The empty capsules industry was estimated to be worth $3.2B in 2023 and is poised to reach $4.9B by 2028, growing at a CAGR of 9.3% from 2023 to 2028, according to a new report by MarketsandMarkets™. Factors such as rising R&D activities in empty capsules and increasing use of nutraceuticals are driving the growth of this market. However, dietary restrictions and cultural practices are the major factors restraining the growth of this market.
The increasing awareness about health and wellness among consumers is likely to drive the demand for empty capsules. Manufacturers are expected to focus on developing innovative products in order to meet the growing needs of consumers. In addition, the growing penetration of online retail channels is likely to further boost the growth of the empty capsules industry. Governments in various countries are also likely to provide financial support to manufacturers in order to encourage them to develop new products. These factors are likely to contribute to the growth of the empty capsules industry in the near future.