Microencapsulation Market:
Growth opportunities in the microencapsulation market look promising over the next six years. This is mainly due to the usage of microencapsulation for a variety of applications such as pharmaceutical & healthcare products, household & personal care, etc., and rising consumer demand for functional products.
Microencapsulation Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmenting functional products demand by consumers, use of microencapsulation for several applications like food & beverages, agrochemicals, and pharmaceutical & healthcare products, along with the worldwide increase in research & development activities are the drivers accelerating the global microencapsulation market. The combination of minerals, flavors, vitamins, and essential oils offered by the microencapsulation in the food products, will further boost the market demand. Surging demand for technology to manufacture cosmo-textiles is expected to benefit market expansion. The altering lifestyle of consumers integrated with a rise in purchasing power will raise the demand for personal products, thereby strengthening the microencapsulation market size.
However, the huge cost associated with the R & D activities, coupled with processing technology, is expected to hamper the microencapsulation market growth. The customized development of microencapsulated has to be carried out on an industrial scale rather than a pilot scale, which increases the processing cost of products.
Application Segment Drivers
Based on the application, healthcare and pharmaceuticals are predicted to witness a higher CAGR during the forecast period. Microencapsulation is also used to restrict drug delivery as they are extensively used to add a bitter taste or smell to drugs and provide targeted and controlled delivery. Therefore, the development of drugs using these biomolecules will fuel the market demand.
Technology Segment Drivers:
Based on the technology, the spray is projected to lead the market over the forecast period primarily due to various benefits offered, which include simplicity of the process, high production capacity, process safety, and cost efficiency. Also, they are widely used in manufacturing large-scale food and pharmaceutical grade microencapsulation, which is further driving the market growth.
Regional Drivers
Based on the regional coverage, Asia-Pacific is anticipated to dominate the market over the coming years. This is because of the rapid urbanization and growing demand for food & beverages in developing countries. The ongoing technological improvements in microencapsulation will contribute to market growth.
Microencapsulation Market’s Leading Manufacturers:
- Balchem Corporation
- Lycored Corp
- Symrise AG
- Koninklijke DSM N.V.
- Syngenta Crop Protection AG
- Koehler Innovative Solutions
- International Flavors & Fragrances Inc.
- Givaudan SA
- Royal (Koninklijke) Frieslandcampina N.V.
- BASF SE
Microencapsulation Market Segmentation:
Segmentation by Technology:
- Spray Technologies
- Emulsion Technologies
- Dripping
- Other Technologies
Segmentation by Core Material:
- Phase Change Materials
- Agricultural Inputs
- Food Additives
- Pharmaceutical & Healthcare Drugs
- Fragrances
- Others
Segmentation by Application:
- Pharmaceutical & Health Care Products
- Food & Beverages
- Household & Personal Care
- Agrochemicals
- Construction
- Textile
- Others (Energy, Defense & Paper)
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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