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)
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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Recent Developments:
Empty Capsules Market – Report Highlights:
Refinement in the segments of the global Empty Capsules market:
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