Luton, Bedfordshire, United Kingdom, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Microencapsulation Market.
The Microencapsulation Market was worth USD 8 billion in 2021 and is expected to reach approximately USD 26.2 billion by 2028, while registering itself at a compound annual growth rate (CAGR) of 14% from 2022 to 2028.
Microencapsulation is a method of coating active substances with very small capsules. It is a relatively modern technology that has found applications in the cosmetics, pharmaceutical, agrochemical, and food industries, with applications in flavours, acids, oils, vitamins, and microorganisms, among others.
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- Givaudan inaugurated its first fragrance encapsulation center in Singapore to expand its geographical reach to the Asia Pacific market.
- Koninklijke DSM inaugurated its second animal nutrition & health premix plant in Jadcherla, India. This expansion will help the company to expand its geographical reach and also will increase its production capacity to meet the rising demands in the region as well.
- The animal nutrition division of BASF SE launched Lucantin NXT in the European Nations. According to the latest regulation, this carotenoid formulation would meet the requirement in which ethoxyquin (EQ) is withdrawn as a stabilizer.
North America is estimated to command the largest share of the microencapsulation market
In the microencapsulation market, North America has the largest share. The growing need for value-added goods in areas such as nutrition, food, healthcare, and personal care is driving the market for microencapsulation in the North American region. Companies are working on developing functional items with revolutionary technologies such as microencapsulation as a result of greater awareness and demand.
Increase in demand for microencapsulation in food & beverage and pharmaceutical industry
Microencapsulation is used to improve the functional properties of the food products by adding species, vitamins, minerals, and other additives as a result there is high demand for microencapsulation in the food & beverages and pharmaceutical industry. The global microencapsulation market is witnessing exponential growth thanks to the advantages gained by manufacturers in microencapsulation methods which in turn have a significant impact on the pharmaceutical industry thus many key players are investing more for the development of microencapsulation. Other active ingredients such as proteins, peptides, and DNA/RNA molecules are encapsulated in the pharmaceutical industry to meet consumer demand for value-added products, in addition to medicines. The development of new technology to reach niche markets has created many lucrative opportunities for the market's key players. However, on the other hand, competition for raw materials may cause the market to slow down.
Microencapsulation Market Report Scope
| Report Attribute | Details |
| Market size value in 2021 | USD 8 billion in 2021 |
| Revenue forecast in 2029 | USD 26.2 billion by 2028 |
| Growth rate | CAGR of 14% from 2022 to 2028 |
| Base year for estimation | 2021 |
| Historical data | 2017 - 2020 |
| Forecast period | 2022 - 2028 |
| Quantitative units | Volume in kilo tons, revenue in USD million and CAGR from 2022 to 2028 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, application, region |
| Regional scope | North America; Europe; China; Asia; Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Poland; Spain; India; Japan; Thailand; Malaysia; Indonesia; Vietnam; Singapore; Philippines; Brazil; Argentina; Saudi Arabia; UAE; Oman |
| Key companies profiled | BASF (Germany), Royal FrieslandCampina (Netherlands), Syngenta Crop Protection (Switzerland), Koninklijke DSM (Netherlands), Givaudan (Switzerland), Firmenich (Switzerland), Symrise (Germany), International Flavors & Fragrances (US), Sensient Technologies (US), Lycored Corp. (UK), Balchem Corporation (US), Encapsys (US), Arcade Beauty (US), and Koehler Innovative Solutions (Germany). |
| Key Market Opportunities | Pharmaceutical industry, Active ingredients that control the growth for microencapsulation, Textile in the global microencapsulation market |
| Key Market Drivers | Interest of the young consumers towards a healthy lifestyle |
| Customization scope | Demand for microencapsulation is expected to rise as the pharmaceutical industry grows. Microencapsulation provides integration of minerals, vitamins, flavors, essential oils, and other additives in food products to enhance the functional properties of products. |
| Pricing and purchase options | The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel. |
Microencapsulation Market: Market Scope
The global microencapsulation market has been expected to grow at a significant rate in the coming years as it has been growing off late. The reason for this good amount of growth has been the increase in applications in the products across the different industries. The growth in demand for the agrochemical and pharmaceutical products as well as the increase in the demand for the food products that are functional are among a few factors which drive the growth of this market. The microencapsulation application will keep driving the market further.
The key players in the global market include BASF (Germany), Royal FrieslandCampina (Netherlands), Syngenta Crop Protection (Switzerland), Koninklijke DSM (Netherlands), Givaudan (Switzerland), Firmenich (Switzerland), Symrise (Germany), International Flavors & Fragrances (US), Sensient Technologies (US), Lycored Corp. (UK), Balchem Corporation (US), Encapsys (US), Arcade Beauty (US), and Koehler Innovative Solutions (Germany).
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Key Industry Insights & Findings from the report:
- In 2022, the protein-based coating materials segment accounted for 26.3% share of the overall revenue, on account of their superior binding properties, which enable their application in flavor compounds used in the food and beverage industry.
- The emulsion technology segment is expected to exhibit a CAGR of 10.5% from 2022 to 2029, on account of its rising demand for encapsulating essential oils to protect their flavors and fragrances in end-use applications.
- The home and personal care industry accounted for a 9.66% share of the overall revenue in 2022, on account of the surging demand for the technology to produce cosmetics, including perfume, soap, lotion, cream, shampoo, and washing liquids.
- The pharmaceutical application segment is expected to expand at a CAGR of 10.0% during the forecast period, owing to benefits offered by the technique such as particle size reduction for enhancing the solubility of poorly soluble drugs, sustained drug delivery, and cell encapsulation.
- The European region generated a revenue of approximately USD 3.4 billion in 2022, with a majority of its share derived from pharmaceutical applications.
- Major players operating in the microencapsulation industry operate their business through strategic partnerships and tie-ups with end-user industries, wherein they offer client-specific technology solutions.
Market Dynamics
Major Drivers of The Market
The global micro-encapsulation market is composed of various technologies that have been divided into spray, emulsion, dripping, and others. The “spray segment” category is likely to have the biggest share of the market over the forecast period. There has been growth in other segments, by coating material, it is divided into carbohydrates, polymers, proteins, gums & resins, lipids, and many more. Its applications are intended to meet the demands of industries such as major pharmaceuticals & healthcare, processed food & beverages, different household items, personal care, agrochemicals, etc.
Market Restraints
The outbreak of COVID-19 has hard severely knocked out the growing pace of the micro encapsulation of melittin because of mandatory closures of consumer markets and factories across the globe, the profit share of the companies has fallen apart. COVID19 has disrupted the entire supply chain. Continuous lockdown created a negative impact and affected the morale of the makers. The major retailers, such as the pharmaceutical industry, food supermarkets &hypermarkets, textiles have gone through acute shortage despite having demand in certain areas across the globe.
Significant Opportunities for The Market
The major companies of the world are focusing on this process because they take encapsulation as an immune protection process. The major MNC companies are focusing on this trend such as Nestle, Lipo, Procter & Gamble Co. (P&G), and many other companies that rule the world platform. They are widely using microencapsulation market technology to manufacture and distribute their products globally.
Market Growth Challenges
A healthy lifestyle is boosting the concept. This focuses on category-specific marketplaces. The companies are strategizing and executing modern business operations through innovation. Many factors affect the growth of this segment such as market size, trends in global technology, capital investment, etc. The encapsulated flavors and fragrances market is huge, but it needs innovation, technology, and capita
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