Vegetarian Capsules Market - Global Industry Analysis

Vegetarian Capsules Market By Product Type (Pullulan, Starch, HPMC) And End-User Industry (Pharmaceutical Companies, Nutraceutical Companies, CMO’s And Cosmetic Companies): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 23-Apr-2021 Category: Pharmaceutical Report Format : PDF Pages: 110 Report Code: ZMR-2244 Status : Published

The global vegetarian capsules market accounted for USD 396.71 Million in 2020 and is expected to reach USD 722.70 Million by 2028, growing at a CAGR of 8.2 % from 2021 to 2028.

Description

Market Overview

The global vegetarian capsules market accounted for USD 396.71 Million in 2020 and is expected to reach USD 722.70 Million by 2028, growing at a CAGR of 8.2 % from 2021 to 2028.

Capsules are two piece enclosures commonly made of gelatin. Vegetarian capsules are which contain plant based compounds and free of animal derivatives of any kind. Vegetarian capsules are free of any modified sugar form and contain vegetable cellulose forms if needed. Vegetarian capsules are preferred supplement over animal supplement by those who do not prefer animal products.

The growing concern for healthy body is one of the key market drivers. These capsules are rapidly absorbed by our digestive system. Vegetarian capsules are takes as supplement for vital mineral or vitamins which our day to day lifestyle fails to provide. These capsules are said to be free of any carcinogenic substance as they are plant based. These capsules are used by sports persons, body builders, athletes, etc. Increase in adaption of vegetarian lifestyle is also one of the key market drivers.

COVID-19 Impact Analysis

The global vegetarian capsules market has witnessed an increase in the sales for short term owing to the urgent need of vitamins and minerals to lower the fatality rate due to COVID. Supplement of Vitamins sales were rocketed due spread of news that these help you recover faster if COVID positive. Thaw the manufacturing was hampered during early lockdown phase but was later allowed due to its growing demand. The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the world markets are slowly opening to their full potential and theirs a surge in demand of Vegetarian Capsules. The market would remain bullish in upcoming year.

Growth Factors

Vegetarian capsules improve immune system to fight against any foreign object in our body which is why people are attracted towards it. More people are adapting healthy lifestyle and these capsules help them with essential vitamins and minerals. These capsules are recommended by medical professionals, nutritionist experts to their clients to fulfill body requirements. Vegan people are one of the key market drivers.

Vegetarian capsules do not have many side effects compared to animals based supplement. Absence of accessibility to good and essential variety of food which provides basic need for smooth functioning of the human body has lead people to look out for cheaper options to aid themselves for these capsules. Uses of Vegetarian based products are extensive in medicine research. Cosmetics are also prepared using Vegetarian based products.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Product Type Segment Analysis Preview

HPMC (Hydroxypropyl methylcellulose) segment held a share of around 36.95% in 2020. HPMC is the most common vegetable cellulose and have trace amount is most of Vegetarian capsules. HPMC is extracted mainly from bark of some tree like pine or spruce tree. Vegetarian capsules are pure as they do not contain even trace amount of animal byproducts, it’s solely plant based therefore it is preferred by many. This segments growth is attributable to the significant increase in demand for such products for consumption. This segment is going to see largest increase because of above factor.

Pullulan is another important component of vegetarian capsule. It is chemical compound obtained from water extracted from fungi that grow on starch substances. This is also pure and no other chemicals are added in the process.

End User Industry Segment Analysis Preview

Pharmaceutical Companies in end use segment will grow at a CAGR of over 9.6% from 2021 to 2028. This is attributable to the number of products launched by various companies in order to lure more and more customers. Pharmaceutical Companies is the largest purchaser of Vegetarian cellulose as they use them in other medicine making process.

Nutraceutical are any substances that are part of food that provide medicinal or health benefits. Most of the Pharmaceutical Companies use plant based nutraceutical to either prevent of treat a disease.

