Empty Capsules Market Size and Share

Empty Capsules Market (2026 - 2031)
Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Empty Capsules Market Analysis by Mordor Intelligence

The Empty Capsules Market size is estimated at USD 3.95 billion in 2026, and is expected to reach USD 5.62 billion by 2031, at a CAGR of 7.32% during the forecast period (2026-2031).

Growth reflects pharmaceutical companies’ shift toward modular oral doses that protect moisture-sensitive actives, while nutraceutical brands adopt hard-shell formats to overcome taste-masking challenges in personalized supplement programs. Premium pricing for plant-based shells, wider Halal and vegan certifications, and the spread of controlled-release designs from oncology to mass-market probiotics collectively fuel value expansion rather than pure volume gains. Manufacturers with vertically integrated HPMC plants or diversified gelatin sourcing capture outsized margins as supply security becomes a competitive differentiator. Continuous manufacturing, AI-enabled inspection, and on-demand filling further compress time-to-market, supporting the empty capsules market’s evolution from commodity shell production to functionality-led differentiation.

Key Report Takeaways

  • Gelatin capsules held a 65.55% empty capsules market share in 2025, while non-gelatin formats are forecast to grow 10.25% CAGR through 2031. 
  • Animal-derived raw materials represented 68.53% of sourcing in 2025; plant and fermentation inputs will expand 10.85% CAGR, raising the segment’s portion of the empty capsules market size despite continuing supply bottlenecks. 
  • Immediate-release capsules dominated with 70.63% revenue in 2025; enteric and delayed-release shells will advance at 8.87% CAGR as probiotic and enzyme products move mainstream. 
  • Antibiotic formulations accounted for 34.33% of therapeutic demand in 2025, yet vitamins and dietary supplements will record the fastest 8.7% CAGR as personalized nutrition scales. 
  • The pharmaceutical sector contributed 52.52% of demand in 2025; nutraceutical end users will post a 9.21% CAGR as direct-to-consumer brands embrace capsule economics. 
  • North America commanded 42.13% of global revenue in 2025; Asia-Pacific will expand at 10.51% CAGR through 2031 as production migrates to China and India.

Note: Market size and forecast figures in this report are generated using Mordor Intelligence’s proprietary estimation framework, updated with the latest available data and insights as of January 2026.

Segment Analysis

By Product Type: Non-Gelatin Formats Capture Premium Positioning

Non-gelatin shells will grow 10.25% CAGR to 2031, outperforming the empty capsules market by close to 300 basis points as Halal compliance, vegan demand, and probiotic stability concerns rise. Gelatin still delivered 65.55% of revenue in 2025, anchored by its low cost and rapid dissolution, yet HPMC and pullulan now secure premium niches. HPMC capsules extend probiotic shelf life by virtue of their 4-6% moisture content, while pullulan’s superior oxygen barrier serves antioxidants despite a 40-50% price premium. 

Softgels remain vital for lipophilic APIs but face scrutiny over 8-12% API loss during sealing. Starch-based and modified-starch shells, still in pilot phases, promise mid-term alternatives with moisture resilience. Hybrid gelatin-HPMC blends launched in 2025 balance certification and performance, signaling more SKU convergence ahead.

Empty Capsules Market: Market Share by Product Type
Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.
Get Detailed Market Forecasts at the Most Granular Levels
Download PDF

By Raw-Material Source: Fermentation Platforms Challenge Animal Dominance

Animal-derived gelatin held 68.53% share in 2025, yet plant and fermentation inputs will log 10.85% CAGR, aided by disease-related supply shocks and ethically driven consumption. Porcine gelatin’s cost edge keeps it a staple outside Muslim-majority markets, while bovine gelatin satisfies Halal claims at a 15-20% premium. Pharma-grade HPMC supply remains tight, capping rapid migration, but pullulan’s 0.5 cc/m²/day oxygen permeability secures high-value nutraceutical orders. Starch and algal polysaccharides lag amid brittleness and harvest variability.

By Functionality: Enteric Coatings Migrate from Niche to Mainstream

Immediate-release shells captured 70.63% of sales in 2025; however, enteric and delayed-release formats will expand 8.87% CAGR as enzymes, probiotics, and colon-targeted drugs proliferate. High-throughput coating lines now process up to 300,000 capsules per hour, halving per-unit costs and widening adoption beyond oncology. Dual-release designs combining pulsatile and sustained layers remain specialty but illustrate capsules’ modular potential for lifecycle management.

