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.
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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.
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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.
TOP
10 COMPANIES IN MICROENCAPSULATION MARKET
Key Questions Answered in the Report-
- What is the current value of revenue generated
by the microencapsulation market?
- At what rate is the demand for the
microencapsulation market is projected to grow over the next 5-7 years?
- What is the historical market size and growth
rate for the microencapsulation market?
- What are the major factors impacting the
growth of this market at the regional and country levels? What are the
major opportunities for existing players and new entrants in the market?
- What impact does the current COVID-19 pandemic
have on the microencapsulation market?
- Which segments in terms of the core material,
core form, coating material, technology/methods, and application create
major traction for the vendors in this market?
- What are the key geographical trends in this
market? Which countries are expected to offer significant growth
opportunities for the vendors operating in the microencapsulation market?
- Who are the major players in the
microencapsulation market? What are their specific product/technology
offerings in this market space?
- What recent developments have taken place in
the microencapsulation market? What impact have these strategic
developments created on the microencapsulation market?
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