DUBLIN, May 5, 2021: The “Microencapsulation Market by Coating Material (Polysaccharides, Proteins), Technology [Physico-Mechanical (Spray Drying, Coextrusion); Physico-Chemical; Chemical], Application (Pharmaceutical, Food), Core Material, and Core Form – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
This report provides an in-depth analysis of the microencapsulation market across five major geographies emphasizing on the current market trends, market size, recent developments, and providing the forecast till 2027. The microencapsulation market is expected to grow at a CAGR of 11.7% from 2020 to 2027 to reach $17.31 billion by 2027.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and challenges. The growth of this market is mainly attributed to the growing demand for pharmaceutical and agrochemical products; rising demand for functional food products; strong growth in the cosmetic industry; growing demand for microencapsulated fragrances due to their wide applications across the home care and personal care industries; and rising R&D investment for improving process efficiency.
The study offers a comprehensive analysis of the microencapsulation market with respect to core material [pharmaceutical & healthcare drugs; food, feed, and nutraceuticals (vitamins and minerals, enzymes, organic acids, prebiotics and probiotics, sweeteners, flavors and colors, amino acids and proteins, essential oils, and others); fragrances; agriculture inputs; phase change material; and other core material]; core form (liquid, solid, gas); coating material (polysaccharides, polymers, proteins, lipids & waxes, gums & resins, and others); technology/method [physico-mechanical methods (spray drying, fluidized bed spray coating, coextrusion, spray chilling or congealing, other physico-mechanical methods); physico-chemical methods (coacervation or phase separation methods and other physico-chemical methods); chemical methods (in-situ polymerization and interfacial polymerization); and other microencapsulation methods]; application (pharmaceutical, home and personal care, food, feed, and nutraceuticals, agrochemical and others; and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on core material, the pharmaceutical & healthcare drugs segment accounted for the largest share of the microencapsulation market in 2020. Based on type, the food, feed, and nutraceutical market is segmented into vitamins and minerals, enzymes, organic acids, prebiotics and probiotics, sweeteners, flavors and colors, amino acids and proteins, essential oils, and others. In 2020, the vitamins and minerals segment is estimated to account for the largest share of the food, feed, and nutraceutical microencapsulation market, owing to the growing demand for dietary supplements, increasing use of microencapsulation for controlled and targeted release of vitamins and minerals.
Based on core form, the microencapsulation market is segmented into liquid, solid, and gas. The liquid segment accounted for the largest share of the microencapsulation market in 2020. The liquid core materials get easily dissolved and dispersed, requiring microencapsulation requirements for their enhanced timely delivery and better performance. The wide application of microencapsulation technique for converting liquid core active substances, such as oils, pigments, solvents, perfumes, and agrochemicals to solid/powder form, is the major factor contributing to the largest share of this segment.
Based on coating material, the polysaccharides segment is expected to grow at the highest CAGR during the forecast period. It can be obtained from abundant renewable sources and are non-toxic, making them valuable for food and pharmaceutical formulations. Further, starch is the most consumed polysaccharide in the human diet and is listed in the GRAS list of the USFDA.
Based on technology/method, the physico-mechanical segment is expected to record the highest CAGR during the forecast period. The fast growth of this segment is mainly attributed to its high adoption, owing to benefits offered by these technologies, such as cost-effectiveness, high production capacity, high recovery efficiency, and simplicity of process with safety.
Based on application, the food, feed, and nutraceutical segment is projected to witness the highest CAGR during the forecast period of 2020-2027. The fast growth of this segment is mainly attributed to the increasing awareness about functional food products, strong growth in dietary supplements, and increasing use of encapsulation ingredients in the food and beverage industry.
An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. North America is estimated to command the largest share of the microencapsulation market in 2020, followed by Europe and Asia-Pacific. The APAC market is expected to grow at the highest CAGR during the forecast period.
The key players operating in the microencapsulation market are Givaudan S.A. (Switzerland), International Flavors & Fragrances, Inc.(U.S.), Encapsys, LLC (U.S.), Reed Pacific Pty Limited (Australia), Firmenich Incorporated (Switzerland), Symrise AG (Germany), Ingredion Incorporated (U.S.), MikroCaps d.o.o (Slovenia), Koehler Innovative Solutions (Germany), Koninklijke DSM N.V. (Netherlands), Sensient Technologies (U.S.), Evonik Industries AG (Germany), and Micropore Technologies Limited (U.K.), among others.
Key questions answered in the report
What is the current value of revenue generated by the microencapsulation market?
At what rate is the demand for the microencapsulation market is projected to grow over the next 5-7 years?
What is the historical market size and growth rate for the microencapsulation market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
What impact does the current COVID-19 pandemic have on the microencapsulation market?
Which segments in terms of the core material, core form, coating material, technology/method, and application create major traction for the vendors in this market?
What are the key geographical trends in this market? Which countries are expected to offer significant growth opportunities for the vendors operating in the microencapsulation market?
Who are the major players in the microencapsulation market? What are their specific product/service offerings in this market space?
What recent developments have taken place in the microencapsulation market? What impact have these strategic developments created on the microencapsulation market?