Microencapsulation Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Microencapsulation Market covers analysis 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)

Publication Month : Apr 2024

  • Report Code : TIPRE00003774
  • Category : Chemicals and Materials
  • Status : Upcoming
  • No. of Pages : 150
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The microencapsulation market was valued US$ 7.5 billion in 2021 , it is expected to grow at a CAGR of 11.2% between 2022 and 2028

The microencapsulation market is expected to witness a significant growth during the forecast period owing to the rising use of microencapsulation material in pharmaceutical, food & beverages, and agrochemical industries. Rising demand for fortified food products with health benefits, increasing consumer demand for function products, and surging demand for controlled drug delivery and targeted drug delivery in the pharmaceutical industry fuel the growth of the market. In addition, rising investments in research and development activities for improving technology has propelled the market growth.

MARKET DYNAMICS

Microencapsulation is a process in which active substances are coated by extremely small capsules. It is widely used in various applications including cosmetic, pharmaceutical, agrochemical, and food industries. In food and beverages application, microencapsulation offers integration of vitamins, minerals, essential oils, flavours, and other additives in food products to enhance the functional properties of products. Due to microencapsulation, the core element of any application is completely coated and isolated and protected from external environment. In food & beverages industry, microencapsulation is used to reduce the volatility, unpleasant aroma, and reactivity of food products and to provide greater stability to food products when exposed to adverse conditions.  

MARKET SCOPE

The "Global Microencapsulation Market Forecast to 2028" report aims to provide an overview of the microencapsulation market with detailed market segmentation. The report offers key statistics based on the performance of leading market players. It also provides key trends and opportunities in the market.

Strategic Insights

MARKET SEGMENTATION

The global microencapsulation market is segmented on the basis of coating material, core material, and application. Based on coating material, the market is segmented into gelatin, ethyl cellulose, polyvinyl alcohol, and others. By core material, the market is segmented into solid, liquid, and gas. In terms of application, the global microencapsulation market is segmented into pharmaceutical & healthcare products, home & personal care, food & beverages, agrochemicals, and others.


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REGIONAL FRAMEWORK

The global microencapsulation market is segmented into five major regions—North America, Europe, Asia (APAC), the Middle East & Africa (MEA), and South America. The report covers analysis and forecast of 18 countries globally along with trends and opportunities prevailing in the regions.

From the regional perspective, North America dominated the microencapsulation market. The regional market growth is mainly driven by the rising demand for food and beverages and pharmaceutical products. In addition, the increasing technological innovation in the textile industry to provide better quality products fuels the market growth.

The below figure shows the revenue growth trend in the global microencapsulation market:


Microencapsulation Market

Source: The Insight Partners Analysis

The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which impact the microencapsulation market. The report also provides an exhaustive Porter's five forces analysis of the factors influencing the market.

IMPACT OF COVID-19 PANDEMIC

The COVID-19 pandemic propelled the microencapsulation market globally. The pandemic has forced consumers to sanitize their surroundings more regularly, resulting in surge in the demand for home cleaning goods. However, microencapsulation manufacturers faced significant challenges due to supply chain constraints caused by nationwide lockdowns and trade and travel restrictions. Supply chain disruptions created a shortage of raw materials, which affected the production and distribution of various products, leading to increased prices. Above mentioned factors, hampered the profitability of various small-scale and large-scale producers. On the other side, since 2021, the demand for microencapsulation in personal care & cosmetic, textile, and other industries has surged owing to changing lifestyle coupled with increasing spending on cosmetic products. This would propel the procurement of microencapsulation technology, which would eventually result in a notable growth of the market during the forecast period.

World Geography

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MARKET PLAYERS

The reports cover key developments in the microencapsulation market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. Acquisitions, partnerships, and collaborations are among the inorganic growth strategies witnessed in the market. These activities have paved the way for expanding market players' business and customer base. With the rising demand for microencapsulation, market players are anticipated to experience lucrative growth opportunities in the future.

The report also includes the profiles of key companies in this market, their SWOT analysis, and market strategies. In addition, the report focuses on leading industry players’ information, such as company profiles, components and services offered, financial information of the last three years, and key developments in the past five years. Below mentioned is the list of a few companies engaged in the microencapsulation market:

  • BASF SE
  • Lycored
  • Encapsys, LLC
  • Balchem Inc
  • Reed Pacific Pty Ltd.
  • Microtek Laboratories, Inc.
  • Bayer AG
  • TasteTech
  • Ronald T. Dodge Company
  • Sphera Encapsulation

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Market Research

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Coating Material, Core Material, Application, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

The List of Companies

1. BASF SE
2. Balchem Corporation
3. Encapsys, LLC
4. Koehler Innovative Solutions
5. Koninklijke DSM N. V.
6. LycoRed Ltd.
7. Microtek Laboratories, Inc.
8. Royal FrieslandCampina N. V.
9. Sensient Technologies Corporation
10. Symrise AG

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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