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Global Microencapsulation Market Analysis by coating material, technology, application, Region and segments forecast till 2033
Market Overview
The Global microencapsulation market is presently worth USD 11,900 million, and is anticipated to grow to a value of more than USD 25,900 million by 2033, with a growing CAGR (compound annual growth rate) of over 10.3% from 2023 to 2033.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 11,900 million |
Market Forecast in 2033 | USD 25,900 million |
CAGR % 2023-2033 | 10.3% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heatmap, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Dow Corning, BASF, Syngenta Crop Protection, Encapsys, 3M, Evonik Industries, Bayer, Balchem Corporation, Ronald T. Dodge Company, Aveka, Reed Pacific, Capsulae, Taste Tech, Lipo, Microtek Laboratories, GAT, Others |
Global Microencapsulation Market- Description
Microencapsulation is a procedure in which a coating surrounds microscopic particles or droplets to create miniature capsules with beneficial qualities. On a micro meter scale, it is utilized to incorporate food ingredients, enzymes, cells, or other elements. To reduce dosing frequency and avoid pharmaceutical deterioration, microencapsulation can be utilized to enclose solids, liquids, or gases inside a micrometric wall made of hard or soft soluble film. A microcapsule is a small spherical capsule with a near-uniform wall encapsulating some material in its most basic form. The microcapsule's encased material is known as the core, internal phase, or fill, while the wall is known as a shell, coating, or membrane.
The expanding demand for pharmaceutical and agrochemical products, as well as the growing demand for functional food products, are some of the factors propelling the microencapsulation market forward. With the rise in demand for functional and fortified food and pharmaceutical goods, microencapsulation is becoming more popular. Microencapsulation allows minerals, vitamins, flavors, essential oils, and other additives to be integrated into food products to improve their beneficial characteristics. Microencapsulation technologies have a significant impact on the pharmaceutical industry due to the advantages gained by producers. Other active substances such as peptides, proteins, and DNA/RNA molecules are encapsulated in the pharmaceutical sector to address market demand for value-added products, in addition to pharmaceuticals.
Global Microencapsulation Market: Key trends
Rising demand for microencapsulated products will aid the market expansion
With the growing demand for microencapsulated products, numerous firms in the market are investing heavily in research and development, which has aided the microencapsulation market's growth. To tap niche markets such as the usage of PCMs in energy applications and cancer and brain tumor-specific medication delivery, new microencapsulation technologies are required. To improve the performance of their goods, market players in PCMs are working on new product advancements, microencapsulation technologies, improvements in latent heat storage capacity, and evaluation of different phase change temperature alternatives.
Adoption of advanced technologies will further help the market to grow
To achieve the stability of microencapsulated substances or products, physical and chemical properties of microcapsules must be optimized. Microencapsulated substances are difficult to keep stable in a variety of environments, according to manufacturers. Microencapsulation process type, material type, and microsphere capacity are all aspects to consider while optimizing characteristics. Permeability, mechanical stability, cell survival, controlled release, targeted distribution, drug stability, and shelf-life are all features that must be improved in microcapsules.
Global Microencapsulation Market: Segment Assessment
Based by coating material
Carbohydrates
Gums and resins
Lipids
Polymers
Proteins
The carbohydrates segment leads the market with the highest market share, and is anticipated to increase in the coming years.
Based by technology
Coating
Emulsion
Spray technologies
Dripping
Others
The spray segment rules the market with the largest market share, and recorded of more than 30% revenue share of the microencapsulation market in 2021.
Based by application
Pharmaceutical and healthcare products
Home and personal care
Food and beverages
Agrochemicals
Construction
Textile
Others
The home and personal care segment dominates the market with the highest market share, and is projected to grow further in the upcoming years.
Global Microencapsulation Market: Geographical Landscape
In term of geographic region, the Global microencapsulation market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia-Pacific dominates the market with the highest market share. Presence of potential market leaders in the locale is one of the main considerations contributing toward the development of the Asia-Pacific market.
Global Microencapsulation Market: Recent Developments
In June 2021, BASF SE announced the acquisition of the U.S.-based biotech company, Biome Renewables. The acquisition aims to strengthen BASF's position in the bio-based materials market, including microencapsulation.
In May 2021, Syngenta Crop Protection AG announced a collaboration with Valagro, a leading biostimulant and biocontrol company. The collaboration aims to develop and commercialize new biological crop protection solutions, including microencapsulation-based formulations.
In September 2020, Givaudan SA announced the acquisition of the U.S.-based microencapsulation company, Myrissi. The acquisition aims to expand Givaudan's capabilities in encapsulation technologies for flavors and fragrances.
Global Microencapsulation Market: Key Companies
Dow Corning
BASF
Syngenta Crop Protection
Encapsys
3M
Evonik Industries
Bayer
Balchem Corporation
Ronald T. Dodge Company
Aveka
Reed Pacific
Capsulae
Taste Tech
Lipo
Microtek Laboratories
GAT
Others
Global Microencapsulation Market: Regional Scope
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
South Africa
Rest of Middle East and Africa
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