Empty Capsule Market Valuation Expected to Surpass USD 5.28 Billion by 2033 | StraitsResearch

Empty Capsule Market Overview:

According to Straits Research, the global empty capsule market size was valued at USD 3.81 billion in 2024 and is projected to reach from USD 3.95 billion in 2025 to USD 5.28 billion by 2033, growing at a CAGR of 3.71% during the forecast period (2025-2033).

Capsules are a preferred dosage form across all demographic subsets following their ease of handling and swallowing, palatability, and consumer compliance. Increasing innovations in the pharmaceutical industry are further adding fuel to the market growth. For instance, as of 2018, nearly 7,000 medicines were under clinical development globally, Pharmaceutical Research and Manufacturers of America (PhRMA). As per the U.S. FDA analysis, the number of drugs approved for capsule dosage forms has increased from 53 to 110. Moreover, across phase I to phase III clinical studies, nearly 35,000 participants are using capsules as a preferred dosage form.

Capsules are popular among manufacturers as they allow flexibility in the formulation. Encapsulation, as a better technology, has been preferred to formulate complex molecules as it allows the filling of granules, powder, liquids, and pellets. A hard gelatin capsule is considered a flexible dosage form because it simplifies the testing of drug candidates and reduces the concerns of compressibility.

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Market Dynamics

Ongoing Trend of Veganism to Drive the Demand for Non-Gelatin Capsules

The global empty capsules market has been segmented by type, application and end user. Non-gelatine capsules segment is expected to grow at the fastest CAGR till 2033. The key factor attributed to this is an upward trend towards the consumption of vegan products. For instance, in the U.K, production of vegan products increased to 600,000 in 2017. Additionally, in response to the growing trend of vegan products, nutrition supplement manufacturers have started manufacturing vegan supplements. Moreover, governments of various countries are taking initiatives to replace gelatin with cellulose in the capsule formulations.

Preventive Healthcare to Boost the Demand for Nutrition Supplements and Nutraceuticals

Capsules are a preferred dosage form across all demographic subsets following their ease of handling and swallowing, palatability, and consumer compliance. Increasing innovations in the pharmaceutical industry are further adding fuel to the market growth. For instance, as of 2018, nearly 7,000 medicines were under clinical development globally, Pharmaceutical Research and Manufacturers of America (PhRMA). As per the U.S. FDA analysis, the number of drugs approved for capsule dosage forms has increased from 53 to 110. Moreover, across phase I to phase III clinical studies, nearly 35,000 participants are using capsules as a preferred dosage form.

Capsules are popular among manufacturers as they allow flexibility in the formulation. Encapsulation, as a better technology, has been preferred to formulate complex molecules as it allows the filling of granules, powder, liquids, and pellets. A hard gelatin capsule is considered a flexible dosage form because it simplifies the testing of drug candidates and reduces the concerns of compressibility.

Segmental Analysis

Ongoing Trend of Veganism to Drive the Demand for Non-Gelatin Capsules

By Type
Gelatine
Non gelatine

By Application
Antibiotic and antibacterial drugs
Vitamins and dietary supplements
Antacid and antiflatulent preparations
Antianemic preparations
Anti-inflammatory and anti-rheumatic drugs
Cardiac therapy drugs
Cough and cold preparations
Other therapeutic applications

By End user
Pharmaceutical
Nutraceuticals
Cosmetics

The global empty capsules market has been segmented by type, application and end user. Non-gelatine capsules segment is expected to grow at the fastest CAGR till 2033. The key factor attributed to this is an upward trend towards the consumption of vegan products. For instance, in the U.K., production of vegan products increased to 600,000 in 2017. Additionally, in response to the growing trend of vegan products, nutrition supplement manufacturers have started manufacturing vegan supplements. Moreover, governments of various countries are taking initiatives to replace gelatin with cellulose in the capsule formulations.

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Regional Analysis

Asia Pacific to Emerge as the Fastest-Growing Market over the Forecast Period

The Asia Pacific market is majorly driven by countries such as Japan, China, India, and Australia as a result of a rising geriatric population, increasing chronic disease burden, and proliferating pharmaceutical industries in the region. The Indian pharmaceutical market is expected to grow at a CAGR of over 16% till 2024. Moreover, Indian pharmaceutical manufacturers are increasingly investing in developing new pharmaceutical therapies. For instance, in 2017, an Indian pharmaceutical company received 304 Abbreviated New Drug Application (ANDA) approval from the U.S. FDA.

Europe is the second leading empty capsules market. The increasing geriatric population is responsible for the market growth. For instance, it is estimated that the geriatric population in this region is expected to grow from nearly 17% in 2013 to around 30% by 2050. Moreover, Europe is one of the largest consumers of dietary supplements. According to the National Diet and Nutrition Survey, over 30% of adults aged between 19 and 64 years consume dietary products every day. In addition, under-nutrition and associated complications cost approximately 120 billion Euros to the European health and social care systems. The increasing trend of consuming vegan products in the region is further expected to offer market opportunities for vegetarian capsules.

Competitive Players

ACG (India)
Bright Pharma Caps Inc. (U.S)
CapsCanada (Canada)
Lonza (Switzerland)
Medi-Caps Ltd. (India)
Mitsubishi Chemical Holdings Corporation (Japan)
Roxlor LLC (U.S)

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Recent Developments

November 2023- CapsCanada® Corporation received a significant boost in the form of a USD 5 million investment from FedDev Ontario, which will be used to expand operations and meet rising demand for its made-in-Canada hard empty capsules.

August 2023- Bright Pharma Caps Inc. created Bright-Poly organic capsules, the world's first certified ones. The capsules are made from USDA-certified organic pullulan and NOP-approved and can be used in vegetarian, kosher, and halal products.

February 2023- Vivion, a global ingredient solutions provider, introduced a new line of empty gelatin, HPMC, and pullulan capsules.

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