Cosmetic making companies use these plant based nutraceutical to make different products because its rich in chemical compounds which are useful in making various type of cosmetic products. Thaw they are mixed with animal byproducts but some products offer solely plant based cosmetic products.

Regional Analysis Preview

The North American region held a share of about 31.21% in 2020. This is attributable to the presence of top companies such as Aenova, Ayanda, Captek, Catalent, EuroCaps among others. Moreover, the increasing usage of vegetarian capsule expected to generate huge demand for the market in this region. North America is the largest market for vegetarian capsule. This is due to their advanced researches and application in this field.

The Asia Pacific region is projected to grow at a CAGR of 8.8% over the forecast period. This surge is due to the increasing awareness among common people regarding the benefits of using vegetarian capsule. APAC region is also one of the major markets of vegetarian capsule as the huge population has to be feed and basic needs of people in country like India, China are not fissile for everybody, so they use these capsules to aid for the vitamins and mineral needs.

Key Market Players & Competitive Landscape

Some of key players in vegetarian capsule market are Aenova, Ayanda, Bahrain Pharma, Best Formulations, Captek, Catalent, EuroCaps, Procaps Laboratories, Robinson Pharma, SIRIO, Medgel, neclife, etc. among others. 

In April 2021, smartypants announced new Multi Capsule products to provide most innovative and nutritionally comprehensive supplements.

The global vegetarian capsule market is segmented as follows:

By Product Type

  • Pullulan
  • Starch
  • HPMC

By End User Industry

  • Pharmaceutical Companies
  •  Nutraceutical Companies
  • CMO’s And Cosmetic Companies

