Micro-Encapsulation Market Healthy Pace throughout the Forecast during 2020– 2027
Market Research Future (MRFR)’s
extensive study reveals that the global micro-encapsulation
market is expected to surge at an exceptional CAGR of 11.22%, surpassing the value of USD 212,761.2 million during the forecast
period (2017-2023). 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.
Regional Outlook
By region, the global
micro-encapsulation market is segmented on the basis of North America, Europe,
Asia Pacific, Latin America and Middle East & Africa.
Globally the North American region
has the upper hand and dominates the global market. The region is projected to
surge at a CAGR of 10.86% during the forecast period. The growing awareness
along with demand for fortified food products, growing demand from the
pharmaceutical industry for numerous applications, and the advent of new
technologies have driven the market growth in the region.
MRFR notes that Asia Pacific is
anticipated to grow at the highest growth rate during the forecast period. In
the region, China holds the major market share and will reach valuation of USD
1,042.5 million during the assessment period. The regional market has picked up
immense speed since the demand from the
food & beverages industry has quadrupled in the past few years. The other
factors triggering the market growth are emerging economies, technological
advancements, and rapid industrialization.
The Europe region
also represents a noteworthy market share on account of reduced labor price
combined with the high development of pharmaceutical, food processing, and
detergent & cleaners industry. Moreover, expanding utilization of
electronic display equipment such as mobile phones, and tablets could
potentially build the use of electronic inks further driving the market
development in the region. Adding to this is the growing prominence of
functional foods along with the positive market viewpoint of cutting-edge phase
change materials (PCM) would spur the demand of microencapsulation in Europe.
Micro-encapsulation Market –
Competitive Dashboard
The key players in the global
micro-encapsulation market include Symrise
AG (Germany), Balchem Corp. (U.S.), Syngenta AG (Switzerland), BASF SE
(Germany) and LycoRed Ltd. (Israel) and others.
NOTE: Our Team of Researchers are
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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