By Therapeutic Application: Supplements Outpace Antibiotics as Growth Engine

Antibiotics delivered 34.33% of 2025 demand, yet stewardship programs and low reimbursement curb future expansion. Vitamins and dietary supplements will rise 8.7% CAGR, propelled by direct-to-consumer personalization platforms. Probiotics, with 11-13% forecast growth, dominate new capsule launches due to stability advantages versus chewables or powders, while GLP-1 agonists herald peptide-protected shells for metabolic care.

Empty Capsules Market: Market Share by Therapeutic Application
Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Note: Segment shares of all individual segments available upon report purchase

Get Detailed Market Forecasts at the Most Granular Levels
Download PDF

By End User: Nutraceutical Brands Embrace Capsule Economics

Pharmaceutical companies absorbed 52.52% of 2025 volume, but nutraceuticals will post 9.21% CAGR as startups prefer minimum batches of 50,000 units and 4-6-week commercialization timelines that tablets cannot match. CDMOs invest in flexible suites switching between gelatin and HPMC, charging premiums for mixed-mode capacity. Veterinary, cosmetic, and research segments collectively remain under 10% but offer high-margin pockets for regional suppliers.

Geography Analysis

North America generated 42.13% of 2025 revenue, driven by FDA incentives that favor domestic continuous manufacturing and by USD 27 billion in recent U.S. pharma investment, yet labor costs hold regional CAGR below Asia-Pacific. Canada benefits from clinical-trial clustering, while Mexico rises as a near-shore alternative circumventing trans-Pacific logistics. Environmental compliance—such as California’s Proposition 65—adds incremental per-unit costs but reinforces quality differentiation.

Europe accounted for roughly 29% of global demand in 2025. Germany, France, and the United Kingdom lead consumption, yet fragmented national rules lengthen validation cycles. Onshoring accelerates after pandemic-era shortages, as evidenced by Lonza’s CHF 150 million Swiss expansion and Roquette’s French HPMC line. Dual inventories for EU and post-Brexit UK specifications add complexity, while Southern European austerity caps price escalation.

Asia-Pacific is the growth engine, advancing 10.51% CAGR through 2031. China and India, together supplying nearly 70% of regional capsules, add capacity under NMPA and PLI incentives, respectively. Sirio Pharma’s acquisition spree and ACG’s 50-billion-unit Mumbai expansion underscore scale ambitions. Japan targets premium enteric niches, South Korea pursues vegetarian communities, and Australia leverages its clinical-trial ecosystem. The Middle East & Africa, at 6-8% share, gain from Halal mandates and GCC healthcare spend, while South America struggles with currency swings despite Brazil’s localized expansions.

Empty Capsules Market CAGR (%), Growth Rate by Region
Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.
Get Analysis on Important Geographic Markets
Download PDF

Competitive Landscape

The top players, Lonza (Capsugel), Qualicaps, ACG, Sirio Pharma, and Patheon, control a significant percentage of the empty capsules market, leaving space for regional specialists and niche innovators. Lonza’s 2024 enteric-coating line illustrates a pivot toward functionality over volume, chasing higher margins. Qualicaps leverages Roquette’s HPMC integration to guarantee supply amid raw-material scarcity. ACG pioneers AI-enabled inspection, boosting throughput and defect detection tenfold. Sirio’s consolidation builds scale but raises Western procurement risk under emerging BIOSECURE restrictions. Pullulan-focused newcomers such as Hayashibara target oxygen-sensitive nutraceuticals, while starch-based startups position for cost-down disruption once brittleness hurdles fall. Commodity shells face pricing pressure as Asian capacity expands, whereas specialty capsules maintain premiums through technology and certification barriers.

Empty Capsules Industry Leaders

  1. Lonza Group (Capsugel)

  2. Qualicaps (Roquette)

  3. ACG Worldwide

  4. Sirio Pharma Co., Ltd.

  5. Patheon (Thermo Fisher)

  6. *Disclaimer: Major Players sorted in no particular order
Empty Capsules Market
Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.
Need More Details on Market Players and Competitors?
Download PDF

Recent Industry Developments

  • November 2025: PSK Pharma launched production of empty hard gelatin capsules under the PHARMCAPS brand.
  • October 2025: ACG announced USD 200 million for its first U.S. empty-capsule plant, enhancing domestic supply security.

