Vegetable (HPMC) Capsule Market Size, Share, Growth, and Industry Analysis by Type (HPMC With Gelling Agent & HPMC Without Gelling Agent), By Application (Pharmaceuticals & Health Supplements) Regional Forecast From 2024 to 2032

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Vegetable (HPMC) Capsule Market Report Overview

The global vegetable (hpmc) capsule market size was USD 0.426 billion in 2023 & the market is expected to reach USD 0.97 billion in 2032, exhibiting a CAGR of 9.54% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with vegetable (hpmc) capsule experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Vegetable (hpmc) capsule are created using components derived from plants, such as cellulose or HPMC. They are a high-quality empty-capsule product that is acceptable to consumers with and without dietary restrictions as well as vegetarians. The HPMC vegetable capsules, also known as vegetarian capsules, were created out of necessity, in this case to satisfy the preferences of some customers for non-animal-based goods. Vegetarianism is gaining popularity around the world, and the market for plant-based foods is poised to grow even more. Vegetable capsule demand is also on the rise, and some pharmaceutical manufacturers are modifying their products to meet this new consumer demand.

Alternatively known as Hypromellose, HPMC stands for hydroxypropyl methylcellulose. The majority of supplement capsules are made of HMPC. It is clear, flavorless, and suitable for vegetarians and vegans. Typically, it is created by extracting it from wood pulp. Since they are made of cellulose fiber and are vegan, they are regarded as natural. As long as there are no perceived drawbacks compared to the animal-based original, the use of HPMC hard capsules is a boon for vegetarians and vegans in addition to the many consumers who shun animal products.

COVID-19 Impact: Industry Shutdown Causes Market Distortion

The COVID-19 outbreak caused problems for manufacturers of healthcare materials, including unstable markets, a drop in customer confidence, and difficulties with import and export commerce. The sourcing of raw materials, packaging, and distribution are all parts of the global supply chain. Due to lockdowns, moving commodities, labels, and other items has become difficult. In addition to having an immediate influence on markets, supply chains, supply and demand, and all of these other things, it also had a financial impact on the markets for healthcare. The pandemic altered the dynamics of the industry, compelling organisations to redesign every aspect of their operational frameworks in order to preserve stability amidst the disturbances. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall healthcare industry. This has partially impacted the vegetable (hpmc) capsule industry.

LATEST TRENDS

"Vegetarian Capsule to Boost the Market Growth"

The production of vegetarian capsules is the main trend driving up the vegetable (hpmc) capsule industry. Vegetarian capsules are becoming more popular as formulation design in the pharmaceutical and nutraceutical industries is improved by these types. By offering vegetarian or non-animal capsules with useful physiological properties, such as low moisture content that is best suited for hygroscopic drug and nutrient supplements, capsule manufacturers are generating high revenues from the pharmaceutical industries, which is boosting the overall market growth. This kind of product is becoming more popular in the vegan community. By offering vegetarian capsules and liquid filling technology to nutraceutical companies, capsule manufacturers are making sizable profits. The industry is anticipated to grow during the forecast period thanks to this trend. Thus, it is anticipated that the increasing of vegetarian capsules will increase overall market sales. These new developments and varieties in product are mostly to blame for the market's overall growth.

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Vegetable (HPMC) Capsule Market Segmentation

• By Types 

Based on type, the market is classified into HPMC With Gelling Agent & HPMC Without Gelling Agent.

• By Application

Based on the market is categorized into Pharmaceuticals & Health Supplements.

DRIVING FACTORS

"Increasing Use of Gelatin Capsule that Gives the Market Extra Boost"

The main proponent of growth Gelatin capsule usage is rising as a result of the market expansion. The last few years have seen a steady increase in the size of the global market. Gelatin capsules have been used quite frequently for many years, and it is anticipated that decreasing preference for non-animal capsules will continue to increase demand for vegetable capsule. HPMC (or Hydroxypropyl Methylcellulose) is a key component in addressing low bioavailability. It is typically made by extraction from wood pulp or vegetable cellulose. Easy to swallow HPMC capsules can cover up the unpleasant taste of the capsule's contents. These capsule types are the best substitutes for gelatin capsules because they are highly durable, have a long shelf life, don't cause cross-linking issues, and have a higher oxygen permeability. Vegans and people who follow strict ethical or dietary rules are particularly fond of these types of capsules. Increased use of vegetable capsules, an increase in the incidence of various diseases, improvements in drug delivery methods, and quick dissolving properties all contribute to revenue growth. As a result, the growth, and the Increasing use of gelatin capsule will boost the market. It will contribute to the expansion of the healthcare industry and it will improve the overall vegetable (HPMC) capsule market growth.

"Product Line Expansion to Encourage Market Expansion"

Expanding the product line is another factor boosting the market. Manufacturers of vegetable (HPMC) capsule provide a variety of goods with features like resistance to gastric acid, enteric coating, and quick disintegration. They also facilitate specialized clinical trials to broaden their customer base. Customers' preferences for or rejection of gelatin-based products made from bovine hide and porcine skin is primarily to blame for this. However, only a small number of businesses keep their product line limited to hard gelatin capsules and not vegetarian capsules. If these businesses add vegetarian, marine, and other plant-sourced gelatin capsules to their product line, they can anticipate significant incremental growth opportunities. Over the course of the forecast period, the aforementioned factors are anticipated to affect sales of the industry. This will increase demand for the product and help the industry as a whole to expand. The product line expansion is helping the market to grow.

RESTRAINING FACTORS

"High Cost of Product to Impede Market Expansion"

The market for vegetable (HPMC) capsules has been expanding steadily, but some factors are anticipated to moderate market expansion in the coming years. Compared to gelatin capsules, (HPMC) capsules are more expensive because different ingredients are used in their production. HPMC capsule production is more expensive as well, and because the walls of the capsules are thin, special handling precautions must be taken. Additionally, it takes longer for these capsules to dissolve in the body. These are a few things that might be anticipated to have some negative effects on market growth during the forecasted period. Therefore, during the forecast period, these factors are anticipated to restrain market growth. But as time goes on, this issue will be resolved in some way. If this problem is fixed, the market will start to grow right away.

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Vegetable (HPMC) Capsule Market Regional Insights

"North America Dominating the Market Across the Globe"

The market for vegetable (hpmc) capsule industry in North America has benefited from the region's expanding industrial development and a number of driving factors that have boosted the potential sectors because this region is the product's primary user. The rising product use in pharmaceuticals & health supplements sector is boosting the vegetable (hpmc) capsule market share. Trends toward rapid urbanization will support the market as a whole even more.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

LIST OF TOP VEGETABLE (HPMC) CAPSULE COMPANIES

•      Lonza (capsugel) (U.S.)
•     Qualicaps (U.S.)
•      Farmacapsulas (U.S.)
•      Suheung (South Korea)
•     MPI NutriPharma (Netherland)

REPORT COVERAGE

The research goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including current and potential market leaders. A sizable market expansion is anticipated as a result of a number of important factors. The research also examines factors that may increase the vegetable (hpmc) capsule share in order to provide market insights. The report makes forecasts for market expansion over the anticipated time period. The objective of the regional research is to explain why one region dominates the global market. A number of properly taken into account factors prevent the industry from growing. The research also includes a strategic analysis of the market. It includes thorough market information.