifestyles by consumers around the globe has led to a growing demand for nutraceuticals, which is expected to be a key factor responsible for driving global empty capsules market over the forecast period. The technological advancements in capsule industry coupled with rising investments in R&D activities are further expected to propel the market growth.
The increasing geriatric population along with rising health consciousness among the millennials is anticipated to fuel the market for empty capsules. Additionally, rising sports industry coupled with increasing consumption sports nutrition products is anticipated to widen up the growth opportunities for the empty capsules market during the forecast period. However ethical concerns in the developing countries like India and stringent regulation in the pharmaceutical industry are expected to restrain the market growth.
The empty capsules market has been segmented on the basis of product, end user, and geography. In the type segment, gelatin capsules are expected to hold a major market share on account of quick drug release and anti-oxidation property. By end user, the pharmaceutical sector is projected to grow at a significant rate owing to the growing prevalence of diseases and increased investment for R&D activities by public and private players. Geographically, Asia-Pacific is projected to be a dominant region during the forecast period owing to the rising disposable income leading to rising health expenditure coupled with the low cost of material and labor is further expected to attract major manufacturers in the region.
• Growing pharmaceutical industry.
• Increasing geriatric population.
• Stringent government regulations.
The major players profiled in the empty capsules market include Suheung Co Ltd., ACG Worldwide, Capsugel, Bright Pharma caps Inc., Medi-Caps Ltd., Snail Pharma Industry Co., Ltd., Capscanada Corporation, Qualicaps, and Roxlor LLC among others.
The empty capsules market has been analyzed through the following segments:
• By Product
o Gelatin Capsules
o Non-Gelatin Capsules
• By End User
o Nutraceuticals Industry
o Pharmaceutical Industry
o Cosmetics Industry
o Research Laboratories
• By Geography
o North America
o South America
? United Kingdom
o Middle East and Africa
? Saudi Arabia
o Asia Pacific
? South Korea
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