The Global Microencapsulation Market was estimated to be valued at USD 6.3 billion in 2018 and is projected to reach USD 11.8 billion by 2023, at a CAGR of 11.4% from 2018 to 2023. The increasing demand for pharmaceutical & healthcare drugs and agrochemicals such as pesticides, fungicides, and bactericides; active participation of international bodies in the R&D of microencapsulated products, and the increased global demand for functional food products are some of the factors that are driving the market
Browse 87 market data Tables and 48 Figures spread through 202 Pages and in-depth TOC on “Microencapsulation Market by Technology (Spray, Emulsion, Dripping), Core Material (Pharma & Healthcare Drugs, PCM, Food Additives, Fragrances), Application (Pharma, Household, Agrochemicals, Textiles), Shell Material, and Region – Global Forecast to 2023”
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The pharmaceuticals and healthcare drugs segment, by application, is estimated to account for the largest share in 2018
Based on application, the microencapsulation market is segmented into pharmaceutical & healthcare products, household & personal care products, food & beverages, agrochemicals, textiles, construction materials, and others. The pharmaceuticals and healthcare drugs segment is estimated to account for the largest market share in 2018. The rising demand for pharmaceutical drugs is expected to drive the demand for the market.
The emulsion technologies segment, by technology, is estimated to witness the fastest growth in the microencapsulation market in 2018
By technology, the microencapsulation market is segmented into spray technologies, emulsion technologies, dripping technologies, and others. The emulsion technologies segment is projected to record the highest CAGR. The demand for emulsion microencapsulation is increasing due to the simplicity of the process, process safety, and its cost efficiency.
By application, the food & beverage segment is projected to witness the fastest growth during the forecast period.
The food & beverages segment is estimated to grow at the highest CAGR because of multiple applications of microencapsulation in the food industry, where it is used to provide protection and to achieve the desired results of the active ingredients. Some ingredients added for product fortification are encapsulated to mask the odor and taste and to retain the products’ taste. The increasing consumer demand for enhancing shelf-life in functional food products is also driving the food & beverage segment of the microencapsulation market.
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By technology, the emulsion technologies segment is projected to grow at the highest CAGR in the global microencapsulation market during the forecast period.
Based on technology, the microencapsulation market is segmented into spray technologies, emulsion technologies, dripping technologies, and others. The emulsion technologies segment is projected to record the highest CAGR. The emulsion technologies segment includes three major technologies such as in-situ polymerization, coacervation, and sol-gel encapsulation. The demand for emulsion microencapsulation is increasing due to the simplicity of the process, process safety, and its cost efficiency.
Asia Pacific is projected to be the fastest-growing region in the microencapsulation market, due to an increase in the demand for microencapsulated construction materials and rise in the consumption of fortified food & beverage products.
The demand for microencapsulation for value-added functions is propelled by its increasing applications in various industries such as nutrition & pharmaceutical, food & beverage, personal care, and cosmetic. The technological developments in Asia Pacific countries, due to the developing infrastructure, have presented a potential scope for the automation of microencapsulation, as well as for improving its cost-effectiveness and output. Thus, there is a strong demand for microencapsulated materials from food & beverage manufacturers, pharmaceutical manufacturers, and textile and construction material manufacturers in this region.
Key Market Players
The key players profiled in the microencapsulation market include BASF (Germany), Royal FrieslandCampina (Netherlands), Syngenta Crop Protection (Switzerland), Koninklijke DSM (Netherlands), Givaudan (Switzerland), Firmenich (Switzerland), Symrise (Germany), International Flavors & Fragrances (US), Sensient Technologies (US), Lycored Corp. (UK), Balchem Corporation (US), Encapsys (US), Arcade Beauty (US), and Koehler Innovative Solutions (Germany). These companies are focusing on strategies such as new product launches, expansions & investments, acquisitions, agreements, collaborations, joint ventures, and partnerships to expand their operations across the globe.
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