The market for microencapsulation is primarily driven by factors such as rising functional food product demand, rising pharmaceutical agrochemical product demand, strong growth in the cosmetic industry, rising demand for microencapsulated fragrances because of their numerous applications in the personal care and home care sectors, and rising RD expenditure to increase process efficiency. However, it is anticipated that the high manufacturing costs of several microencapsulation processes and the strict regulatory requirements may moderate this market's future expansion.
The microencapsulation space benefited from the COVID-19 epidemic. The outbreak has compelled consumers to sanitise their surroundings more frequently, while shelter-in-place orders have increased consumer exposure to household cleaning supplies. People are therefore demanding more and more products with natural ingredients.
Microencapsulation market is presently worth USD 11.9 billion, and is anticipated to grow to a value of more than USD 25.9 billion by 2030, with a growing CAGR (compound annual growth rate) of over 10.3% from 2022 to 2030.
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Microencapsulation Market: Segment Assessment
Based by coating material
- Carbohydrates
- Gums and resins
- Lipids
- Polymers
- Proteins
Based by technology
- Coating
- Emulsion
- Spray technologies
- Dripping
- Others
Based by application
- Pharmaceutical and healthcare products
- Home and personal care
- Food and beverages
- Agrochemicals
- Construction
- Textile
- Others
Major Players:
Dow Corning, BASF, Syngenta Crop Protection, Encapsys, 3M, Evonik Industries and Bayer. Other important players in the market include Balchem Corporation, Ronald T. Dodge Company, Aveka, Reed Pacific, Capsulae, Taste Tech, Lipo, Microtek Laboratories, and GAT.
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Frequently Asked Questions (FAQ):
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