Empty Capsules Market Share, Size, Trends, Industry Analysis Report, By End-Use (Pharmaceuticals, Nutraceuticals, Cosmetic, Research Laboratories); By Type; By Functionality; By Application; By Region; Segment Forecast, 2022 - 2030
- Published Date:May-2022
- Pages: 112
- Format: PDF
- Report ID: PM2403
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global empty capsules market was valued at USD 2.69 billion in 2021 and is expected to grow at a CAGR of 6.8% during the forecast period. The growing public awareness of personal care, coupled with the development of the pharmaceutical industries, has witnessed a lucrative growth of the industry across the globe.
Know more about this report: Request for sample pages
The empty capsules are used as the covering for the pharmaceutical drugs, chemicals, and powders. In addition, the rising prevalence of infectious and viral diseases and increasing application of empty capsules in industries such as pharmaceutical, nutraceutical, cosmetic, and research laboratories are also projected to bolster the empty capsules demand. Moreover, the rising number of research & development activities towards the improvement of pharmaceutical industries and increasing government and public spending on healthcare will also propel the empty capsules market growth in forthcoming years.
The outbreak of the COVID-19 has proved to be a supportive factor toward the growth of the industry. During this period, various pharmaceutical companies have highly invested in the production and supply of vaccines, medication, nutraceuticals, etc., which fuels the growth of the empty capsules industry. Additionally, there were many patients that have risen rapidly all over the world, creating a huge requirement for the empty capsules industry. Consequentially, the covid -19 has exhibited a positive influence on the market growth and is likely to lead the market growth in the approaching years.
Industry Dynamics
Growth Drivers
The rising penetration of pharmaceutical companies across the world fuels the industry growth in the projected years. Also, the rising investments by the government in the healthcare sector provide lucrative growth for the empty pills market across the globe. Additionally, growing public awareness, rising disposable income, and development of the pharmaceutical and healthcare sector are attributed to industry growth.
For instance, in the Global Wellness Economy in 2018, the demand for the healthcare & wellness industry is increasing rapidly. The worldwide wellness and healthcare economy is valued at USD 4.5 trillion in 2018, which represents about 5.3% of total economic output. Also, the expenditure on personal health care, beauty, and antiaging was approximately USD 1,083 billion in 2018.
Thereby, wellness and healthcare are rapidly generating more revenue, which is bringing an upsurge in the empty pills demand. Moreover, the rising development and innovations in pharmaceutical, nutraceutical, cosmetic and research laboratories and rising expenditure on healthcare are also boosting the empty pills industry demand. According to the Organization for Economic Co-operation and Development in 2020, Public health is the major challenge globally.
Know more about this report: Request for sample pages
Report Segmentation
The market is primarily segmented on the basis of type, functionality, application, end-use, and region.
|
By Type |
By Functionality |
By Application |
By End-Use |
By Region |
|
|
|
|
|
Know more about this report: Request for sample pages
Insight by End-Use
The pharmaceutical industry segment is estimated to hold the largest revenue share. The growing geriatric population is more prone to get affected by a high number of diseases, which creates a huge demand for empty capsules in the coming years. For instance, according to the World Health Organization (WHO), the population aged 60 years and above will increase from 605 million in 2000 to 2 billion in 2050. Therefore, the rising geriatric population, as well as increasing incidences of diseases, are offering various growth prospects to the market.
The cosmetic industry segment is anticipated to exhibit the highest CAGR in the forecasting years. The population with changing lifestyles and rising disposable income leads the population towards the adoption of skincare products that fuel the segment growth. The rising spending on beauty products and cosmetics is another major factor propelling the segment expansion.
For instance, according to DealsOnHealth, in 2021, globally, 35% of women above 60 or older use beauty products every day. The global beauty market is valued at USD 511 billion in 2021, and the global makeup market is projected to reach around USD 85 billion by 2024. It is estimated that women spend near about USD 313 monthly on beauty products and also states that consumers are 40% more willing to spend on new beauty products. Thus, the rising spending and awareness toward skincare bolster segment growth in the near future.
Geographic Overview
North America accounted for the largest revenue share in the global empty capsules market. The rapid technological advancements in healthcare and pharmaceutical companies and increasing government investments in public health care are the major factors that are surging the empty pills demand. For instance, according to Health Affairs, in 2021, U.S government spending has increased to 9.7 percent and reach USD 4.1 trillion in 2020, an increase of around 4.3 percent rise from 2019.
Moreover, the government of the U.S. majorly focuses on the improvement of healthcare infrastructure, minimizing the spread of diseases, and spreading awareness of public health. Additionally, the presence of leading companies in the region is anticipated to drive the growth of the empty capsules market.
Moreover, the Asia Pacific market is anticipated to exhibit the highest CAGR over the forecasting years owing to the increasing disposable income and rising awareness people are more inclined towards the adoption of additive supplements in diets. And due to t the changing climatic conditions and rising working population, people are more conscious of skincare which enhances the empty capsules industry growth across the region.
According to the Indian Brand Equity Fund in 2021, The Indian beauty & personal care market is estimated to rise by around USD 15.1 billion by 2024, from USD 9.98 billion in 2019. Therefore, the growth of the cosmetic and pharmaceutical industry majorly across South Korea, India, Japan, and China is acting as a catalyzing factor for the regional empty capsules market growth over the forecasting years.
Competitive Insight
Some of the major players operating in the global market include ACG, Bright Pharma Caps, Capscanada, Capsugel, Comed Chemicals, Erawat Pharma Limited, Health Caps India, Mitsubishi Chemical Holdings, Natural Capsules, Nectar Lifesciences, Qingdao Yiqing Medicinal Capsules, Roxlor, Shanxi Guangsheng Medicinal Capsule, SuHeung, and Sunil Healthcare
Empty Capsules Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2021 |
USD 2.69 Billion |
|
Revenue forecast in 2030 |
USD 4.79 Billion |
|
CAGR |
6.8% from 2022 - 2030 |
|
Base year |
2021 |
|
Historical data |
2018 - 2020 |
|
Forecast period |
2022 - 2030 |
|
Quantitative units |
Revenue in USD Billion and CAGR from 2022 to 2030 |
|
Segments covered |
By Type, By Functionality, By Application, By End-Use, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key companies |
ACG, Bright Pharma Caps, Capscanada, Capsugel, Comed Chemicals, Erawat Pharma Limited, Health Caps India, Mitsubishi Chemical Holdings, Natural Capsules, Nectar Lifesciences, Qingdao Yiqing Medicinal Capsules, Roxlor, Shanxi Guangsheng Medicinal Capsule, SuHeung, and Sunil Healthcare |
© 2024 Polaris Market Research and Consulting. All rights reserved
