DUBLIN–(BUSINESS WIRE)–The “Microcapsule Market by Technology (Spray, Emulsion and Dripping), End-user Industry (Pharmaceuticals & Healthcare, Food, Household & Personal Care, Textiles, Agrochemicals), Shell Material, Core Material & Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The market size of the microcapsule is estimated at USD 8.4 billion in 2021 and is projected to reach USD 13.4 billion by 2026, at a CAGR of 9.8% from 2021 to 2026.
The microcapsule market is on course for intense growth across different end-user industry verticals such as pharmaceuticals & healthcare, food, household & personal care, textiles, agrochemicals, and others. Manufacturers, producing microcapsule, are taking initiatives, and making huge investments in product launches and various business partnerships to improve the quality of their products and to augment their microcapsule business segment revenue.
A microcapsule is a small sphere with a uniform wall around it. The material inside the microcapsule is referred to as the core, internal phase, or fill, whereas the wall is commonly known as a shell, coating, or membrane. Microencapsulated particles have a diameter ranging from 3 to 800 micrometers.
There are various types of shell materials available for producing microcapsules, which include melamine formaldehyde, carbohydrates, gums & resins, other polymers, lipids and proteins. Among all these materials, carbohydrates segment is estimated to record highest growth in the microcapsule market during the forecast period. This is mainly due to the growing use of carbohydrates shell material in the food industry.
Pharmaceutical & healthcare drugs to lead microcapsule market, by core material in terms of size, during the forecast period
By core material, pharmaceutical and healthcare drugs are estimated to dominate the market in terms of size. The rising demand for fortified foods with enhanced health benefits drives the need for microencapsulated pharmaceutical and healthcare drugs. Further, the food additives segment is expected to be the second-largest market during the forecast period. Increasing use of acidulants, flavoring, and coloring agents in fortified foods contributes to the substantially large share of the food additives segment in this market.
Spray technologies estimated to hold a larger size of microcapsule market than emulsion, dripping, and other technologies in 2021
Spray technologies are estimated to account for the largest share of the microcapsule market in 2021 owing to their wide applications in the pharmaceuticals & healthcare, food, and household and personal care industries. Dripping technologies are likely to be the fastest-growing market during the forecast period, mainly due to the escalating demand for microencapsulated active ingredients in the pharmaceutical industry across the world.
North America is the largest region in the microcapsule market
North America accounted for the largest share of the microcapsule market in 2020, followed by Europe. The fast-paced lifestyle of the consumers contributing to the high demand for functional and fortified food products in North America and Europe. This, in turn, contributes to the high demand for microcapsules in these regions, mainly in the food industry.
Market Dynamics
Drivers
- Increased Adoption of Encapsulation Technology by Food and Beverage Manufacturing Companies
- Escalated Demand for Microencapsulation from Pharmaceuticals Industry
- Elevated Use of Microencapsulation Technology in Agrochemicals Industry
Opportunities
- Ongoing Technological Advances to Tap Niche Markets
- Rising Need for Multi-Component Delivery Systems
- Emerging Economies to Provide High-Growth Opportunities
- Strong Focus on Technological Innovations and Healthy Eating and Nutritional Needs by Governments in Developing Countries
Challenges
- Maintaining Stability of Microencapsulated Ingredients in Varying Atmospheric Conditions
- Stringent Regulatory Policies Pertaining to Use of Formaldehyde, Especially in Europe and Asia-Pacific
- Selection of Application-Specific and Appropriate Microencapsulation Technique and Shell Materials
- Outbreak and Rapid Spread of COVID-19
Companies Mentioned
- Arcade Beauty
- Balchem Corporation
- Basf Se
- Brace GmbH
- Capsula Sas
- Encapsys
- Firmenich Sa
- Gat Microencapsulation GmbH
- Givaudan S.A.
- Innobio
- Insilico Co. Ltd.
- International Flavors & Fragrances
- Koehler Innovative Solutions
- Koninklijke Dsm N.V.
- Lycored Corp.
- Matsumoto Yushi Seiyaku Co., Ltd.
- Microcapsules Technologies (Mct)
- Microtek Laboratories, Inc.
- Reed Pacific
- Ronald T. Dodge Company
- Royal Frieslandcampina N.V.
- Sensient Technologies Corporation
- Symrise Ag
- Syngenta Crop Protection Ag
- Tagra Biotechnologies Ltd.
- Tastetech Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/6wg05q
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