The global microencapsulation market is valued at USD 11.9 billion in 2022 and is projected to reach a value of USD 25.9 billion in 2030 expanding at a CAGR of 10.3% over the forecast period of 2022-2030.
Global Microencapsulation Market– Overview
Microencapsulation is generally defined as a process where the tiny particles or droplets of the active ingredients are surrounded by a coating or embedded in a homogeneous or heterogeneous matrix.
It is generally made of polymeric materials in order to give small capsules that may range from sub-microns to several millimeters in size with many useful properties.
Microencapsulation is used as a delivery system that has proved itself useful in a variety of commercial applications in many areas of industry. Also, the techniques used to produce these capsules range from simple blend operations to complex polymeric coating systems.
Key market trends- Growth determinants and Challenges
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth is the rising demand for functional food products over the forecast period.
The demand for microencapsulation has increased with the growth in demand for functional and fortified food and also pharmaceutical products. These provides integration of minerals, vitamins, flavors, essential oils, and other additives in food products in order to enhance the functional properties of products.
On the flip side, a large number of market players have adopted the microencapsulation technology in various industries where constant R&D is required to sustain in the market. This high cost of R&D resources, along with the processing technology has hindered the market growth over the forecast period.
Also, the development of microencapsulated material is sometimes customized, and at times it is required to be carried out at an industrial scale instead of a pilot scale. This has increased the processing cost of products and ultimately leads to an increase in their cost which has acted as a restrain to the market.
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Segmental analysis of the Market
Based on Application
- Pharmaceutical & healthcare products
- Food & beverages
- Household & personal care products
- Agrochemicals
- Construction material
- Textiles
- Other applications (construction chemicals, inks, energy molecules)
The pharmaceutical and healthcare products segment has dominated the market growth over the forecast period. this is in order to mask the bitter taste or smell in drugs and to provide targeted delivery and controlled delivery.
Based on Technology
- Spray technology
- Dripping technology
- Emulsion technology
- Other technologies (coating, physico-chemical, and chemical technologies.)
The spray technology has dominated the market growth over the forecast period. This is because of the benefits offered that includes high production capacity, high recovery efficiency, the simplicity of the process, cost efficiency, and process safety.
Based on Core Material
- Agricultural inputs
- Food additives
- Pharmaceutical & healthcare drugs
- Fragrances
- Phase change material
- Other core material (defense, and paper & printing.)
The Pharmaceutical & healthcare drugs segment has dominated the market growth over the forecast period.
North America is anticipated to amplify at a considerable CAGR
The global microencapsulation market is segment into North America, Europe, Asia Pacific, Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of the growing demand and awareness about value-added products for various areas such as nutrition, food, healthcare, and personal care.
Competitive Landscape
Some of the prominent companies operating in the market are 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), Ingredion Incorporation (US), Kerry (Ireland), Cargill (US), Firmenich Incorporation (Switzerland), Dupont (US), Aveka Group (US), Advanced Bionutrition Corp (US), Tastetech Encapsulation Solutions (UK), Sphera Encapsulation (Italy), Clextral (France), Vitasquare (Netherlands), and Microtek (US).
Major questions answered in this report
- what is the growth rate of the Global microencapsulation market?
- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
Key takeaways from the report
- The Global microencapsulation market is projected to expand at a CAGR of 10.3% over the forecast period.
- The rising demand for functional food products is aiding market progression.
- The spray technology segment is poised to expand significantly over the forecast period.
- North America has dominated the regional market sphere over the forecast period.
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Report Scope:
Global Microencapsulation Market: Historical Years: 2018-2021
Global Microencapsulation Market: Forecast Years- 2022-2030
Global microencapsulation Market 2022: USD 11.9 billion
Global microencapsulation Market 2030: USD 25.9 billion
Global microencapsulation Market CAGR: 10.3%
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