Table of Contents for Empty Capsules Industry Report

1. Introduction

  • 1.1 Study Assumptions & Market Definition
  • 1.2 Scope of the Study

2. Research Methodology

3. Executive Summary

4. Market Landscape

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Growing pharmaceutical manufacturing volume
    • 4.2.2 Rising nutraceutical consumption
    • 4.2.3 Advancements in capsule-filling technology
    • 4.2.4 Shift toward personalized dose packaging
    • 4.2.5 Integration of digital health technologies
    • 4.2.6 Expansion of continuous manufacturing infrastructure
  • 4.3 Market Restraints
    • 4.3.1 Volatility in gelatin raw-material supply
    • 4.3.2 Stringent religious & dietary compliance
    • 4.3.3 Limited availability of pharma-grade HPMC
    • 4.3.4 Climate-induced supply-chain instability
  • 4.4 Supply-Chain Analysis
  • 4.5 Regulatory Landscape
  • 4.6 Technological Outlook
  • 4.7 Porter's Five Forces
    • 4.7.1 Threat of New Entrants
    • 4.7.2 Bargaining Power of Buyers
    • 4.7.3 Bargaining Power of Suppliers
    • 4.7.4 Threat of Substitutes
    • 4.7.5 Intensity of Competitive Rivalry

5. Market Size & Growth Forecasts (Value, USD)

  • 5.1 By Product Type
    • 5.1.1 Gelatin Capsules
    • 5.1.1.1 Hard Gelatin Capsules
    • 5.1.1.2 Soft Gelatin Capsules
    • 5.1.2 Non-Gelatin Capsules
    • 5.1.2.1 HPMC Capsules
    • 5.1.2.2 Pullulan Capsules
    • 5.1.2.3 Starch-based Capsules
    • 5.1.2.4 Other Plant-based Capsules
  • 5.2 By Raw-Material Source
    • 5.2.1 Animal-Based
    • 5.2.1.1 Porcine Gelatin
    • 5.2.1.2 Bovine Gelatin
    • 5.2.1.3 Fish-derived Gelatin
    • 5.2.2 Plant & Fermentation-Based
    • 5.2.2.1 HPMC
    • 5.2.2.2 Pullulan
    • 5.2.2.3 Starch
    • 5.2.2.4 Algal Polysaccharides
  • 5.3 By Functionality
    • 5.3.1 Immediate-Release
    • 5.3.2 Sustained / Extended-Release
    • 5.3.3 Delayed / Enteric-Release
    • 5.3.4 Others (Colon-Targeted / pH-Sensitive and Dual / Multiple-Release)
  • 5.4 By Therapeutic Application
    • 5.4.1 Antibiotic & Antibacterial
    • 5.4.2 Vitamins & Dietary Supplements
    • 5.4.3 Antacid & Antiflatulent
    • 5.4.4 Cardiovascular Therapy
    • 5.4.5 Pain Management & CNS
    • 5.4.6 Probiotics & Gut Health
    • 5.4.7 Metabolic & Endocrine Disorders
    • 5.4.8 Other Applications
  • 5.5 By End User
    • 5.5.1 Pharmaceutical Industry
    • 5.5.2 Nutraceutical & Functional-Food Industry
    • 5.5.3 Cosmetic & Personal-Care Industry
    • 5.5.4 Contract Development & Manufacturing Org. (CDMOs)
    • 5.5.5 Research & Academic Laboratories
    • 5.5.6 Veterinary & Animal-Health Sector
  • 5.6 By Geography
    • 5.6.1 North America
    • 5.6.1.1 United States
    • 5.6.1.2 Canada
    • 5.6.1.3 Mexico
    • 5.6.2 Europe
    • 5.6.2.1 Germany
    • 5.6.2.2 United Kingdom
    • 5.6.2.3 France
    • 5.6.2.4 Italy
    • 5.6.2.5 Spain
    • 5.6.2.6 Rest of Europe
    • 5.6.3 Asia-Pacific
    • 5.6.3.1 China
    • 5.6.3.2 India
    • 5.6.3.3 Japan
    • 5.6.3.4 Australia
    • 5.6.3.5 South Korea
    • 5.6.3.6 Rest of Asia-Pacific
    • 5.6.4 Middle East and Africa
    • 5.6.4.1 GCC
    • 5.6.4.2 South Africa
    • 5.6.4.3 Rest of Middle East and Africa
    • 5.6.5 South America
    • 5.6.5.1 Brazil
    • 5.6.5.2 Argentina
    • 5.6.5.3 Rest of South America

