The report "Empty Capsules Market by Type (Gelatin, Non-gelatin), Functionality (Immediate-release, Sustained-release, Delayed Release), Therapeutic Application, End User (Pharmaceutical, Nutraceutical, Cosmetic, Reference Laboratories) - Global Forecast to 2028",size is projected to reach USD 4.9 billion by 2028 from 3.2 billion in 2023, at a CAGR of 9.3% during the forecast period. 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.
Browse 247 market data Tables and 38 Figures spread through 248 Pages and in-depth TOC on "Empty Capsules Market by Type (Gelatin, Non-gelatin), Functionality (Immediate-release, Sustained-release, Delayed Release), Therapeutic Application, End User (Pharmaceutical, Nutraceutical, Cosmetic, Reference Laboratories) - Global Forecast to 2028"
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The gelatin capsules segment accounted for the largest share of the type segment in the empty capsules market in 2022.
Based on type, the empty capsules market is broadly segmented into gelatin capsules, and non-gelatin capsules. In 2022, gelatin capsules accounted for the largest share of the empty capsules market for type. This segment's large share can be attributed to factors such as the availability of gelatin for capsule manufacturing and low cost of gelatin.
The immediate-release capsules segment accounted for the largest share of the functionality segment in the empty capsules market in 2022.
Based on functionality, the empty capsules market is categorized into three segments—immediate-release capsules, sustained-release, and delayed release capsules. In 2022, immediate-release capsules segment accounted for the largest share of empty capsules market. Factors such as the wide utilization of immediate-release capsules in pharmaceutical and cosmetic industry are projecting the segmental growth.
Asia Pacific is likely to grow at double digit growth rate during the forecast period.
The Asia Pacific region is estimated to grow at the highest CAGR in the empty capsules market during the forecast period, this is mainly due to the growth in Asian pharmaceutical markets and their manufacturing capacities. Moreover, fast growing R&D infrastructure alongwith large number of scientific talent in the countries of this region is likely to boost the market. Also, growing generic drug manufacturing in the region is attracting several foreign investors in the market.
Some of the prominent players in the empty capsules market are Capsugel (US), ACG Worldwide (India), Qualicaps (US), CapsCanada Corporation (Canada), Suheung Co. Ltd., Natural Capsules (India), (Korea), and among others.
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