Wilmington, Delaware, United States, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global halal and kosher empty capsules market is estimated to rise from its initial value of US$ 1.4 Bn in 2021 and cross the value of US$ 2.9 Bn by 2031. The market is anticipated to expand at a CAGR of 8% during the 2022 – 2031 forecast period. Increasing emphasis on preventive healthcare coupled with the growing prevalence of various chronic diseases that creates the need for consistent medical and pharmaceutical interventions strengthens demand. Along with this, increasing demand for high quality capsule products that feature higher rate of absorption, and are biodegradable in nature, is also driving market expansion.
Halal and Kosher Empty Capsules Market – Key Findings of the Report
- Growing demand for Gelatin-based Capsules: According to the halal and kosher empty capsules market research, one of the most influential drivers for market growth is the rising demand for gelatin capsules. While adhering to both halal and kosher dietary guidelines, gelatin-based products feature various benefits such as offering protection for both lipophilic, as well as hydrophilic drug formulations. They also offer enhanced absorption rates and act as an effective solubilizing matrix. Furthermore, gelatin-based products also provide the medium for sustained release of various types of drugs and feature higher water dispersion ability.
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Halal and Kosher Empty Capsules Market – Growth Drivers
- Increasing awareness for kosher and halal and products among Jewish and Islamic population respectively, stirs demand for halal empty capsules
- Rising demand from highly religious populations from regions such as Middle East and Africa, and Europe propels market growth
- Growing demand for halal nutraceutical products from non-Muslim individuals, owing to their higher quality control standards and ethical production methods bolsters market development
Halal and Kosher Empty Capsules Market – Key Players
Some of the leading companies and manufacturers operating in the global halal and kosher empty capsules market include CapsCanada, Farmacapsulas S.A, Lefancaps, Qualicaps, ACG, Erawat Pharma Limited, Healthcaps, and Lonza. The competitive landscape of market is considerably fragmented, due to the presence of a large number of both – regional and multi-national players. The manufacturers are focusing on introducing new and innovative products in a bid to cater to exact needs of their end users. Key strategies adopted by leading market players to increase their industry share and generate more revenue include research and development, mergers and acquisitions, and strategic collaborations with other players.
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Halal and Kosher Empty Capsules Market: Regional Growth Assessment
According to the global halal and kosher empty capsules market analysis, the regional industry of Europe is anticipated to lead among other key regions of the market over the next decade. Key drivers boosting development of the Europe market include presence of a large number of leading vendors and manufacturers in the region, as well as rapid and early adoption of novel medical and manufacturing technologies by regional players. Furthermore, growing demand from the regional nutraceuticals, as well as pharmaceutical industries is also driving growth of the Europe market.
North America accounts for a considerable share of the global industry. Rising market demand for halal and kosher empty capsules in North America region can be ascribed to factors such as the presence of a large number of well-trenched pharmaceutical players in the region, and increasing demand for halal vaccines and nutraceuticals from the population in the region. In the next decade, regional market of Middle East and Africa is also expected to record considerable growth. This trend can be attributed to increasing prevalence of various health conditions, increasing demand for halal products, and growing healthcare spending by customers in the region.
Halal and Kosher Empty Capsules Market: Segmentation
Halal and Kosher Empty Capsules Market, by Type
- Gelatin Capsules
- Vegetarian Capsules
- Enteric Capsules
Halal and Kosher Empty Capsules Market, by End-user
- Food Supplements/Nutraceuticals
- Pharmaceuticals & Biopharmaceuticals
- Others
Halal and Kosher Empty Capsules Market, by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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