The global microencapsulation market is estimated to be valued at USD 8.5 billion in 2020 and is projected to reach USD 18.30 billion by 2027, at a CAGR of 9.0 % from 2020 to 2027. Rapidly transforming lifestyles towards healthier regime combined with changing eating habits of individuals are the primary reason to drive the microencapsulation market growth by 2024. Microencapsulation technology captures the vital dietary nutrients and supplements in edible enclosing additives, as it may directly affect the taste and colour of the end product. Moreover, the procedure offers several benefits such as protection of core materials, controlled release of core and improved handling of ingredients. Increasing use of the technology in masking taste, odour and activity of encapsulated materials is anticipated to fuel the product demand in edible product sector. Surging awareness regarding the benefits of microencapsulated medicinal capsules and dietary supplements is propelling the market growth.
Microencapsulation improves drug delivery and is used in a variety of novel drug administration practices. The prime reason for microencapsulating drug molecules is to ensure controlled drug distribution. This enables sustained and prolonged distribution of a drug in the body. For instance, its benefits can be seen in the case of Aspirin, as direct consumption of product can cause peptic ulcers and bleeding. Therefore, microencapsulated Aspirin works best in releasing a significant amount of the active ingredient. Moreover, the process ensures certain organoleptic properties such as off-flavours and smell of medicines can be masked, thereby increasing patient compliance.
Necessity for detailed research in order to choose the suitable method and core materials for the procedure is the key restraining factor for microencapsulation market growth throughout forecast period. Significant new material development and other experiments must be carried out before choosing the encapsulating material and technology which is required to enclose the core material. This continuous research and development activities incur an excessive cost and eventually it increases the overall product price, thus hampering the industry growth by 2027.
The key players in the microencapsulation market include BASF (Germany), Royal FrieslandCampina (Netherlands), Syngenta Crop Protection (Switzerland), Koninklijke DSM (Netherlands), Givaudan (Switzerland), Firmenich (Switzerland), Symrise (Germany), International Flavors& Fragrances (US), Sensient Technologies (US), Lycored Corp. (UK), Balchem Corporation (US), Encapsys (US), Arcade Beauty (US), and Koehler Innovative Solutions (Germany).
Report : Microencapsulation Market - By Application (Pharmaceuticals And Healthcare Products, Food & Beverages, Household And Personal Care Products, Agrochemicals), By Technology (Spray technologies, Emulsion technologies, Dripping Technologies, Others), By Core Material (Pharmaceutical & healthcare drugs, Food additives, Fragrances, Others) And By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, Opportunity and Forecast 2020 To 2027