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Product Type
        • 2.1.1.2. Market Attractiveness Analysis, By End User Industry
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Vegetarian capsules Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Vegetarian capsules Market – Product Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Product Type, 2020 & 2028
    • 4.2. Pullulan
      • 4.2.1. Market Size and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Starch
      • 4.3.1. Market Size and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. HPMC
      • 4.4.1. Market Size and Forecast, By Region (USD Million)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Vegetarian capsules Market – End User Industry Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End Use Industry, 2020 & 2028
    • 5.2. Pharmaceutical Companies
      • 5.2.1. Market Size and Forecast, By Region (USD Million)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Nutraceutical Companies
      • 5.3.1. Market Size and Forecast, By Region (USD Million)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. CMO’s And Cosmetic Companies
      • 5.4.1. Market Size and Forecast, By Region (USD Million)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Vegetarian capsules Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.2.2. North America Market Revenue, By Product Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By End Use Industry, 2016 – 2028
      • 6.2.4. U.S.
        • 6.2.4.1. U.S. Market Revenue, By Product Type, 2016 – 2028
        • 6.2.4.2. U.S. Market Revenue, By End Use Industry, 2016 – 2028
      • 6.2.5. Canada
        • 6.2.5.1. Canada Market Revenue, By Product Type, 2016 – 2028
        • 6.2.5.2. Canada Market Revenue, By End Use Industry, 2016 – 2028
      • 6.2.6. Mexico
        • 6.2.6.1. Mexico Market Revenue, By Product Type, 2016 – 2028
        • 6.2.6.2. Mexico Market Revenue, By End Use Industry, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.3.2. Europe Market Revenue, By Product Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.4. Germany
        • 6.3.4.1. Germany Market Revenue, By Product Type, 2016 – 2028
        • 6.3.4.2. Germany Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.5. France
        • 6.3.5.1. France Market Revenue, By Product Type, 2016 – 2028
        • 6.3.5.2. France Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.6. U.K.
        • 6.3.6.1. U.K. Market Revenue, By Product Type, 2016 – 2028
        • 6.3.6.2. U.K. Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.7. Italy
        • 6.3.7.1. Italy Market Revenue, By Product Type, 2016 – 2028
        • 6.3.7.2. Italy Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.8. Spain
        • 6.3.8.1. Spain Market Revenue, By Product Type, 2016 – 2028
        • 6.3.8.2. Spain Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.9. Rest of Europe
        • 6.3.9.1. Rest of Europe Market Revenue, By Product Type, 2016 – 2028
        • 6.3.9.2. Rest of Europe Market Revenue, By End Use Industry, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.4.2. Asia Pacific Market Revenue, By Product Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.4. China
        • 6.4.4.1. China Market Revenue, By Product Type, 2016 – 2028
        • 6.4.4.2. China Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.5. Japan
        • 6.4.5.1. Japan Market Revenue, By Product Type, 2016 – 2028
        • 6.4.5.2. Japan Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.6. India
        • 6.4.6.1. India Market Revenue, By Product Type, 2016 – 2028
        • 6.4.6.2. India Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.7. South Korea
        • 6.4.7.1. South Korea Market Revenue, By Product Type, 2016 – 2028
        • 6.4.7.2. South Korea Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.8. South-East Asia
        • 6.4.8.1. South-East Asia Market Revenue, By Product Type, 2016 – 2028
        • 6.4.8.2. South-East Asia Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.9. Rest of Asia Pacific
        • 6.4.9.1. Rest of Asia Pacific Market Revenue, By Product Type, 2016 – 2028
        • 6.4.9.2. Rest of Asia Pacific Market Revenue, By End Use Industry, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.5.2. Latin America Market Revenue, By Product Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By End Use Industry, 2016 – 2028
      • 6.5.4. Brazil
        • 6.5.4.1. Brazil Market Revenue, By Product Type, 2016 – 2028
        • 6.5.4.2. Brazil Market Revenue, By End Use Industry, 2016 – 2028
      • 6.5.5. Argentina
        • 6.5.5.1. Argentina Market Revenue, By Product Type, 2016 – 2028
        • 6.5.5.2. Argentina Market Revenue, By End Use Industry, 2016 – 2028
      • 6.5.6. Rest of Latin America
        • 6.5.6.1. Rest of Latin America Market Revenue, By Product Type, 2016 – 2028
        • 6.5.6.2. Rest of Latin America Market Revenue, By End Use Industry, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Product Type, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By End Use Industry, 2016 – 2028
      • 6.6.4. GCC Countries
        • 6.6.4.1. GCC Countries Market Revenue, By Product Type, 2016 – 2028
        • 6.6.4.2. GCC Countries Market Revenue, By End Use Industry, 2016 – 2028
      • 6.6.5. South Africa
        • 6.6.5.1. South Africa Market Revenue, By Product Type, 2016 – 2028
        • 6.6.5.2. South Africa Market Revenue, By End Use Industry, 2016 – 2028
      • 6.6.6. Rest of Middle-East Africa
        • 6.6.6.1. Rest of Middle-East Africa Market Revenue, By Product Type, 2016 – 2028
        • 6.6.6.2. Rest of Middle-East Africa Market Revenue, By End Use Industry, 2016 – 2028
  • Chapter No. 7 Vegetarian capsules Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8 Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Vegetarian capsules Market: Company Market Share, 2019
      • 8.1.2. Global Vegetarian capsules Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 8.1.3. Global Vegetarian capsules Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Vegetarian capsules Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9 Company Profiles
    • 9.1. Aenova
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Ayanda
    • 9.3. Bahrain Pharma
    • 9.4. Best Formulations
    • 9.5. Captek
    • 9.6. Catalent
    • 9.7. EuroCaps
    • 9.8. Procaps Laboratories
    • 9.9. Robinson Pharma
    • 9.10. SIRIO
    • 9.11. Medgel
    • 9.12. neclife
  • Chapter No. 10 Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11 Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Table Of Figures

