Meticulous Research® – leading global market research company, published a research report titled “Microencapsulation Market by Coating Material (Polysaccharides, Proteins), Technology [Physico-Mechanical (Spray Drying, Coextrusion); Physico-Chemical; Chemical], Application (Pharmaceutical, Food), Core Material, and Core Form - Global Forecast to 2027.”
According to this latest publication from Meticulous Research®, the microencapsulation market is expected to grow at a CAGR of 11.7% from 2020 to 2027 to reach $17.31 billion by 2027. The growth of the microencapsulation market is mainly attributed to the growing demand for pharmaceutical & agrochemical products, rising demand for functional food products, expanding cosmetic industry, growing demand for microencapsulated fragrances due to their wide applications across the home care and personal care industries, and rising R&D investment for improving process efficiency. However, the high production cost associated with the microencapsulation process and stringent regulatory requirements are factors expected to restrain the future growth of this market to some extent.
The microencapsulation market report presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market has been segmented into core material [pharmaceutical & healthcare drugs; food, feed, and nutraceuticals (vitamins and minerals, enzymes, organic acids, prebiotics and probiotics, sweeteners, flavors and colors, amino acids and proteins, essential oils, other core materials); fragrances; agriculture inputs; phase change material; and other core material]; core form (liquid, solid, gas); coating material (polysaccharides, polymers, proteins, lipids & waxes, gums & resins, and others); technology/method [physico-mechanical methods (spray drying, fluidized bed spray coating, coextrusion, spray chilling or congealing, other physico-mechanical methods); physico-chemical methods (coacervation or phase separation methods and other physico-chemical methods); chemical methods (in-situ polymerization and interfacial polymerization); and other microencapsulation methods]; application/industrial sector (pharmaceutical, home and personal care, food, feed, and nutraceuticals, agrochemical and others; and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on the core material, in 2020, the pharmaceutical & healthcare drugs segment is estimated to account for the largest share of the microencapsulation market. The cost-effectiveness as compared to other technologies, particle size reduction for high solubility, and controlled and sustained release of drugs are the major factors responsible for the largest share of this segment.
Based on core form, the liquid form segment is expected to register the fastest CAGR during the forecast period. Liquid core active substances involve oils, pigments, solvents, perfumes, and agrochemicals, among others. These materials contain the additional property of getting dissolved and dispersed.
Based on the coating material, the polysaccharides segment is estimated to account for the largest share of the market in 2020. Polysaccharides can be obtained from abundant renewable sources and are typically nontoxic, making them valuable for food and pharmaceutical formulations. Further, starch is the most consumed polysaccharide in the human diet as it is generally regarded as safe material and is therefore listed in the GRAS list of the U.S. Food and Drug Administration.
Based on the technology/method, the physico-mechanical methods segment is estimated to account for the largest share of the market in 2020. The large share of this segment is mainly attributed to the wide range of benefits offered by these technologies, including high production capacity, high recovery efficiency, cost-effectiveness, and simplicity of the process with safety.
Based on application, the pharmaceutical segment is estimated to command the largest share of the microencapsulation market in 2020. The key factors driving the demand for microencapsulation for the pharmaceutical products is its unique properties, such as protection of the drug from the environment, stabilization of sensitive drug substances, elimination of incompatibilities or masking of unpleasant taste, conversion of liquid drugs in a free-flowing powder, and prevention of vaporization of many volatile drugs. Further, the growing demand for microencapsulated biomolecules in the pharmaceutical industry fuels the growth of the microencapsulation market for pharmaceutical applications.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (China, India, Japan, and RoAPAC), Latin America, and the Middle East & Africa. North America region is estimated to hold the largest share of the microencapsulation market in 2020, followed by Europe and Asia-Pacific. However, the Asia-Pacific market is expected to register the fastest growth during the forecast period of 2020-2027. The rapid growth of this regional market is mainly attributed to the accelerated economic growth of many countries in this region, growing industrialization, and increasing awareness about functional products.
The microencapsulation market space is characterized by a moderately competitive scenario due to the presence of many large- and small-sized regional and local players. The key players operating in the microencapsulation market are Givaudan S.A. (Switzerland), International Flavors & Fragrances, Inc.(U.S.), Encapsys, LLC (U.S.), Reed Pacific Pty Limited (Australia), Firmenich Incorporated (Switzerland), Symrise AG (Germany), Ingredion Incorporated (U.S.), MikroCaps d.o.o (Slovenia), Koehler Innovative Solutions (Germany), Koninklijke DSM N.V. (Netherlands), Sensient Technologies (U.S.), Evonik Industries AG (Germany), and Micropore Technologies Limited (U.K.), among others.
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