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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Key Market Players
The prominent players operating in the empty capsules market are Capsugel (US), ACG Worldwide (India), Qualicaps (US), CapsCanada Corporation (Canada), Suheung Co. Ltd. (Korea), and Natural Capsules (India).
Capsugel (US) is one of the leading players in the empty capsules market in 2022. The company’s leading position is attributable to its diversified product portfolio, strong geographic presence, and adoption of organic and inorganic growth strategies. The company has focused on new product launches, to maintain its leading position in the empty capsules market. For example, in November 2022, the company launched Enprotect, an intestinal (enteric) drug delivery capsule, which targets small molecules, proteins, peptides and RNA-based therapeutics.
ACG Worldwide (India)
ACG Worldwide is one of the leading players in the empty capsules market. It offers specialty empty hard capsules. The company has a wide geographical footprint and is further expanding its network across the globe. The company has focused on launches of new products in various sizes & customization options to increase the share in empty capsules market. For instance, in March 2021, ACG launched the ACGcaps TSafe and ACGcaps NTone capsules, used in the nutraceutical market.
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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 – Report Highlights:
Refinement in the segments of the global Empty Capsules market:
Market sizes are updated for the base year 2022 and forecasted from 2023 to 2028.
The new edition of the report provides updated financial information till 2021 for each listed company. Data from the annual reports for 2022 was included as available. This will help in the easy analysis of the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, and business segment focus in terms of the highest revenue-generating segment.
Recent developments are helpful to understand market trends and growth strategies adopted by players in the market.
Tracking product portfolios of prominent market players helps to analyze the major products in the empty capsules market. The new edition of the report provides an updated product portfolio of the companies profiled in the report.
Pricing analysis, trade analysis, key stakeholders & buying criteria, and trends/ disruptions impacting customer business are added in the market overview chapter.
Impact of recession has also been added in the new addition of the report.
Market evaluation framework, market share analysis and competitive leadership mapping have been added in competitive landscape chapter of the report.
The company evaluation matrix has been updated considering the recent developments of the companies.
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