The global liquid filled capsule market is expected to rise at a CAGR of 2.9% in the forecast period 2024 to 2034. The market value is projected to increase from USD 1,587.1 million in 2024 to USD 2,113.9 million in 2034. The liquid filled capsule market was valued at USD 1,548.2 million in 2023.
Attributes | Key Insights |
---|---|
Base Value, 2023 | USD 1,548.2 million |
Estimated Global Liquid Filled Capsule Market Size (2024E) | USD 1,587.1 million |
Projected Liquid Filled Capsule Market Value (2034F) | USD 2,113.9 million |
Value-based CAGR (2024 to 2034) | 2.9% |
Growing consumer attention on health & wellness and general awareness of the benefits of dietary supplements and healthier lifestyles are propelling the market. Liquid capsule formulations are easier to swallow and absorb more quickly in the body than tablet formulations. Hence, liquid-filled capsules are becoming increasingly popular as dietary supplements in the nutraceutical industry.
The production of liquid-filled capsules is now consistent and efficient due to advancements in precision and automation in modern encapsulation machines. This guarantees consistent dosage and quality of capsules.
The market for liquid capsule-filling machines is further expected to surge due to rising healthcare costs, population growth, and adoption of liquid filled capsules. The machines' low maintenance requirements and rising disposable income are anticipated to help fuel the market value.
Other factors influencing liquid-filled capsule market expansion include the growing requirement for product standardization, the need for acceptable hygiene, and the increasing use of automated & sophisticated technology. Furthermore, the market for liquid capsule-filled capsules is projected to rise due to ongoing technological advancements.
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The global liquid-filled capsule market recorded a historical CAGR of 2.5% from 2019 to 2023. In 2023, the market attained a valuation of USD 1,548.2 million.
The market for liquid-filled capsules has grown as a result of the expansion of the nutraceutical industry. Vitamins, minerals, and other nutritional supplements are frequently delivered in liquid-filled capsule form, which is in line with the rising consumer interest in health & wellness.
Improvements in encapsulation techniques and quality control procedures, among other advancements in capsule manufacturing technology, have increased the productivity and dependability of creating liquid-filled capsules. By achieving quality requirements and enhancing production capacities, this has helped the market to flourish.
Liquid-filled capsules have become widely used due to the requirement for specific drug delivery methods and the movement toward personalized medicine. These capsules provide customization in terms of dosages, combinations, and release profiles to cater to the specific needs of each patient.
Higher-quality liquid-filled capsules have resulted from improvements in the accuracy and efficiency of the encapsulation process brought about by advancements in capsule manufacturing technologies. The use of substitute materials for capsule shells has increased, particularly to satisfy the needs of vegetarian and vegan customers. Alternatives to conventional gelatin, such as plant-based gelatin, are gaining traction in the market.
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The table below shows the estimated growth rates of the top five countries. Japan, China, and India are set to record high CAGRs of 7.4%, 7.0%, and 5.7%, respectively, through 2034.
Countries | Value CAGR |
---|---|
United States | 3.7% |
China | 7.0% |
India | 5.7% |
Japan | 7.4% |
Germany | 4.8% |
The United States dominated the global market with a 33.3% share in 2023. The regulatory environment in the United States significantly impacts the liquid-filled capsule market.
The Food and Drug Administration (FDA) of the United States established stringent regulatory standards for pharmaceuticals and healthcare products. The regulatory framework ensures that drugs and dosage forms, including liquid-filled capsules, are safe, effective, and high quality.
Consumers and healthcare professionals have confidence in the safety and quality of pharmaceutical products because of the FDA's rigorous approval process and adherence to Good Manufacturing Practices (GMP). The United States' reputation for manufacturing high-quality pharmaceuticals is attributed to its strong regulatory framework, which draws domestic and foreign pharmaceutical companies to invest in and support the market.
Rising demand has been witnessed in the United States nutraceutical market, driven by product innovation and less stringent regulatory hurdles than those mandated for the pharmaceutical industry in other Western economies. Hence, the growing demand in the nutraceutical space is expected to drive the market for liquid filled capsules in the forecast period.
China has implemented extensive healthcare reforms to increase the quality of medical care, easy access to healthcare services, and foster innovation in the pharmaceutical industry. The demand for pharmaceutical products, particularly innovative drug delivery systems like liquid-filled capsules, is rising.
It is due to the expansion of healthcare coverage and focus on preventative care. Pharmaceutical firms in China are launching novel dosage forms to address the changing demands of the populace regarding healthcare.
In India, the cost-effectiveness of manufacturing pharmaceutical products, including liquid-filled capsules, is a key factor influencing the market. India is renowned for its ability to produce innovative capsule delivery systems and generic medications at a low cost of production.
The cost benefits in the market result from cheaper labor, accessible raw materials, and effective production methods. India-based pharmaceutical companies are making significant research and development investments to expand their product lines and provide cutting-edge dosage forms, such as liquid-filled capsules, at competitive pricing.
Japan’s pharmaceutical industry increasingly uses cutting-edge drug delivery techniques to improve patient compliance and medication efficacy. For certain formulations, liquid-filled capsules are estimated to be the better option.
Pharmaceutical regulations in Japan are quite stringent. Companies involved in the liquid-filled capsule business must abide by these rules.
