Global Vegetable (HPMC) Capsule Market Size Envisioned to Surpass $1,162 Million by 2030, Growing at 9.85% CAGR | Sowing Seeds of Prosperity
[221 + Pages Research Study] According to a market research study published by Zion Market Research, the demand analysis of Global Vegetable (HPMC) Capsule Market size & share revenue was valued at around USD 548 million in 2022 and is estimated to grow about USD 1,162 million by 2030, at a CAGR of approximately 9.85% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are ACG, Bright Caps GmbH, CapsCanada (Lyfe Group), Dah Feng Capsule (DFC), Erawat Pharma Limited, Evonik Industries AG, Lefancaps, LTD., Lonza, NATURAL CAPSULES LIMITED, Qingdao Yiqing Biotechnology Co., Ltd., Qualicaps, Shaanxi Genex Bio-Tech Co., Ltd, Shanxi Guangsheng Capsule Co., Ltd., Shaoxing Zhongya Capsule Co., Ltd., SILVACO A/S, SUHEUNG, Sunil Healthcare Limited, and Vivion, and others.
Houston, TX, Aug. 24, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Vegetable (HPMC) Capsule Market By Type (HPMC With Gelling Agent And HPMC Without Gelling Agent), By Application (Pharmaceuticals, Nutraceuticals, And Other Applications), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Vegetable (HPMC) Capsule Market size & share in terms of revenue was valued at USD 548 million in 2022 and it is expected to surpass around USD 1,162 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 9.85% during the forecast period 2023 to 2030.”
What is Vegetable (HPMC) Capsule? How big is the Vegetable (HPMC) Capsule Industry?
Vegetable (HPMC) Capsule Report Coverage & Overview:
Vegetable capsules, composed of hydroxypropyl methylcellulose (HPMC), consist of plant-derived elements. Hydroxypropyl methylcellulose (HPMC), also known as Hypromellose, is derived from wood pulp and is primarily composed of cellulose units that have been partially methylated and hydroxypropylated. HPMC serves as a tasteless, clear, and vegan-friendly material, aligning with vegetarian and vegan preferences. These capsules are crafted without the use of animal products and are free from genetic modification, boasting effective oxygen barrier characteristics.
The durability of HPMC capsules remains intact, even under harsh storage conditions, as they demonstrate resistance to cross-linking. This sets them apart from conventional gelatin-based capsules, which often face challenges when interacting with various molecules during formulation. To combat these issues, particularly concerning active pharmaceutical ingredients (API) and excipients that do not align well with gelatin, the development and widespread adoption of HPMC capsules have taken place.
Furthermore, HPMC capsules offer a solution to the moisture sensitivity and hygroscopic nature commonly associated with gelatin-based capsules. These capsules meet all the existing criteria set forth by the United States Pharmacopeia (USP) and the food chemical codex (FCC). They find utility in accommodating both fast-release and delayed-release (targeted) drugs. Manufacturers and researchers worldwide are deeply involved in advancing the application of HPMC for capsules, aiming to enhance the performance of formulations in diverse scenarios.
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Global Vegetable (HPMC) Capsule Market: Growth Dynamics
Projected Market Growth Driven by Escalating Demand and Advancements in Plant-Based Capsules
Anticipated expansion within the global vegetable (HPMC) capsule market stems from the burgeoning demand and ongoing developments in the realm of plant-based capsules, catering to applications in both pharmaceuticals and health supplements. Derived from plant or wood sources, HPMC capsules serve as a secure option for human consumption, offering a noteworthy alternative to gelatin capsules. These capsules find favor as a substitute for individuals abstaining from animal products, including vegetarians and vegans. They align seamlessly with kosher and halal requirements, appealing to consumers adhering to strict religious dietary practices. Beyond this, HPMC capsules effectively mask unpleasant flavors and odors of internal active ingredients, facilitating ease of consumption. Furthermore, these capsules boast exceptional moisture resistance and deter bacterial growth on their surfaces.
Numerous manufacturing entities are enhancing their product portfolios through the incorporation of vegetable HPMC capsules. In a notable instance, Evonik Industries AG introduced enteric-protected ready-to-fill capsules, EUDRACAP, of IPEC-GMP quality in July 2022. These coated hydroxypropyl methylcellulose (HPMC) capsules prove invaluable in safeguarding delicate active pharmaceutical ingredients (APIs) against moisture and gastric acid. EUDRACAP, an HPMC-based capsule, harmoniously integrates with fully automated capsule-filling machinery at high operational speeds.
Another significant development unfolded in November 2021, as ACG announced its collaboration with the Maharashtra state government to establish a vegetable HPMC capsule plant in Maharashtra, India. This ambitious endeavor, requiring an investment of approximately INR 800 crore, aims to supplant gelatin capsules.
