Micro-encapsulation Market to Accrue Valuation of USD 16.7 Billion at 11.18% CAGR During Forecast Period 2021-2027
Market Research Future (MRFR)’s extensive study reveals that the global Micro-encapsulation Market Share is expected to surge at an exceptional CAGR of 11.18%, surpassing the value of USD 16.7 million during the forecast period (2021-2027). Extensive use in various industries such as pharmaceutical healthcare products, food beverages, household personal care products to enhance product functionality fuels the market growth. The market players serve the urge to respond to these new opportunities by expanding their global presence and services. Moreover, shifting focus towards healthier lifestyle and changing dietary preference marks the market expansion in the region. The micro-encapsulation market will also note a dramatic growth on the back of growing food additives industry where it extensively used for the production process. Also, rising disposable income and strong economy have led to the surge in the market. Continuous product innovation also gives way to market growth.
However, high cost associated with the microencapsulation process may undermine the market growth. On the other hand, rise in demand to enhance product functionality, increasing demand from agrochemicals sector, reduced application cost and growth in research and development activities are inevitably triggering the market growth in the coming years.
Micro-Encapsulation – Segmental Analysis:
The global micro-encapsulation market is segmented on the basis of technology, coating material, and application
By technology, the market is segmented on the basis of atomization, liposome entrapment, spray, and pan coating. The spray technology is leading the market and will sustain its position throughout the forecast period. Also, the segment is projected to thrive at a healthy CAGR of 11.48% during the forecast period owing to low thermal damage caused to the product and increase in shelf-life leading to improved logistics.
By coating material, the market is segmented on the basis of polysaccharides, proteins, lipids, and resins. Among all the coating materials, lipids segment accounts for the maximum market share and will continue to lead throughout the forecast period. The segment is presumed to grow at a phenomenal CAGR of 11.50% in the coming years.
Various applications in the global micro-encapsulation market are home and personal care, agriculture, pharmaceuticals healthcare and industrial chemical. Among these, the pharmaceuticals healthcare segment accounts for approximately 65.0% market share followed by personal care accounting for 9.4% of the global micro-encapsulation market.
The global market for micro-encapsulation is divided into North America, Europe, the Asia Pacific and the Middle East Africa. North America accounted for 37.8% of total revenue in 2018 due to strong demand for pharmaceutical and food and beverage applications. Innovations in the textile industry to integrate technology to enhance product quality and strength are expected to complementdevelopment over the forecast period. The U.S. dominated the market in North America with a share of over 80% in 2018 due to the high penetration of technology in the pharmaceutical and healthcare industries.
U.K., Italy, France, and Germany together accounted for 71.2% of the total revenue in Europe due to the early acceptance of technology in end-use applications.
The Asia Pacific market is expected to grow at CAGR by 15.6% over the forecast period due to the swift development of the pharmaceutical and food processing industries across the region. Favorable government policies to encourage FDI in the pharmaceutical industry in India and China have played a key role in developing the healthcare sector in the Asia Pacific.
Top Key Players:
Royal FrieslandCampina N.V. (Netherlands), LycoRed Ltd. (Israel), Bayer AG (Germany), Encapsys, LLC (U.S.), International Flavors Fragrance, Inc. (U.S.), Symrise AG (Germany), Balchem Corp. (U.S.), BASF SE (Germany), Syngenta AG (Switzerland), and Givaudan SA (Switzerland) are the key players operating in the micro-encapsulation market. Players are investing in RD to boost their product offerings. Acquisitions are the key methods used to expand the global reach of businesses.
About Market Research Future:
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