Factors such as the increasing adoption of microencapsulation in
the pharmaceutical industry for controlled & targeted release of active
compounds (sustained or delayed-release), growing demand from the functional
food industry, rising demand from the agrochemical sector, strong growth in the
cosmetics industry, and growing demand for microencapsulated fragrances in home
and personal care products are driving the growth of the overall
microencapsulation market. However, the high production cost of
microencapsulation and increasing demand for nano-encapsulation technology,
especially in pharmaceutical applications, are the key factors expected to
restrain the future growth of this market.
According to a new market research
report, “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”, published by
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 microencapsulation market studied in this report is majorly
segmented by the core material, core form, coating material, method,
application, and country/region.
Based on core material, the microencapsulation market is mainly
segmented into pharmaceutical and healthcare drugs; food, feed, &
nutraceuticals; fragrances; agricultural inputs; phase change materials; and
other core materials. In 2020, the pharmaceutical and healthcare drugs segment
accounted for the largest share of the overall microencapsulation market.
Compared to other technologies, the cost-effectiveness, 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 microencapsulation market is segmented
into liquid, solid, and gas. In 2020, the liquid segment commanded the largest
share of the overall microencapsulation market. The use of microencapsulation
for converting liquid core active substances, such as oils, pigments, solvents,
perfumes, and agrochemicals to solid/powder form, is majorly attributed to the
large share of this segment. These liquid materials have the property of
getting dissolved and dispersed, which needs microencapsulation requirements
for their enhanced timely delivery and better performance.
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Based on coating material, the microencapsulation market is
segmented into polysaccharides, proteins, lipids & waxes, gums and resins,
and other coating materials. In 2020, the polysaccharides segment accounted for
the largest share of the overall microencapsulation market. Also, the
polysaccharides segment is estimated to grow at the highest CAGR during the
forecast period. The large share and fast growth of this segment is mainly attributed
to its increasing usage in the food industry and easy approval of
polysaccharides by regulatory authorities. Polysaccharides can be obtained from
abundant renewable sources and are typically non-toxic, making them valuable
for food and pharmaceutical formulations. Further, starch is the most consumed
polysaccharide in the human diet. 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 method, the microencapsulation market is segmented into
physio-mechanical, physio-chemical, chemical, and other methods. In 2020, the
physio-mechanical methods segment accounted for the largest share of the
overall microencapsulation market, followed by physio-chemical methods, chemical
methods, and other methods.
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Based on technology, the physio-mechanical methods market is
segmented into spray drying, fluidized bed spray coating, coextrusion, spray
chilling or congealing, and other physio-mechanical methods (spinning
disk/rotational suspension separation, and phase inversion
precipitation/centrifugal extrusion). The spray drying segment accounted for
the largest share of the overall physio-mechanical methods market in 2020. The
spray drying method is largely used in microencapsulation mainly due to the
rapid processing at low cost, a wide choice of coating material, good
encapsulation efficiency, stability of the finished product, and the
possibility of large-scale production in the continuous mode.
Based on application, the microencapsulation market is segmented
into pharmaceuticals; home and personal care; food, feed, and nutraceuticals;
agrochemicals; and other applications. In 2020, the pharmaceuticals segment
accounted for the largest share of the overall microencapsulation market. The
major use of microencapsulation in the pharmaceutical industry to protect drugs
from the environment, stabilize sensitive drug substances, eliminate
incompatibilities, or mask unpleasant taste is one of the major drivers for the
growth of this segment. The demand for microencapsulated biomolecules is
increasing in the pharmaceutical industry due to its effective and targeted
delivery.
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Geographically, the microencapsulation market is divided into
North America, Europe, Asia-Pacific, Latin America, and the Middle East &
Africa. In 2020, North America accounted for the largest share of the global
microencapsulation market, followed by Europe and Asia-Pacific. The large share
of this region can be attributed to the presence of a large number of
microencapsulation technology providers; strong functional food,
pharmaceutical, and agrochemical sectors; growing demand for functional
products with novel technologies, such as microencapsulation; and increasing
innovation in the personal care & cosmetics industries. However,
Asia-Pacific region is slated to register the highest CAGR during the forecast
period.
The key players operating in the global 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.), BASF SE (Germany), MikroCaps D.O.O (Slovenia), Koehler
Innovative Solutions (Germany), Koninklijke DSM N.V. (Netherlands), Sensient
Technologies Corporation (U.S.), Evonik Industries AG, (Germany), Micropore
Technologies Limited (U.K.), and CAPSULARIS (France), among others.
TOP 10 COMPANIES IN MICROENCAPSULATION MARKET
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