Vegetable Capsules market Size, Share, Growth, and Industry Analysis, By Type (HPMC,Plant Polysaccharides, Starch), By Application (Pharmaceuticals, Health Supplements, Others) and Regional Insights and Forecast to 2032

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VEGETABLE CAPSULES MARKET REPORT OVERVIEW

Global Vegetable Capsules Market size was USD 1.6 billion in 2023 and market is projected to touch USD 3.8 billion by 2032 at a CAGR of 10% during the forecast period.

The vegetable capsules are made up of plant-sourced compounds, It is a tasteless, transparent & vegan compound, unlike the other traditionally available animal based capsules like gelatin. These vegetable capsules are non-animal based & non-GMO provides a good oxygen barrier property just like the conventional animal based capsules. These vegetable capsules caters to both the vegetarian & the vegan community, which was earlier a challenge with animal derived capsules & are being high on demand for people who want to take their dietary supplements in form of capsules.

Vegetable capsules are vital in order to get one’s daily dose of essential oils & have fixed the concerns associated with moisture sensitivity & hygroscopicity of the conventional animal derived capsules such as gelatin, making them easier to store as well with improved sustainability of the product. All current United States Pharmacopeia (USP) and food chemical codex (FCC) criteria can be fulfilled using HPMC capsules. The vegetable Capsules can be used for both fast-release & delayed (target) drugs. The adaption of vegetable capsules based supplement is attributed to the change in lifestyles, cruelty free & vegan dietary choices of many individuals & the global market is anticipated to witness a significant demand due to sizable share of demand for plant based capsules.

COVID-19 IMPACT

Market Growth has witness an uptrend in vegetable capsules consumption

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The dietary & other food supplements habits have changed a lot post COVID-19, pertaining to becoming more cautious & adopting a healthy lifestyle, many people are even inclined towards practicing vegetarian or vegan diets, & the vegetable capsules complement their choice of dietary habits. The key attributes of vegetable capsules are that, they are easily digestible & nontoxic. Post COVID-19, the awareness among the people regarding consumption of food, medicines have augmented, along with added demand for the healthy alternatives in supplements, & the vegetable capsules are perceived as healthier & favorable go to option for such category of consumers. The global pharmaceutical sector is heavily engaged in R&D activities to improve product quality & development of new products that are derived from plant based vegetable capsules, keeping up with the various medical standards.

LATEST TRENDS

"Increasing research & development in the pharmaceutical industry to provide growth opportunities"

The growth opportunity in vegetable capsules is witnessing an uptrend due to rise in demand for natural & plant based products, the rising concern for health & rise of dietary supplement market along with favorable government policies that help the ventures grow their business across the globe. The vegetable capsules are providing an eco-friendly & sustainable solution for a large volume of consumers.Their medicinal benefits are similar to those conventionally available capsules, along with meeting the dietary & cultural needs of the vegetarian community.Based on the recent market insights pharmaceutical industry will be the leading revenue generator with vegetable capsules based products.Considering these approvals and growth potential in the industry, various firms are making investments to enter the vegetable HPMC capsule industry, due to acceptance & approval from the governing bodies there is a huge market development for both pharmaceutical & nutraceutical industry for investments & more product ranges.For instance, in February 2023, Vivion, Inc. launched HPMC capsules in its product portfolio. These capsules will be available in different sizes and can be consumed by children, adults, and small animals.

VEGETABLE CAPSULES MARKET SEGMENTATION

BY TYPE

• HPMC- Made from hydroxypropyl methylcellulose (HPMC) or hypromellose, the HPMC vegetarian capsule is the most popular type in the category. HPMC is derived from cellulose extracted from pine and spruce trees.They are FDA approved & dominates the vegetable capsule market in pharmaceutical usage.

• Starch- This capsule is derived naturally from fermentation of liquid cornstarch by fungi, they are stable & impenetrable making it more stable & extra-protective for air-sensitive fills.They are well suited for dry ingredients like powder, granules due to their high moisture content they are less preferred in absorbent powders or liquid ingredients.

• Plant Polysaccharides- These capsules are commonly made from plant-derived polymers, primarily cellulose,to create a suitable shell for encapsulating medications, dietary supplements, giving it similar usability of traditional gelatine capsules.

