The global microencapsulation market size is anticipated to reach USD 19.34 billion by 2025. Microencapsulation is a technique of enclosing a core material with a coating material. This procedure is carried out at a nanoscale. Microencapsulation communicates exact properties to food enzymes, cells, ingredients, cells, and the other micrometric materials through the coating.
The factors that propel the growth of the microencapsulation industry include increased applications in the food industry to fortify products, the surge in demand for agrochemical applications, rising demand for enhancing product functionality in numerous industries, the surge in demand for use in functional food, reduced application cost and growing market for targeted and controlled drug delivery in the pharmaceuticals industry.
On the other hand, there are factors that may hamper the growth of the market including high costs of the microencapsulated procedures. The microencapsulation market is anticipated to expand at a significant CAGR of 13.6% in the upcoming period as the scope, product types, and applications are increasing across the globe.
The microencapsulation industry could be explored by core material, technology, applications, shell material, and geography. The market could be explored by core materials such as Phase change materials, Pharmaceutical & healthcare drugs, Fragrances, Agricultural inputs, Food additives, Others (inks, construction chemicals, energy molecules, and household & personal care products).
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Based on technology, the microencapsulation market could span Spray technologies, Dripping, Emulsion technologies, Others (coating, physicochemical, and chemical technologies). The spray technologies segment may dominate the market in 2016. The emulsion skills segment is anticipated to grow at the highest CAGR from 2014 to 2025.
The key applications that could be explored in the microencapsulation industry include Pharmaceutical & healthcare products, Household & personal care products, Food & beverages, Agrochemicals, Construction materials, Textiles, Others (defense, paper & printing, and energy). The pharmaceutical & healthcare segment may dominate the market in 2016 subsequently microencapsulated constituents such as drugs & nutrients are mostly used for the development of these products. This segment is followed by household and personal care products.
The microencapsulation market could be explored based on shell material into Polymers, Carbohydrates, Gums & resins, Lipids, Proteins. The carbohydrates segment is expected to grow at the highest CAGR from 2014 to 2025 due to its practice in the quickly rising food & beverages industry.
Asia-Pacific accounted for the major market share of microencapsulation in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing demand for useful products in several industries, mainly in the food & beverages industry. The development in this market is powered by financial growth in countries such as Japan, China, and India.
Some of the key players that fuel the growth of the microencapsulation industry comprise BASF SE, LLC, Ronald T. Dodge Company, Bayer AG, Balchem Corporation, Aveka, Inc., GAT Microencapsulation GmbH, Dow Corning Corporation, Encapsys, Taste Tech Ltd., InnoBio., Capsule, Lipo Technologies, And Microtek Laboratories, Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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