PUBLISHER: The Insight Partners | PRODUCT CODE: 1597061
PUBLISHER: The Insight Partners | PRODUCT CODE: 1597061
The Europe vegetarian capsules market was valued at US$ 481.73 million in 2023 and is expected to reach US$ 875.20 million by 2031; it is estimated to register a CAGR of 7.7% from 2023 to 2031.
Outsourcing of Vegetarian Capsules Drive Europe Vegetarian Capsules Market
Vegetarian capsule manufacturers have limited production facilities, no specialized equipment to process specialized raw materials, and a limited marketing strategy. However, contract manufacturers procure high capsules, match demand and supply, and have experienced teams and effective product testing. For instance, in October 2020, Lonza announced an investment of US$ 93.23 million in its Capsules and Health Ingredients (CHI) Division, a delivery/contract partner to the biopharma and health nutrition industry. Such investments will enable the company to expand its overall production capacity of capsules within CHI's Capsugel portfolio by procuring 30 billion capsules annually and maintaining high-quality standards with Lonza's Sigma Series. Also, the company mentioned that this investment of procuring 30 billion capsules will address the high growth across CHI's gelatin, vegetarian, and specialty polymers product portfolio as well as the liquid-filled hard capsules sold under the "Licaps" brand. Therefore, the outsourcing of vegetarian capsules is expected to emerge as a trend in the vegetarian capsules market in the coming years.
Europe Vegetarian Capsules Market Overview
According to the Health and Food Supplements Information Service (HSIS) report, in 2019, veganism became more popular in the UK than in any other country. In the UK alone, veganism increased by almost sevenfold between 2014 and 2019. Such a drastic shift of consumers toward veganism is attributed to health conditions, animal welfare concerns, and support for a green environment. Additionally, some consumers started to prefer a vegan diet for weight loss, as animal-derived foods and supplements contain "bad fat."
Further, a primary concern among the UK population regarding plant-based diets was that the complete exclusion of animal-sourced food intake might result in nutritional deficiency. Thus, the UK market witnessed an accelerated consumer demand for dietary supplements to maintain personal health and wellness and tackle nutritional deficiency. The intake of dietary supplements is particularly high among youths aged between 18 and 24 in the UK. As per the PwC 2019 report, 8 out of 10 consumers in the UK consume vitamins and dietary supplements. With the rising consumption of dietary supplements among the UK population, dietary supplement manufacturers are shifting focus toward producing plant-based/vegetarian-based supplements for consumers in the country.
In January 2023, Nutricia (Danone) announced the launch of its first "plant-based, ready-to-drink" oral nutritional supplement, "Fortimel." The new product launch is specifically formulated to meet the nutritional needs of consumers who are malnourished or are at high risk of malnutrition due to illness. The product, initially in 2023, was made available across the Netherlands, Spain, Denmark, Norway, Finland, and the Czech Republic. Later, in 2023, it was made available in other European countries such as the UK, Scotland, and others.
Europe Vegetarian Capsules Market Revenue and Forecast to 2031 (US$ Million)
Europe Vegetarian Capsules Market Segmentation
The Europe vegetarian capsules market is categorized into product, application, functionality, end user, and country.
Based on product, the Europe vegetarian capsules market is segmented hydroxypropyl methylcellulose (HPMC), pullulan, and others. The hydroxypropyl methylcellulose (HPMC) segment held the largest market share in 2023.
In terms of application, the Europe vegetarian capsules market is categorized into antibiotic and antibacterial drug, vitamin and dietary supplement, anti-inflammatory drugs, cardiovascular therapy drugs, antacid and antiflatulent preparation, and others. The antibiotic and antibacterial drug segment held the largest market share in 2023.
By functionality, the Europe vegetarian capsules market is segmented into immediate release capsules, sustained release capsules, and delayed release capsules. The immediate release capsules segment held the largest market share in 2023.
By end user, the Europe vegetarian capsules market is segmented into pharmaceutical companies, nutraceutical companies, contract manufacturing organizations (CMOS), and cosmeceutical companies. The pharmaceutical companies segment held the largest market share in 2023.
By country, the Europe vegetarian capsules market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The UK dominated the Europe vegetarian capsules market share in 2023.
ACG; CapsCanada; Capsugel, Inc (A subsidiary of Lonza Group AG); HealthCaps India; Lefancaps; NATURAL CAPSULES LIMITED; QUALICAPS; Shanxi Guangsheng Medicinal Capsules Co (GS Capsules); BrightCaps GmbH; Sunil Healthcare Limited; Yasin; Zhejiang Honghui Capsule Co., Ltd; and Zhejiang Huili Capsules Co., Ltd. are some of the leading companies operating in the Europe vegetarian capsules market.