Well, 'new' might be a bit of a misnomer; I've seen these for years available even in American toys. I've even still got some Adventure Time and Hello Kitty Capchara still straggling from some old lots of mine. As you can see these wouldn't fit into a normal sized capsule. But I hadn't really seen this type of toy become popular until recently with Bandai seemingly pushing full force into the fun.
Capchara is just Capsule Character mashed into one word. While that name was more accurate when it first came about these days they've gotten really creative. Capchara now means it's a toy, that vends itself. So no capsule is actually involved, the capsule is a part of the toy, so you get something more interactive or a larger character then could have normally been in the machine. Such as these Kirby, or the Adventure Time seen above - the capsule is the head of the toy. When opened the body parts are found inside so your toy comes out larger then what's would fit in the average capsule - seen pictured above.
But, and leave it to Sanrio to take advantage in a heartbeat, the capsule doesn't have to be a head. In the above photo the capsule was a piggy bank. Or in this one that makes a figure/storage container.

All said, Capchara is a great growing toy category and offers things for all ages. But I'd especially seek them out if you've got little ones in tow.
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