BY APPLICATION

Based on the application the Vegetable Capsules market can be categorized into pharmaceuticals, health supplements, others.

• Pharmaceutical Application-The current vegetable market is predominantly driven by vide pharmaceutical application because of low moisture content naturally in vegetables so it becomes feasible to encapsulate pharmaceutical ingredients that are hygroscopic & moisture-sensitive, giving it sustainable & longer shelf life, currently these vegetable capsules can be used to encapsulated medicines in the form of powder, gell, semi-fluids,pellets as well as liquids.

• Health Supplements- The nutraceutical & health supplements usage majorly focuses on the prevention rather than cure of any medical condition, it has many application in therapy, and they are also known as functional food, the vegetable capsules based product market prospects for nutraceutical applications is booming, due to adoption of functional foods in other than the core meal form, the key role is adding the compatible nutrients with the main ingredients, & correct the vitamins & other micronutrients deficiency in the body through intake of nutraceutical supplements.

DRIVING FACTORS

"Rising Demand For Plant-Based Capsules To Drive Market Growth"

Earlier there was a wide gap in the capsules market to cater the preference of vegetarian & vegan consumers, but with rising demand & health concerns it has narrowed down with proliferating its usage across health industry, the vegetable capsules have similar results compared to those conventionally available capsules, & as the vegan culture is expanding so does the prospects of vegetable capsules especially in vitamins & micronutrients market, the vegetable capsules are easy to take as they mask up the unpleasant flavors & odors of the inside active ingredients. Various manufacturing firm are also pivoting their product portfolio with introduction of vegetable based capsules as an alternative to animal based capsules.

"Diversification Of Application To Boost The Market Size"

Various manufacturing firms are also pivoting their product portfolio with the introduction of vegetable based capsules as an alternative to animal based capsules, providing a wide range of formulation for versatility in application, including pharmaceutical drugs, dietary supplements, herbal extracts, & probiotics, without compromising the taste & nutritional benefits of traditional available capsules, & the market is appealing to such health conscious consumers who are habituated to take such encapsulation, seeking cleaner & multi benefiting capsules.

RESTRAINING FACTOR

"High Cost Of Manufacturing & Availability Of Close Substitutes May Hinder The Market Growth"

The manufacturing cost of vegetable capsules are higher than those for available alternatives like gelatine, The cost required for the vegetable capsule raw material is around 4 times that of gelatin and the production cost is around 3 times the cost of gelatin, since the bigger market size is catered by gelatin & other source of capsules, the only way to cover the cost is by large scale production & considering raising awareness & preference of vegetable capsules in pharmaceutical & nutraceutical industry the high cost can be overcome in coming years.

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VEGETABLE CAPSULE MARKET REGIONAL INSIGHTS

"North America to dominate the Market due to its Biggest Consumer Base"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

The current market leader in global vegetable capsules market share is North America which is leading both in terms of consumption & revenue share, followed by Europe & the Asia Pacific. Consumers in North America are increasingly seeking products that are natural, non-GMO, and eco-friendly, and vegetable capsules are seen as a preferred alternative to gelatin capsules due to their natural origin, biodegradability, and vegan-friendly properties, moreover the awareness regarding such plant based alternative are much more in that region as compared to other parts of the world, due to developed pharmaceutical industry & dietary supplements industry which is driving heavy demands for vegetable capsules.

List of Top Vegetable Capsules Companies

• Capsugel (U.S.)
• Catalent (U.S.)
• Qualicaps (Japan)
• ACG Associated Capsules (India)
• Er-kang (China)
• Bahrain Pharma (Bahrain)
• Aenova ( Bavaria)
• Procaps Laboratories (Colombia)
• SIRIO (China)
• Shanxi GS Capsule (China)

INDUSTRIAL DEVELOPMENT

January 2024: Softgel capsules have been crafted using gelatin as the primary raw material. However, substantial investments in research and development, coupled with technological advancements, have ushered in the utilization of alternative sources for vegetarian softgel capsule production, streamlining manufacturing processes. The Global softgel capsules market exhibited significant growth in the historical period, achieving a commendable CAGR of approximately 4.0%. By 2023, the market reached a valuation of US$ 611.8 Million.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated time frame. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.