Liquid-Filled Capsule Market Size, Share, and Industry Analysis, By Product (Hardgel Capsules and Softgel Capsules), By Material (Hydroxypropyl Methylcellulose (HPMC), Gelatin, and Others), By Application (Dietary Supplements and Drugs), By Functionality (Immediate Release, Sustained Release, and Delayed Release), By End User (Pharmaceutical Companies, Nutraceutical Companies, and Others), and Regional Forecast till 2032

The global liquid-filled capsule market is witnessing significant growth owing to the increasing preference for dietary supplements, among others, resulting in R&D activities to develop and introduce innovative dietary supplements and drugs. Liquid-filled capsules are hard-filled or soft-filled capsules that protect drug compounds and produce a stable dosage form.

• According to a 2022 survey published by the National Center for Biotechnology Information (NCBI), about 38.9% of participants used dietary supplements amongst 10,129 respondents in Japan.

Liquid Filled Capsule Market Driver

Increasing Demand for Dietary Supplements to Drive Market Growth

The increasing focus of the general population on health is resulting in the rising demand for dietary supplements and others in the market. In addition, key players are focusing on research and development activities to launch novel liquid-filled capsules to cater to the growing demand, further driving the market growth.

• According to 2023 data published by The Council for Responsible Nutrition (CRN), it was reported that three-quarters of Americans take dietary supplements in the U.S.

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According to data published by the European Federation of Pharmaceutical Industries and Associations (EFPIA), it was reported that the R&D expenditure was USD 77,336.6 million in the U.S., USD 50,876.6 million in Europe, USD 11,215.4 million in Japan, and USD 16,035.7 million in China.

Liquid Filled Capsule Market Restraint

High Costs Associated with Liquid-Filled Capsules to Hinder Market Growth

There is a growing demand for novel liquid filled capsules in the market. However, the rising cost of capsule-filling machines among healthcare companies is further increasing the cost of these liquid-filled capsules, hampering the adoption of these products in the market.

• According to 2024 statistics published by the LabX Media Group, the new capsule filling machine ranges from USD 15,000 to USD 150,000 depending upon their capacity.

Thus, the high cost associated with these capsule-filling machines is likely to limit the adoption rate of the liquid-filled capsules.

Liquid Filled Capsule Market Opportunity

Rising Engagement of Key Companies in R&D Initiatives to Fuel Future Market Expansion

The growing demand for therapeutic drugs and dietary supplements is resulting in increasing research and development initiatives among the prominent players to introduce novel liquid-filled capsules.

• In July 2023, Zeon Lifesciences launched liquid-filled capsules, which offers a unique delivery system, including enhanced bioavailability and absorption rates.

Segmentation

Key Insights

The report covers the following key insights:

• Overview: Technological Advancements in Liquid Filled Capsules
• New Product Launches, By Key Players
• Key Industry Developments (Mergers, Acquisitions, and Partnerships)
• Impact of COVID-19 on the Market

Analysis by Product

In terms of product, the market is fragmented into hardgel capsules and softgel capsules.

The softgel capsules segment held a significant market share in 2023. The growing focus of key players on R&D activities to launch novel excipients for softgel liquid-filled capsules supports the growing number of product launches, driving segment growth.

• In May 2024, Roquette Pharma Solutions, one of the providers of pharmaceutical and nutraceutical excipients, launched LYCAGEL Flex hydroxypropyl pea starch premix for nutraceutical and pharmaceutical softgel capsules in the market.

Analysis by Material

On the basis of material, the market is subdivided into hydroxypropyl methylcellulose (HPMC), gelatin, and others.

The gelatin segment accounted for a substantial market share in 2023. The segmental growth is due to the rising benefits of gelatin, such as its low cost, biodegradability, and easy availability, among others, further driving the focus of key players toward R&D activities to launch new liquid-filled capsules.

• In May 2022, Lonza expanded its Capsugel capsule offering with a titanium dioxide-free white hard gelatin capsule with an aim to fulfill the growing demand among nutraceutical companies in Europe.

Analysis by Application

On the basis of application, the market is categorized into dietary supplements and drugs.

The dietary supplements segment held a dominating share in the market in 2023. The increasing preference of the general population toward dietary supplements is resulting in the growing focus of prominent players on R&D activities to launch liquid filled capsules for the manufacturing of these dietary supplements. These aspects are expected to drive the segment growth.

• According to the 2022 New Zealand Trade & Enterprise, approximately 43.5% of people take dietary supplements daily in Australia.

Analysis by Functionality

As per functionality, the market is subdivided into immediate release, sustained release, and delayed release.

The immediate release segment held a prominent market share in 2023. The increasing demand for immediate-release liquid-filled capsules for the manufacturing of therapeutic drugs is resulting in growing R&D activities to launch novel capsules.

• According to June 2022 article published by Nitta Gelatin Ltd., it was reported that immediate release capsules are mostly preferred for the treatment of wide range of diseases among the patient population.

Analysis by End User

Based on end user, the market is subdivided into pharmaceutical companies, nutraceutical companies, and others.

The pharmaceutical companies segment dominated the market in 2023. The growth is due to the rising number of pharmaceutical companies, further contributing to the increasing number of R&D activities globally. The rising number of R&D activities is supporting the surge in the demand for liquid-filled capsules, thereby contributing to segmental growth.

• According to 2023 statistics published by Cross River Therapy, it was reported that there are over 5,000 pharmaceutical companies in the U.S. Thus, the growing number of pharmaceutical companies is expected to augment the R&D activities, contributing to the segmental growth.

Regional Analysis

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Based on region, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America accounted for the largest share of the global liquid-filled capsule market in 2023. The growth is owing to several factors, including the soaring prevalence of acute and chronic disorders, growing preference toward dietary supplements, developed healthcare infrastructure, and increasing R&D activities, among others.

• According to 2023 data published by Cross River Therapy, the pharmaceutical industry spends over USD 60.0 billion on research and development activities in the U.S.

Additionally, Europe is the second-largest market for liquid-filled capsules. The rising geriatric population is resulting in the increasing prevalence of acute and chronic disorders, such as cardiovascular disorders, among others, further contributing to the demand for innovative drugs and dietary supplements. In addition, the rising focus of key players on inorganic growth strategies such as an expansion of their geographical presence, among others, is further likely to support the regional market growth.

• According to 2024 data published by the British Heart Foundation, around 7.6 million people are living with cardiovascular disorders in the U.K.

The Asia Pacific market is also expected to grow with a considerable CAGR during the forecast period. The growth is due to the rising number of key players operating in the market offering novel liquid-filled capsules.

Key Players Covered

The market is semi-consolidated, with few players operating in the global market.

The report includes the profiles of the following key players:

• Lonza (Switzerland)
• Zeon Lifesciences (India)
• CapsCanada (U.S.)
• ACG (India)
• Lefancaps (Canada)
• Qualicaps (U.S.)
• Biovencer Healthcare Pvt Ltd. (India)
• GoCaps GmbH (Germany)

Key Industry Developments

• In September 2024, Evonik launched EUDRACAP colon functional ready-to-fill capsules for the targeted delivery of oral drugs with an aim to strengthen its product offerings.
• In March 2021, CapsCanada, one of the providers of capsule technology, established a new manufacturing service facility with an aim to support the manufacturing process for liquid filled capsules globally.