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Product Type
FIG NO. 2. Market Attractiveness Analysis, By End Use Industry
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Vegetarian capsules Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Product Type, 2020 & 2028
FIG NO. 7. Global Vegetarian capsules Market for Pullulan, Revenue (USD Million) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Vegetarian capsules Market for Pullulan, By Country, 2020 & 2028
FIG NO. 9. Global Vegetarian capsules Market for Starch, Revenue (USD Million) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Vegetarian capsules Market for Starch, By Country, 2020 & 2028
FIG NO. 11. Global Vegetarian capsules Market for HPMC, Revenue (USD Million) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Vegetarian capsules Market for HPMC, By Country, 2020 & 2028
FIG NO. 13. Market Revenue Share, By End Use Industry, 2020 & 2028
FIG NO. 14. Global Vegetarian capsules Market for Pharmaceutical Companies, Revenue (USD Million) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Vegetarian capsules Market for Pharmaceutical Companies, By Country, 2020 & 2028
FIG NO. 16. Global Vegetarian capsules Market for Nutraceutical Companies, Revenue (USD Million) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Vegetarian capsules Market for Nutraceutical Companies, By Country, 2020 & 2028
FIG NO. 18. Global Vegetarian capsules Market for CMO’s And Cosmetic Companies, Revenue (USD Million) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Vegetarian capsules Market for CMO’s And Cosmetic Companies, By Country, 2020 & 2028
FIG NO. 20. Global Vegetarian capsules Market Revenue Share, By Region, 2020 & 2028
FIG NO. 21. North America Vegetarian capsules Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 22. Porter’s Five Forces Analysis for Global Vegetarian capsules Market
FIG NO. 23. PEST Analysis for Global Vegetarian capsules Market
FIG NO. 24. Pricing Analysis for Global Vegetarian capsules Market
FIG NO. 25. Value Chain Analysis for Global Vegetarian capsules Market
FIG NO. 26. Company Share Analysis, 2019
FIG NO. 27. Radar Determinant Chart, 2019
FIG NO. 28. Company Strategic Developments – Heat Map Analysis
FIG NO. 29. Aenova Business Segment Revenue Share, 2020 (%)
FIG NO. 30. Aenova Geographical Segment Revenue Share, 2020 (%)
FIG NO. 31. Market Channels
FIG NO. 32. Marketing Channel Development Trend
FIG NO. 33. Growth in World Gross Product, 2008-2018
FIG NO. 34. Research Methodology – Detailed View
FIG NO. 35. Research Methodology


Table Of Tables

List of Tables 

TABLE NO. 1. Global Vegetarian capsules Market: Snapshot
TABLE NO. 2. Quarterly Vegetarian capsules Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Vegetarian capsules Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Vegetarian capsules Market for Pullulan, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Vegetarian capsules Market for Starch, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Vegetarian capsules Market for HPMC, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Vegetarian capsules Market for Pharmaceutical Companies, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. Global Vegetarian capsules Market for Nutraceutical Companies, by Region, 2016 – 2028 (USD Million)
TABLE NO. 11. Global Vegetarian capsules Market for CMO’s And Cosmetic Companies, by Region, 2016 – 2028 (USD Million)
TABLE NO. 12. Global Vegetarian capsules Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 13. North America Vegetarian capsules Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 14. North America Vegetarian capsules Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 15. North America Vegetarian capsules Market Revenue, By End Use Industry, 2016 – 2028 (USD Million)
TABLE NO. 16. U.S. Vegetarian capsules Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 17. U.S. Vegetarian capsules Market Revenue, By End Use Industry, 2016 – 2028 (USD Million)
TABLE NO. 18. Canada Vegetarian capsules Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 19. Canada Vegetarian capsules Market Revenue, By End Use Industry, 2016 – 2028 (USD Million)
TABLE NO. 20. Mexico Vegetarian capsules Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 21. Mexico Vegetarian capsules Market Revenue, By End Use Industry, 2016 – 2028 (USD Million)
TABLE NO. 22. Drivers for the Vegetarian capsules Market: Impact Analysis
TABLE NO. 23. Restraints for the Vegetarian capsules Market: Impact Analysis
TABLE NO. 24. Major Buyers of Vegetarian capsules
TABLE NO. 25. Distributors/Traders List of Vegetarian capsules
TABLE NO. 26. Global Vegetarian capsules Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 27. Global Vegetarian capsules Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Vegetarian Capsules market. Zion Research has collected and analyzed key data belong to the global Vegetarian Capsules market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Vegetarian Capsules across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Vegetarian Capsules industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Vegetarian Capsules market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Vegetarian capsules are derived from vegetable cellulose. They are natural and contain no preservatives, gelatin, wheat, gluten, animal by-products, and they are made from the pure cellulose of either pine or poplar. Vegetarian capsules are rapidly being used as an alternative to hard shell gelatin capsules since these natural capsules meet the dietary and cultural needs of vegetarians by offering excellent alternatives to gelatin capsules. Cellulose is the preferred capsule base for substances that have more of a semi solid or gel composition. These capsules are often considered suitable to be classified as both Kosher and Halal certified products which open the option for a larger customer base. Additionally, vegetarian capsules have no known potential health risks, even when consumed in a long term scenario as they are 100% natural and non-toxic.

