The microencapsulation market size is expected to reach US$ 17.5 billion by 2028, registering at a CAGR of 11.2% between 2022 and 2028.
Investments in Research and Development for Technological Advancements Drives Microencapsulation Market Microencapsulation Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage:by Technology (Spray Technologies, Emulsion Technologies, Dripping Technologies, Others); Core Material (Agricultural Inputs, Food Additives, Pharmaceutical and Healthcare Drugs, Fragrances, Phase Change Materials, Others); Shell Material (Polymers, GUMS and Resins, Lipids, Carbohydrates, Proteins); Application (Pharmaceutical and Healthcare Products, Food and Beverages, Household and Personal Care Products, Agrochemicals, Construction Materials, Textiles, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)
Microencapsulation Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
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Source: The Insight Partners Analysis
Microencapsulation is used in various applications to protect the active substance form external environment and maintain its properties. The growth of the microencapsulation market is driven by the robust development of cosmetic industry, increasing demand for functional food, and rising demand for microencapsulation in fragrances used in various home applications and personal care products. Further, demand for microencapsulation for masking application has surged owing to the increasing consumption of n-3 fatty acid due to its health benefits. However, high cost associated with microencapsulation process coupled with technical constrains hamper the growth of market.
The microencapsulation market has been growing over the past decades owing to the increasing investments in research & development activities for technological advancements in the microencapsulation process. The demand for new technologies in microencapsulation has surged to tap the niche markets, such as the use of phase change materials (PCMs) in energy application. Microencapsulation in energy application enhance thermal and mechanical performance of PCMs used in thermal energy storage by increasing the heat transfer area and preventing the leakage of melting materials. Key players in the PCM market are enhancing the product performance by focusing on new product advancements with increased latent heat storage capacity and analysis of various phase change temperature alternatives. Therefore, the aforementioned factors are propelling the growth of the microencapsulation market.
The microencapsulation process is most widely used in the pharmaceutical & healthcare industry for regulated medication delivery. To manage medication distribution, hide pharmaceutical products’ unpleasant taste and odors, and enable targeted delivery of medicine, the microencapsulation process is widely used in the industry. Functions such as tailored action of microencapsulated biomolecules have surged the demand for microencapsulation in the pharmaceutical & healthcare industry. Thus, medication with microencapsulation has surged to deliver active components in products precisely and effectively.
BASF SE; Lycored; Encapsys, LLC; Balchem Inc.; Reed Pacific Pty Ltd.; Microtek Laboratories, Inc.; Bayer AG; TasteTech; Ronald T. Dodge Company; and Sphera Encapsulation are among the key market players profiled during the study. Several other major companies were also studied and analyzed in this research study to get a holistic view of the microencapsulation market and its ecosystem.
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