The global microencapsulation market was valued at USD 6,476.8 million in 2018 and is expected to reach USD 14,475.7 million in 2026, growing at a CAGR of 10.6% during the forecast period.
Microencapsulation is a kind of procedure to protect tiny particles or droplets by a coating material such as polyvinyl alcohol, gelatin, and ethyl cellulose. The microencapsulation is primarily used for food ingredients, enzymes, cells or other materials on a micrometric scale. Moreover, it used to enclose or cover solid, liquid, and gas inside a micrometric wall made of hard or soft soluble film. The microencapsulation is used to reduce dosing frequency and prevent the degradation of pharmaceuticals. Increase in demand for fortified food products with health benefits increased R&D activities for process efficiency, and rise in the development of the pharmaceuticals industry are the main drivers for the global market growth of microencapsulation.
Moreover, the increase in the development of advanced technologies across the end-use industries and government support and rising economy in developing countries is expected to create opportunities in the market for the manufacturers during the forecast period. However, the high cost associated with the manufacturing process is expected to restrain the growth of the microencapsulation in the global market. It is expected that the increase in the R&D activities will results in lower the cost of the association in the entire supply chain.
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The spray segment expected to dominate the market throughout the forecast period Based on technologies, the global microencapsulation market has been segmented into the emulsion, spray, dripping, and others.
The spray segment accounted for more than 25% of the share in the global microencapsulation market in 2018. While emulsion accounted highest CAGR of around 13.5% in the global microencapsulation market during the forecast period owing to rising demand for encapsulating essential oils to protect its flavors and fragrances in the end-use applications such as pharmaceutical and home & personal care.
Based on coating material, the gelatin segment is expected to grow at a CAGR of around 14% throughout the forecast period
Based on coating material, the market has been segmented into polyvinyl alcohol, gelatin, ethylcellulose, and others.
The polyvinyl alcohol coating material segment accounts of the largest share in terms of value in the global microencapsulation market in 2018. While the gelatin coating material segment is expected to hold the CAGR of nearly 14% during the forecast period owing to its finds extensive application in the pharmaceutical, food, and agriculture industries.
Based on application, the pharmaceutical segment is expected to dominant the market during the forecast period Based on application, the market has been segmented into pharmaceutical, home & personal care, food & beverages, agrochemicals, and others.
The pharmaceutical application segment accounts of the largest share in the global microencapsulation market in 2018. The major factors that are driving the growth of this segment are the benefits offered by the technique like particle size reduction to enhance the solubility of the poorly soluble drugs, sustained drug delivery, and cell encapsulation. This expected to widely enhance the growth in the global market and also accounted for the highest CAGR of around 14.5% during the forecast period in the global microencapsulation market.
Europe to dominate the microencapsulation market throughout the forecast period Europe accounted for nearly 31% share of the global microencapsulation market in 2018 and is expected to dominate the throughout the market forecast period owing to the developed pharmaceutical industry and increase investment from the government and domestic leading manufacturers. Asia-Pacific is expected to hold the highest CAGR in the global market during the forecast period.
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The manufacturers are investing in regional countries to meet the demand for the product. The rapid growth in the urbanization and liberalization of foreign direct investment in the pharmaceutical sector are the major driving factor for the region in the global market. The increasing demand for nutritional & healthy products and diversification in the pharmaceutical industry are expected to enhance the market growth in the global microencapsulation market during the forecast.
Company Profiles and Competitive Intelligence:
The major players operating in the global microencapsulation market are
· BASF SE (Germany),
· Royal Friesland Campina N.V. (Netherlands),
· Syngenta Crop Protection (Switzerland),
· Koninklijke DSM (Netherlands),
· Givaudan (Switzerland),
· Firmenich (Switzerland),
· Sensient Technologies (US),
· Lycored Corp. (UK),
· Balchem Corporation (US),
· Koehler Innovative Solutions (Germany).
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