6. Competitive Landscape

  • 6.1 Market Concentration
  • 6.2 Market Share Analysis
  • 6.3 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products & Services, and Recent Developments)
    • 6.3.1 ACG Worldwide
    • 6.3.2 Aenova Group
    • 6.3.3 Bright Pharma Caps Inc.
    • 6.3.4 CapsCanada Corporation
    • 6.3.5 Er-Kang Pharmaceutical Co. Ltd.
    • 6.3.6 Fujifilm Corp. (Fujicaps)
    • 6.3.7 HealthCaps India Ltd.
    • 6.3.8 Lonza Group (Capsugel)
    • 6.3.9 Medi-Caps Ltd.
    • 6.3.10 Natural Capsules Ltd.
    • 6.3.11 Nectar Lifesciences Ltd.
    • 6.3.12 Patheon (Thermo Fisher)
    • 6.3.13 Qingdao Yiqing Medicinal Capsules Co. Ltd.
    • 6.3.14 Qualicaps (Roquette)
    • 6.3.15 Shanxi Guangsheng Medicinal Capsules Co. Ltd.
    • 6.3.16 Shanxi JC Biological Technology Co. Ltd.
    • 6.3.17 Sirio Pharma Co., Ltd.
    • 6.3.18 Suheung Capsule Co., Ltd.
    • 6.3.19 Sunil Healthcare Ltd.
    • 6.3.20 Zhejiang Huangyan Gelatin Capsule Co. Ltd.
    • 6.3.21 Zhejiang Ruixin Capsules Co. Ltd.

7. Market Opportunities & Future Outlook

  • 7.1 White-Space & Unmet-Need Assessment
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Research Methodology Framework and Report Scope

Market Definitions and Key Coverage

Our study defines the empty capsules market as all newly manufactured, unfilled hard gelatin and non-gelatin shells that are sold to pharmaceutical, nutraceutical, cosmetic, and research formulators for oral dosage preparation. These shells may be animal-derived (bovine, porcine) or plant-based (HPMC, pullulan, starch), and the valuation is recorded at factory gate in USD.

Scope exclusion: single-use blister packs, pre-filled softgels, and capsule filling machinery are not counted.

Segmentation Overview

  • By Product Type
    • Gelatin Capsules
      • Hard Gelatin Capsules
      • Soft Gelatin Capsules
    • Non-Gelatin Capsules
      • HPMC Capsules
      • Pullulan Capsules
      • Starch-based Capsules
      • Other Plant-based Capsules
  • By Raw-Material Source
    • Animal-Based
      • Porcine Gelatin
      • Bovine Gelatin
      • Fish-derived Gelatin
    • Plant & Fermentation-Based
      • HPMC
      • Pullulan
      • Starch
      • Algal Polysaccharides
  • By Functionality
    • Immediate-Release
    • Sustained / Extended-Release
    • Delayed / Enteric-Release
    • Others (Colon-Targeted / pH-Sensitive and Dual / Multiple-Release)
  • By Therapeutic Application
    • Antibiotic & Antibacterial
    • Vitamins & Dietary Supplements
    • Antacid & Antiflatulent
    • Cardiovascular Therapy
    • Pain Management & CNS
    • Probiotics & Gut Health
    • Metabolic & Endocrine Disorders
    • Other Applications
  • By End User
    • Pharmaceutical Industry
    • Nutraceutical & Functional-Food Industry
    • Cosmetic & Personal-Care Industry
    • Contract Development & Manufacturing Org. (CDMOs)
    • Research & Academic Laboratories
    • Veterinary & Animal-Health Sector
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • United Kingdom
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • Rest of Asia-Pacific
    • Middle East and Africa
      • GCC
      • South Africa
      • Rest of Middle East and Africa
    • South America
      • Brazil
      • Argentina
      • Rest of South America

Detailed Research Methodology and Data Validation

Primary Research

Our team interviewed capsule manufacturers, excipient distributors, contract development organizations, and pharmacists across North America, Europe, and Asia. These conversations verified typical capsule utilization rates per finished dose, current ASP movement, and the speed at which plant-based formats gain share, filling gaps left by secondary data before totals were finalized.

