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 latest report published by MarketsandMarkets™. Growing demand of nutraceuticals an increasing number of clinical trials and growth in the pharmaceutical market are some of the major factors propelling the growth of this market. However, the cultural practices & dietary restrictions is likely to restrict the growth of empty capsules market.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=218018190
Based on type, the empty capsules market is segmented into gelatin capsules and non-gelatin capsules. In 2022, gelatin capsules segment accounted for the largest share. The dominance of the segment is attributable to its advantages such as rapid drug release, better consumer experience, drug safety and uniform mixing of drugs.
Based on functionality, the empty capsules market is segmented into immediate-release capsules, sustained-release capsules, and delayed-release capsules. In 2022, immediate-release capsules segment accounted for the largest share of empty capsules market. Increasing applications of immediate-release capsules are driving the segmental growth.
The global empty capsules market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2022, North America dominated the empty capsules market followed by Europe and Asia Pacific respectively. Asia Pacific region is likely to grow at a faster pace during the forecast period of 2023-2028. The overall share of this region in the global market is gradually increasing, owing to growth in pharmaceutical markets and their manufacturing capacities. High-growth regions such as China, and India are expected to be major contributors to the Asia-Pacific empty capsules market.
Key Market Players:
Key market players operating in empty capsules market players are Capsugel (US), ACG Worldwide (India), Qualicaps (US), CapsCanada Corporation (Canada), Suheung Co. Ltd. (Korea), and Natural Capsules (India).
Enquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=218018190
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.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=218018190