Consumers typically prioritize safe and high-quality products in Japan. To achieve consumer expectations, manufacturers in the liquid-filled capsule market must guarantee product quality, stability, and adherence to safety regulations.
Germany’s liquid filled capsule market is positively influenced by cutting-edge technologies in capsule manufacturing. Manufacturers are enhancing encapsulation procedures and quality control techniques to guarantee product quality and consistency of their product in the market.
Sustainability of the environment is a key priority among companies in Germany. Companies in the liquid-filled capsule market are directing toward eco-friendly packaging solutions and materials to comply with the nation's environmental objectives.
The below section shows the softgel capsule segment dominating by product type. It is expected to surge at a CAGR of 2.7% by 2034. Based on raw material, the gelatin segment is anticipated to hold the dominant share through 2024. It is projected to rise at a CAGR of 2.6% through 2034.
Segment | Value CAGR |
---|---|
Gelatin (Raw Material) | 2.6% |
Pharmaceutical Companies (End-user) | 2.1% |
Vitamin and Dietary Supplements (Application) | 2.1% |
Softgel Capsules (Products) | 2.7% |
Softgel capsules dominated the global market with a 67.6% market share in 2023. Softgel capsules provide improved bioavailability, ease of swallowing, and compatibility with several formulations. Consumers favor softgel capsules due to their smooth texture and perceived effectiveness, which makes them a popular option for pharmaceutical, nutraceutical, and cosmetic products.
Softgel capsules also offer efficient packaging that shields the contents from outside influences like moisture and light. This enhances the encapsulated product's stability and shelf life. Consumers are expected to find softgel capsules simpler to swallow than tablets or hard capsules, which is anticipated to drive softgel capsule sales.
Gelatin dominated the global market with a 73.4% market share in 2023. The segment is projected to continue experiencing high growth throughout the forecast period.
The key ingredient used in producing liquid filled capsules is gelatin made from animal collagen. Gelatin contributes to the liquid-filled capsules' stability and longer shelf life by acting as an efficient barrier to shield the encapsulated substance from external influences.
With the rise of vegan trend, consumers are looking for vegan alternatives to liquid filled capsules made from gelatin. Manufacturers are adopting alternatives such as hydroxypropyl methylcellulose (HPMC) to accommodate consumers' dietary requirements.
The market for liquid filled capsules is quite fragmented with several leading competitors. Key players are directed toward growth strategies such as partnerships, collaborations, product launches, acquisitions, and mergers to satisfy customer demand and grow their clientele.
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Attribute | Details |
---|---|
Estimated Value (2024) | USD 1,587.1 million |
Projected Value (2034) | USD 2,113.9 million |
Anticipated Growth Rate (2024 to 2034) | 2.9% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | USD million for Value |
Key Regions Covered | North America; Latin America; South Asia and Pacific; East Asia; Western Europe; Eastern Europe; Middle East and Africa |
Key Countries Covered | United States, Canada, Mexico, Brazil, Chile, China, Japan, South Korea, India, Association of Southeast Asian Nations, Australia and New Zealand, Germany, Italy, France, United Kingdom, Spain, BENELUX, Nordic Countries, Russia, Hungary, Poland, Saudi Arabia, Türkiye, South Africa, Other African Union. |
Key Market Segments Covered | Product, Raw Material, Application, End-user, and Region |
Key Companies Profiled | Lonza Capsules & Health Ingredients; Aenova Group; Fuji Capsule Co., Ltd; Catalent, Inc.; EuroCaps Ltd; Guangdong Yichao Biotechnology Co., Ltd.; Captek Softgel International Inc.; Soft Gel Technologies Inc.; Thermo Fisher Scientific Inc. (Patheon); Delpharm Evreux; Curtis Health Caps; CapsCanada; Altasciences; Fermentis Life Sciences; ACG; Sunil Healthcare Limited; Ascendia Pharmaceuticals; LIQUIDCAPSULE MANUFACTURING LLC; SMPNutra.com |
Report Coverage | Market Forecast, Competition Intelligence, Drivers, Restraints, Opportunities, Trends Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
The market was valued at USD 1,548.2 million in 2023.
The global market is set to reach a valuation of USD 2,113.9 million in 2034.
The softgel capsules segment held 67.6% share of the global market in 2022.
Demand in the global market increased at a 2.5% CAGR from 2019 to 2023.
The global market is estimated to reach around USD 1,587.1 million by 2024.
The United States accounted for a 33.3% share of the global market in 2023.
Market Value for 2024 | USD 2,956.6 million |
---|---|
Market Size for 2034 | USD 6,378.6 million |
Market CAGR (2024 to 2034) | 8.0% |
Market Size, 2023 | USD 1,538.3 million |
---|---|
Market Size, 2033 | USD 10,938.6 million |
Value CAGR (2023 to 2033) | 21.7% |
Market Size, 2023 | USD 305.3 Million |
---|---|
Market Size, 2033 | USD 582.5 Million |
Value CAGR (2023 to 2033) | 6.7% |
Market Value in 2021 | USD 179.9 Million |
---|---|
Market Value in 2032 | USD 841.0 Million |
Market CAGR (2022 to 2032) | 16.2% |
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