The global hard gelatin capsules market is projected to experience significant growth, with estimated sales valued at USD 1,940.3 million in 2024 and an anticipated increase to USD 3,409.7 million by 2034. This represents a compound annual growth rate (CAGR) of 5.8% over the forecast period. The revenue generated by hard gelatin capsules in 2023 was USD 1,833.9 million, reflecting a year-over-year growth of 5.9% in 2024.
Hard gelatin capsules are a critical pharmaceutical dosage form made from animal collagen, consisting of a body and cap that fit together seamlessly. These capsules are specifically designed to encase powdered or granular substances for oral administration.
The advantages of hard gelatin capsules are numerous. They effectively protect active components from moisture and air, preserving their potency and extending shelf life. Additionally, they facilitate easy swallowing and ensure accurate dosages, making them a preferred choice among consumers and healthcare professionals alike.
One of the primary factors driving the demand for hard gelatin capsules is the growth of the nutraceuticals market. As consumers increasingly seek health supplements and functional foods, the need for effective and reliable delivery methods, such as hard gelatin capsules, continues to rise.
Further, hard gelatin capsules allow for combination filling, unlike soft gels, allowing for the encapsulation of pharmaceuticals in the form of pellets, micro tablets, and beads in addition to the liquid formulation. This not only permits numerous incompatible pharmaceuticals to be combined in a single capsule but also results in a formulation that is far more appealing to consumers.
Increasing prevalence of non-communicable diseases such as cancer, diabetes, heart disease, and lung disorders has surged the demand for nutraceuticals. Hence, key players have established their positions in the market by investing more in research and having a better distribution system.
Key Takeaways from Market Study
- Type-B gelatin (animal bones & calf skin) as a source holds an approximate market share value of 7%of the global market in 2021.
- By size, size “0” capsules are expected to hold a dominant market share value of 7% in 2021 in the global market.
- Oral administration is displayed as a preferred route of administration in the global market with CAGR growth value expected to reach 4% by 2032.
- Pharmaceutical companies are the dominant segment in terms of end users within the global market, carrying an estimated market share value of about1% in 2021.
- The U.S. is considered to be the most lucrative market, accounting for a value share of 8% in 2021 in North America.
Market Competition
Market expansion will be hampered by increasing vendor competition. With the presence of numerous brands and regional and local vendors, the market is expected to be fragmented. Furthermore, suppliers in the hard gelatin capsules industry are expanding their offerings to include mobile healthcare, medical educators, primary care extenders, and patient advocates.
During the focused period, increased competition is expected to have a negative impact on the worldwide emergency medical service market growth. The hard gelatin capsules industry is fragmented, and providers are competing by using both organic and inorganic growth techniques.
Key Players :
- ACG Worldwide
- Lonza-Capsugel
- Qualicaps, Inc. – MITSUBISHI CHEMICAL HOLDINGS CORPORATION
- Sunil Healthcare Ltd.
- CapsCanada Corporation / Farmacapsulas
- Roxlor LLC
- Suheung Co., Ltd. – EmboCaps
- Medi-Caps Ltd.
- NLL – Nector Lifesciences Ltd.
- Natural Capsules
- ERAWAT PHARMA
- Dah Feng Capsule – Biocaps
- Lefan Capsule
- Qingdao Yiqing Medicinal Capsules Co., Ltd.
- SHANXI GUANGSHENG MEDICINAL CAPSULE
- HEALTH CAPS INDIA
- COMED CHEMICALS
- FORTCAPS HEALTHCARE
- SHAOXING ZHONGYA CAPSULE
- SHREE PHARMA CAPS
- SHAOXING KANGKE CAPSULE
- ZHEJIANG YUEXI CAPSULE
- SAVIOUR CAPS
- Chemcaps Ltd.
- Anhui Huangshan Capsule
- Jiujiang Angtai Capsule Co.,ltd
- MEIHUA Group
- Yili Capsule
- Xinchang Kangdi Capsule Co.,Ltd.
Key Market Segments Covered in Hard Gelatin Capsules Industry Research
By Source:
- Type-A (Pork Skin)
- Type-B Gelatin (Animal Bones & Calf Skin)
- Fish Bone Gelatin
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 Route of Administration:
- Oral Administration
- Inhalation Administration
By End User:
- Pharmaceutical Companies
- Cosmetic & Nutraceutical Companies
- CROs & CDMOs
Author
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 clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in 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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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