Consumers in developing regions have higher spending power and thus the ability to allocate more funds towards preventative healthcare. Also besides the pharmaceutical and nutraceutical industries, the demand for encapsulated ingredients is on the rise in cosmeceutical sector. These end-user trends have a far-reaching influence on the growth of the global vegetarian capsules market. The market is also primarily driven by factors like vegetarian capsules are regarded as a convenient method of consuming health medication. Furthermore, in developing markets of Asia Pacific, where the majority of vegetarian consumers view animal-derived gelatin in a negative light, companies face the need to find solutions around the problem by focusing more on non-gelatin based capsules.

Based on product type, vegetarian capsules market has been segmented into pullulan, starch, and HPMC. HPMC capsule market is further sub-segmented into HPMC capsules with gelling aid and HPMC capsules without gelling aid. The HPMC capsules segment is expected to grow at the fastest rate during the forecast period. Based on end-user the vegetarian capsules market is segmented into pharmaceutical companies, nutraceutical companies, CMO’s and cosmetic companies. In terms of revenue, nutraceutical segment dominated the market in 2016.  

North America is expected to remain the dominant region over the forecast period. Increasing healthcare expenditure is expected to boost the market in this region. Europe was the second largest market followed by Asia Pacific. North America is expected to show fastest growth rate during the forecast period while Asia Pacific market is projected to grow at the highest rate. The Middle East and Africa, and Latin America are also expected to experience a moderate growth rate in the coming years.

Some of the key players in vegetarian capsules market include ACG Worldwide, Bright Pharma Caps, Inc., CapsCanada, Capsugel, Healthcaps India Ltd., Qualicaps LLC, Suheung Co., Ltd. and Sunil Healthcare Limited. Investments in R&D and new manufacturing units for vegetarian capsules in economically stable countries and acquisitions and collaborations with manufacturers in different regions are other key differentiating strategies of the leading market players.

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FrequentlyAsked Questions

The global vegetarian capsules market was valued at USD 396.71 Million in 2020.

The global vegetarian capsules market is expected to reach USD 722.70 Million by 2028, growing at a CAGR of 8.2% between 2021 to 2028.

Some of the key factors driving the global vegetarian capsules market growth are capsules are rapidly absorbed by our digestive system. Vegetarian capsules are takes as supplement for vital mineral or vitamins which our day to day lifestyle fails to provide.

North America region held a substantial share of the vegetarian capsules market in 2020. This is attributable to increasing usage of Vegetarian capsule expected to generate huge demand for the market in this region. North America is the largest market for Vegetarian capsule. This is due to their advanced researches and application in this field.

Some of the major companies operating in the vegetarian capsules market are Aenova, Ayanda, Bahrain Pharma, Best Formulations, Captek, Catalent, EuroCaps, Procaps Laboratories, Robinson Pharma, SIRIO, Medgel, neclife, etc. among others.

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