Global Microencapsulation Market Envisioned to Grow Exponentially till 2029 End

  • 31 Jul 2019
  • Chemicals & Advanced Materials

Global microencapsulation market value over USD 21 billion by 2029 end and register a CAGR of over 13% from 2019 to 2029. 

Growing acceptance of microencapsulated materials in agrochemical and food & beverage has stimulated the market. Hefty investment in R&D with an aim to improve efficiency of technology remains a key factor behind the growth of the market. Rapid adoption of technology among medium and small scale end users is expected to inflate the market. Rising deployment of technology in pharmaceutical industry is boosting the market as well. Rise in disposable income alongside changing lifestyle is also elevating the usage of personal care product which in turn is inflating the market.

The market is segmented into coating material, technology, application and region. Based on coating material, carbohydrates is currently in most demand. Carbohydrates consists of chitosan, cyclodextrin, corn syrup, maltodextrin and starch. Efficient solubility offered by these products alongside it's long term sustainability in volatile environment is expected to positively influence the market. Polymers are expected to witness significant growth during the forecast period. Polymer extensively utilized in products and is approved by the FDA.

In terms of technology, spray technology is expected to dominate the market during the forecast period. Spray technology offers high penetration in encapsulation of flavors, fragrances and food ingredients. It offers high encapsulation efficiency, good stability and quick processing at economical cost. Such factors have increased the demand of the spary technology, thus elevating the market.

In terms of application, Personal care and pharmaceutical sector is expected to dominate the market. Multiple pharmaceutical companies use microencapsulation to mask bitter smell of drugs alongside providing controlling and targeted delivery.

Personal care industry uses microencapsulation to abbreviate essential oils, colors and fragrances in cosmetic products. Increasing demand of essential oils in fragrance industry is inflating the market. Food and beverages industry is also expected to witness growth during the forecast period. Rising consumer preference towards healthy lifestyle has led to increase in nutritional ingredient in food products, thus driving the growth of the microencapsulation market.

In terms of region, North America is the global leader of the market. The rapid demand alongside rising awareness of nutrition, food and personal care has positively influenced the market in the region. Advancement of technologies is also fueling the growth of the market in the region. Recent mergers and acquistions have also boosted the presence of the market in the region. Balchem Corporation acquired Bioscreen Technologies in 2018. The acquistion was instrumental in fueling the growth of animal nutrition.

Asia-Pacific is also expected to showcase growth. Favourable government policies coupled with rapid expansion of food & beverages and pharmaceutical industry has resulted in expansion of the market. FDI in emerging economies like India played a crucial role in expanding healthcare industry in the region. 

Prominent players of the market are Capsulae, LycoRed Group  ,BASF SE  ,GAT Microencapsulation GmbH ,Balchem ,Bayer AG ,Evonik Industries AG ,Ronald T. Dodge Co. ,TasteTech Ltd. ,InnoBio Limited ,Microtek Laboratories, Inc. ,Dow Corning Corporation ,Reed Pacific Pty Ltd. ,AVEKA Group ,The 3M Company ,Lipo Technologies (Vantage)  ,Encapsys LLC.

Global Microencapsulation Market Segmentation

1. By Coating Material

  • Carbohydrates
  • Gums & Resins
  • Lipids
  • Polymers
  • Proteins

2. By Technology  

  • Dripping
  • Emulsion
  • Spray

3. By Application

  • Pharmaceutical 
  • Food Additives 
  • Agrochemicals 
  • House & Personal care Products 
  • Others  

4. By Region

  • North America
  • Latin America
  • Europe
  • Asia-Pacific
  • Rest of the World

Competitive Landscape:

  • Tier 1 players- established companies in the market with a major market share
  • Tier 2 players
  • Emerging players which are growing rapidly
  • New Entrants

Futurewise Key Takeaways

  • Growth Prospects
  • SWOT Analysis
  • Key Trends
  • Key data-points affecting market growth

Objectives of the Study:

  • To provide with an exhaustive analysis on the global microencapsulation market by material, by application, by vehicle and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
  • Profiling of companies to evaluate their market shares, strategies, financial and core competencies

 

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