Surging demand across the global pharmaceutical sector drives the consumption of vegetable HPMC capsules for an array of prescribed and over-the-counter (OTC) medications. For instance, data from the European Federation of Pharmaceutical Industries and Associations (EFPIA) underscored the global pharmaceutical (prescription) industry’s ex-factory value at EUR 1,222,921 million (equivalent to around USD 1,287,736 million) in 2022. Notably, pharmaceutical production in Europe accounted for about EUR 340,000 million in the same year, marking a growth rate of roughly 4.95% compared to the prior year. Europe’s share in the global pharmaceutical (prescription) industry constituted approximately 22.4%.
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|Market Size in 2022||USD 548 million|
|Projected Market Size in 2030||USD 1,162 million|
|CAGR Growth Rate||9.85% CAGR|
|Key Market Players||ACG, Bright Caps GmbH, CapsCanada (Lyfe Group), Dah Feng Capsule (DFC), Erawat Pharma Limited, Evonik Industries AG, Lefancaps, LTD., Lonza, NATURAL CAPSULES LIMITED, Qingdao Yiqing Biotechnology Co., Ltd., Qualicaps, Shaanxi Genex Bio-Tech Co., Ltd, Shanxi Guangsheng Capsule Co., Ltd., Shaoxing Zhongya Capsule Co., Ltd., SILVACO A/S, SUHEUNG, Sunil Healthcare Limited, and Vivion.|
|Key Segment||By Type, By Application, and By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Purchase Options||Request customized purchase options to meet your research needs. Explore purchase options|
Vegetable (HPMC) Capsule Market: Segmentation Analysis
The global vegetable (HPMC) capsule market is segmented based on type, application, and region.
Based on type, There are two distinct subsets of the global market for HPMC: those that contain gelling agents and those that do not. Because of their resistance to acid, products containing HPMC combined with gelling agents currently have a dominant position on markets around the world. In order to make HPMC capsules, the cold pin moulds are dipped into a hot solution of HPMC, which is then allowed to gel at a low temperature before being allowed to dry. In contrast to HPMC, gelatin will begin to solidify on its own at lower temperatures, making it an ideal candidate for this production technique. In order to successfully manufacture HPMC capsules, producers require the use of gelling agents throughout this procedure. Gellan gum, carrageenan, pectin, and a few additional ingredients are among the most important gelling agents that are utilised. However, many companies, like ACG and Lonza, are transitioning to a process of making HPMC capsules, which does not require the use of any gelling agent. This process may be found on the current market.
Based on application, The market for vegetable (HPMC) capsules is divided into the pharmaceuticals and nutraceuticals subindustries, as well as other applications. In 2022, the pharmaceuticals sector held the lion’s share of the total market share. Because vegetable HPMC capsules have a naturally low moisture content, it is possible to encapsulate medicinal substances that are hygroscopic and sensitive to moisture. This makes the process more cost-effective. At this time, numerous large pharmaceutical medicine makers all around the world are making extensive use of the HPMC capsules that they produce. T
hese capsules may include components in a wide variety of textures and consistencies, including powders, pellets, liquids, and semisolids. For the delivery of medications with foul and offensive tastes and odours, HPMC capsules are frequently utilised.The global Vegetable (HPMC) Capsule market is segmented as follows:
- HPMC with Gelling Agent
- HPMC without Gelling Agent
- Other Applications
Browse the full “Vegetable (HPMC) Capsule Market By Type (HPMC With Gelling Agent And HPMC Without Gelling Agent), By Application (Pharmaceuticals, Nutraceuticals, And Other Applications), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/vegetable-hpmc-capsule-market
Some of the main competitors dominating the global Vegetable (HPMC) Capsule market include –
- Bright Caps GmbH
- CapsCanada (Lyfe Group)
- Dah Feng Capsule (DFC)
- Erawat Pharma Limited
- Evonik Industries AG
- Lefancaps, LTD.
- NATURAL CAPSULES LIMITED
- Qingdao Yiqing Biotechnology Co., Ltd.
- Shaanxi Genex Bio-Tech Co., Ltd
- Shanxi Guangsheng Capsule Co., Ltd.
- Shaoxing Zhongya Capsule Co., Ltd.
- SILVACO A/S
- Sunil Healthcare Limited
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the global vegetable (HPMC) capsule market is estimated to grow annually at a CAGR of around 9.85% over the forecast period (2023-2030).
- In terms of revenue, the global vegetable (HPMC) capsule market size was valued at around USD 548 million in 2022 and is projected to reach USD 1,162 million, by 2030.