Desk Research

We began by mapping published capsule production statistics and trade codes from sources such as UN Comtrade, Eurostat's Prodcom, and the U.S. International Trade Commission, then layered them with pharmaceutical output indices from the WHO Global Health Observatory and nutraceutical shipment data released by the Council for Responsible Nutrition. Company 10-K filings, recent patent families (Questel), and news archives on Dow Jones Factiva guided supply pipeline checks.

Next, Mordor analysts validated raw material availability using gelatin import flows (Volza) and cross-checked consumption trends through regional drug master files and association white papers. These mixed public and paid inputs built the baseline volumes and typical average selling prices. The sources cited above are illustrative; many additional datasets were reviewed to clarify and validate numbers.

These mixed public and paid inputs built the baseline volumes and typical average selling prices. The sources cited above are illustrative; many additional datasets were reviewed to clarify and validate numbers.

Market-Sizing & Forecasting

A combined top-down production and trade reconstruction was first run: global hard-capsule output and net exports were valued using region-specific ASPs. Results were then corroborated with selective bottom-up checks, supplier roll-ups, and sampled ASP × volume from audited annual reports to fine-tune totals. Key variables inside the model include pharmaceutical solid-dose output, nutraceutical launch counts, gelatin input prices, capsule size mix, regulatory approvals, and vegetarian population growth. Forecasts to 2030 stem from a multivariate regression that links these drivers to observed market expansions and adjusts under three demand scenarios. Where bottom-up data were patchy, gaps were bridged with midpoint estimates agreed during expert calls.

Data Validation & Update Cycle

We run anomaly filters, variance thresholds, and peer reviews; any outlier above three standard deviations triggers a model rerun and follow-up calls. Reports are refreshed every twelve months, with interim revisions when material events, such as plant shutdowns and regulatory shifts, occur. A final analyst pass ensures clients receive the latest vetted view.

Why Mordor's Empty Capsules Baseline Deserves Trust

Published figures often diverge because firms choose different capsule types, end-user mixes, price assumptions, and refresh cadences.

Key gap drivers here include whether nutraceutical demand is counted, the firmness of ASP progression methods, and how frequently models are updated.

Benchmark comparison

Market SizeAnonymized sourcePrimary gap driver
USD 3.68 B Mordor Intelligence-
USD 3.44 B (2024) Global Consultancy AExcludes contract development sales and uses 2024 FX rates without adjustment
USD 3.97 B (2024) Industry Analyst BIncludes softgel shells, inflating totals; model refreshed in 2023
USD 3.19 B (2025) Data Provider CConservative ASP drawn from limited North American quotes; nutraceutical channel omitted

Taken together, the comparison shows that Mordor Intelligence balances clear scope, timely data, and dual validation steps, giving decision-makers a dependable, transparent baseline that can be retraced to concrete variables and repeatable calculations.

Need A Different Region or Segment?
Customize Now

Key Questions Answered in the Report

How fast is the empty capsules market growing through 2031?

The empty capsules market is set to advance at a 7.32% CAGR, lifting revenue from USD 3.95 billion in 2026 to USD 5.62 billion by 2031.

Which capsule type will add the most incremental revenue?

Non-gelatin shells, chiefly HPMC and pullulan, are forecast to expand 10.25% CAGR, outpacing overall market growth thanks to religious compliance and probiotic stability advantages.

Why are nutraceutical brands favoring capsules over tablets?

Capsules require lower minimum orders, avoid costly tablet tooling, and offer superior taste masking, cutting commercialization time by roughly one month for emerging direct-to-consumer labels.

Which region offers the highest growth potential for suppliers?

Asia-Pacific, especially China and India, will post a 10.51% CAGR as global drug makers relocate production to cost-efficient hubs and domestic supplement demand accelerates.

What raw-material constraint could slow the shift to vegetarian shells?

Limited global capacity for pharma-grade HPMC keeps lead times at 16-20 weeks, capping rapid conversion from animal-derived gelatin despite rising vegan and Halal demand.

How are manufacturers defending margins amid gelatin price swings?

Leading suppliers secure multi-source contracts, integrate gelatin production, or pivot to plant-based shells, insulating themselves from raw-material volatility that can compress margins by 200-300 bps.

Page last updated on: