Vegetarian Capsule Materials Market: Introduction

  • Growth in the pharmaceutical industry, increase in research & development activities, and advancements in capsule delivery technologies are some of the major factors driving the global vegetarian capsule materials market
  • Vegetarian capsules possess higher stability than gelatin capsules in different ranges of temperature as well as humidity, due to their lower moisture content and lower hygroscopicity. Vegetarian capsules gets freely dissolved in water at room temperature.
  • Emerging markets such as India, Thailand, and South Korea are expected to present significant opportunities for market players. However, cultural practices and dietary restrictions along with price fluctuations of raw materials are expected to challenge the market to a certain extent during the forecast period.

Key Drivers of Vegetarian Capsule Materials Market

  • Earlier, capsules were made from cellulose for manufacturing solid dosage forms for the pharmaceutical industry. Technological advancements have provided the vegetarian capsules industry with a wide range of functionality options for capsule-based formulations used by patients.
  • Of late, capsule delivery has witnessed a number of technological advancements in terms of product enhancement for better quality outcomes and patient comfort. These include improvement of capsule shells, filler materials, capsule-sealing techniques, and capsule systems to achieve modified drug release and the encapsulation of different materials.
  • Another key technology is the development of capsule-in-capsule technology to protect gastric-sensitive active ingredients. This allows for the use of minimal excipients for formulation, improvement of upper gastrointestinal safety, differentiated pharmacokinetic performance, and improved product development.
  • Technological development in gastro-resistant capsules and modified-release capsules is expected to boost the demand for vegetarian capsules in the pharmaceutical and nutraceutical industries

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Hydroxypropyl Methyl Cellulose (HPMC) Segment to Offer Lucrative Opportunities

  • In terms of revenue, the HPMC segment is estimated to hold significant share of the market during the forecast period. It is anticipated to maintain its attractiveness during the forecast period.
  • Hydroxypropyl methyl cellulose is water soluble, biodegradable, and biocompatible polymer having a wide range of applications in drug delivery, dyes and paints, cosmetics, adhesives, coatings, agriculture, and textiles. HPMC is also soluble in polar organic solvents, making it possible to use both aqueous and non-aqueous solvents.
  • Constant development in the pharmaceutical industry and frequent outbreaks of chronic diseases across the globe are key factors driving the vegetarian capsule materials market

Volatility in Raw Material Prices to Hamper Market

  • Vegetarian capsules are made up of cellulose, an important structural component in plants. The main ingredient of vegetarian capsules is HPMC. Prices of the cellulose are much higher than that of gelatin made capsules. This is expected to hamper the market during the forecast period.

North America to Hold Major Share of Global Vegetarian Capsule Materials Market

  • In terms of region, the global vegetarian capsule materials market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America accounted for a major share of the global vegetarian capsule materials market in 2018. The vegetarian capsule materials market in North America is expanding significantly, primarily due to the presence of key pharmaceutical capsule manufacturers in the region. Increase in importance of superior nutraceutical and cosmetic products is also boosting the demand for vegetarian capsule materials in the region.
  • Asia Pacific was the fastest growing region of the global vegetarian capsule materials market in 2018, owing to the growth in urban population and rise in per capita consumption of pharmaceutical products in the region
  • The market in Europe and Middle East & Africa is anticipated to expand at a significant pace during the forecast period, owing to the rise in importance of dietary supplements across the regions

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Key Players in Market

The global vegetarian capsule materials market is fragmented, with the leading manufacturers accounting for approximately 30% to 40% share. Key players operating in the vegetarian capsule materials market include:

  • ACG Worldwide
  • Bright Pharma Caps, Inc.
  • CapsCanada
  • Capsugel
  • Healthcaps India Ltd.
  • Qualicaps LLC
  • Suheung Co., Ltd.
  • Sunil Healthcare Limited

Global Vegetarian Capsule Materials Market: Research Scope

Global Vegetarian Capsule Materials Market, by Type

  • Hydroxypropyl Methyl Cellulose (HPMC)
  • Pullulan
  • Starch

Global Vegetarian Capsule Materials Market, by Application

  • Antibiotic & Antibacterial Drugs
  • Dietary Supplements
  • Antacid & Anti-flatulent Preparations
  • Anti-anemic Preparations
  • Anti-inflammatory Drugs
  • Cardiovascular Therapy Drugs
  • Cough & Cold Drugs
  • Others

Global Vegetarian Capsule Materials Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Vegetarian Capsule Materials Market

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