At 9.0% CAGR, Asia Pacific Vegetarian Capsules Market is Projected to be Worth US$ 1,476.34 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific vegetarian capsules market was valued at US$ 740.88 million in 2023 and is expected to reach US$ 1,476.34 million by 2031, registering a CAGR of 9.0% from 2023 to 2031. Outsourcing vegetarian capsules, personalization of supplements, and innovative product launches of vegetarian capsules are among the critical factors attributed to drive the Asia Pacific vegetarian capsules market growth.

The personalization of supplements is a growing trend driven by the increasing awareness of individual health needs and preferences. Consumers are seeking tailored nutritional solutions that cater to their specific lifestyles, dietary habits, and health goals. This shift is facilitated by advancements in technology, such as DNA testing and health assessments, which allow for a more precise understanding of personal nutritional requirements.

Vegetarian capsules play a pivotal role in this trend, as they offer versatility in formulation. Brands can create customized blends that incorporate a variety of ingredients, including vitamins, minerals, herbal extracts, and superfoods, all within a plant-based capsule. This not only appeals to consumers looking for vegan options but also ensures that the supplements align with their ethical values.

On the contrary, risks of product recalls hamper the growth of Asia Pacific vegetarian capsules market.

Based on product, the Asia Pacific vegetarian capsules market is segmented hydroxypropyl methylcellulose (HPMC), pullulan, and others. The hydroxypropyl methylcellulose (HPMC) segment held 77.8% market share in 2023, amassing US$ 576.56 million. It is projected to garner US$ 1,139.02 million by 2031 to register 8.9% CAGR during 2023-2031.

In terms of application, the Asia Pacific 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 37.8% share of Asia Pacific vegetarian capsules market in 2023, amassing US$ 279.89 million. It is anticipated to garner US$ 565.22 million by 2031 to expand at 9.2% CAGR during 2023-2031.

By functionality, the Asia Pacific vegetarian capsules market is segmented into immediate release capsules, sustained release capsules, and delayed release capsules. The immediate release capsules segment held 52.7% market share in 2023, amassing US$ 390.63 million. It is projected to garner US$ 749.37 million by 2031 to register 8.5% CAGR during 2023-2031.

By end user, the Asia Pacific vegetarian capsules market is segmented into pharmaceutical companies, nutraceutical companies, contract manufacturing organizations (CMOS), and cosmeceutical companies. The pharmaceutical companies segment held 57.3% market share in 2023, amassing US$ 424.88 million. It is projected to garner US$ 872.05 million by 2031 to register 9.4% CAGR during 2023-2031.

By country, the Asia Pacific vegetarian capsules market is segmented into India, China, Japan, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that India captured 34.6% share of Asia Pacific vegetarian capsules market in 2023. It was assessed at US$ 256.57 million in 2023 and is likely to hit US$ 547.87 million by 2031, registering a CAGR of 9.9% during 2023-2031.

Key players operating in the Asia Pacific vegetarian capsules market are ACG; CapsCanada; Capsugel, Inc (A subsidiary of Lonza Group AG); HealthCaps India; Lefancaps; NATURAL CAPSULES LIMITED; QUALICAPS; Shanxi Guangsheng Medicinal Capsules Co (GS Capsules); SUHEUNG; Sunil Healthcare Limited; Yasin; Zhejiang Honghui Capsule Co., Ltd; and Zhejiang Huili Capsules Co., Ltd., among others.

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