The U.S. pharmaceutical industry is driving growth for flavored capsules due to rising health consciousness and the demand for taste-improved nutraceuticals. With stringent quality standards and government support, the market is expected to grow at a 4.8% CAGR through 2034
NEWARK, DE / ACCESSWIRE / July 16, 2024 / As per Future Market Insights' latest analysis, the global flavored empty capsule market size is estimated to total USD 349.1 million in 2024. It will record healthy growth, with sales surging at 6.7% CAGR throughout the forecast period. By 2034, the total market valuation is set to reach USD 667.7 million.
Multiple factors are anticipated to propel the growth of the flavored empty capsule market during the next ten years. These include high incidence of chronic disease, escalating health awareness, and surging demand for palatable medications and dietary supplements.
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The health consciousness among consumers is increasing across the globe, and the recent pandemic has further solidified this trend. According to a survey conducted in August 2022, more than 60% of the global population has become more aware of preventing health problems.
Although concern regarding the COVID-19 pandemic has decreased, consumers are still making fundamental changes to their diet. Around 73% of respondents prioritize eating and drinking healthy. Also, modern lifestyles have led to stress, sedentary habits, and poor dietary choices. This has accentuated the need for various dietary supplements and medicines, requiring flavored capsules.
Individuals are actively seeking preventive measures to maintain well-being, leading to high consumption of medicines, nutraceuticals, and dietary supplements. This, in turn, will create growth opportunities for flavored empty capsule manufacturers.
Flavored capsules offer an appealing and convenient way to consume essential nutrients, vitamins, and herbal supplements. The majority of the supplements available in the market are in the form of capsules.
Several nutraceutical companies are also adopting flavored capsules because they suit children, pets, and autistic patients. To maximize their profits and increase their customer base, market players are coming up with novel flavors and other customization to address evolving end-user needs.
Key Takeaways from the Market Study:
The global flavored empty capsule industry is set to total USD 667.7 million by 2034.
Based on product, the type-B gelatin capsules accounted for a value share of 35.0% in 2023.
By end user, pharmaceutical companies held a 47.0% market value share in 2023.
Demand in the United States is forecast to surge at 4.8% CAGR through 2034.
France is poised to record a CAGR of 7.7% between 2024 and 2034.
"Collaborating with pharmaceutical companies to develop customized capsules for specific patient needs can provide a competitive advantage over other market players." - opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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Who is Winning?
Capsuline, Farmacapsulas, CapsCanada Corporation, Sunil Healthcare Ltd., Medi-Caps Ltd., and Buenatech are leading manufacturers and suppliers of flavored empty capsules listed in the report. These companies are constantly focusing on using novel flavors in their products to increase their customer base.
Several companies are looking to develop vegan capsules to woo eco-conscious customers. They also employ strategies like new facility establishments, partnerships, distribution agreements, and collaborations to gain a competitive edge in the market.
Recent Developments:
In March 2021, CapsCanada, a leader in capsule technology, launched a new liquid-filled hard capsule manufacturing service.
Flavored Empty Capsule Market Segmentation
By Product:
Type-A Gelatin
Type-B Gelatin
Fish Bone Gelatin
By Flavor:
-
Flavor for Human
Lemon
Mint
Orange
Grape
Coffee
Strawberry
Others
-
Flavor for Pets
Chicken
Bacon
Beef
By Size:
Size "000" Capsules
Size "00" Capsules
Size "0" Capsules
Size "1" Capsules
Size "2" Capsules
Size "3" Capsules
Size "4" Capsules
Size "5" Capsules
By End User:
Pharmaceutical Companies
Cosmetic & Nutraceutical Companies
Clinical Research Organizations(CRO's)
By Region:
North America
Latin America
East Asia
South Asia & Pacific
Western Europe
Eastern Europe
Middle East & Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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