- The global vegetable (HPMC) capsule market is projected to grow at a significant rate due to the rising demand and development for plant-based capsules.
- Based on type segmentation, HPMC without Gelling Agent was predicted to show maximum market share in the year 2022.
- Based on application segmentation, pharmaceuticals were the leading revenue generator in 2022.
- On the basis of region, North America was the leading revenue generator in 2022.
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- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Type, By Application, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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North America Leading the Way in Projected Market Dominance
During the forecast period, it is anticipated that the global growth of vegetable (HPMC) capsules will be spearheaded by North America. This region holds a substantial portion of the worldwide pharmaceutical and nutraceutical sectors, consequently generating substantial demand for vegetable (HPMC) capsules annually. According to data from the European Federation of Pharmaceutical Industries and Associations (EFPIA), North America, encompassing the United States and Canada, accounted for a significant 52.3% share in the global pharmaceutical (prescription) market. Furthermore, the American Society of Health-System Pharmacists reported that total drug expenditures in 2022 reached USD 633.5 billion, marking a year-on-year growth rate of approximately 9.4%. Notably, specialty drug expenditures in the United States constituted 51.1% of the total prescription expenses. The United States also stands as one of the major nutraceutical product markets, with prominent players including Ambay, ADM, Herbalife Nutrition Ltd, and GNC Holdings, LLC. This region boasts some of the largest pharmaceutical entities globally, such as Johnson & Johnson, Eli Lilly and Co, Pfizer Inc, Novartis, Roche, GlaxoSmithKline, and Sanofi, among others. These industry giants can source HPMC capsules from North American HPMC capsule manufacturers. Key players like Lonza, CapsCanada (Lyfe Group), Qualicaps, and ACG operate in North America, reinforcing the region’s potential for vegetable (HPMC) capsule market growth.
Asia Pacific, particularly China and India, also commands a significant presence within the pharmaceutical realm. China hosts numerous HPMC capsule manufacturers, including Shanxi Guangsheng Capsule Co., Ltd., Qingdao Yiqing Biotechnology Co., Ltd., Shaanxi Genex Bio-Tech Co., Ltd., and Shaoxing Zhongya Capsule Co., Ltd., among others. The National Bureau of Statistics of China reports that the country’s pharmaceutical industry garnered approximately CNY 3.3 trillion in revenue in 2021, with robust growth continuing in 2022. India, recognized as a major supplier of affordable generic drugs worldwide, holds substantial sway. According to the India Brand Equity Foundation (IBEF), the Indian pharmaceutical sector is projected to reach a revenue of USD 65 billion by 2024 and potentially USD 130 billion by 2030. The Indian pharmaceutical landscape encompasses over 3,000 medicine companies and more than 10,500 production units. The Indian government is actively promoting foreign direct investment (FDI) in the pharmaceutical sector, with the drugs & pharmaceuticals sector receiving approximately USD 1,414 million in FDI inflows during FY2022. These multifaceted elements collectively foster significant potential for robust growth in the vegetable (HPMC) capsule industry within the region.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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Vegetable (HPMC) Capsule Market: Growth Prospects Expanding
Research and Development Initiatives in the Pharmaceutical Sector Fuel Growth Avenues
The global pharmaceutical realm is deeply immersed in research and development endeavors aimed at elevating product excellence and introducing novel offerings that adhere to prevailing regulatory standards. Vegetable-derived HPMC capsules seamlessly align with an array of benchmarks, including USP, FCC, Vegan Certification, Non-GMO Project Verification, Vegetarian Society Approval, Halal Certification, Kosher Approval, among others. With these endorsements underscoring their potential and considering the burgeoning landscape of the industry, numerous enterprises are channeling investments to penetrate the vegetable HPMC capsule sphere. For instance, in February 2023, Vivion, Inc. unveiled an array of HPMC capsules within its product repertoire, catering to diverse sizes and catering to diverse consumer segments, encompassing children, adults, and even small animals.
Furthermore, the escalating research and development activities across Europe are poised to provide a robust impetus to the expansion of the vegetable (HPMC) capsule sector. According to insights from the European Federation of Pharmaceutical Industries and Associations (EFPIA), Europe allocated approximately EUR 44,500 million toward pharmaceutical-focused research and development, reflecting a notable uptick of around 4.63% from the preceding year. Both pharmaceutical and nutraceutical establishments are displaying a keen interest in plant-based alternatives to conventional gelatin capsules, driven by an upsurge in consumer consciousness, evolving preferences, and related dynamics. These factors collectively cultivate a fertile ground for stimulating opportunities within the global vegetable (HPMC) capsule arena.
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