In the coming years, the global micro-encapsulation market will advance at an incremental pace of development during the forecast period. Increasing application of micro-encapsulation technique in agriculture, drug delivery, animal feed, biotechnology, food and beverages and cosmetics market will add fuel to the growth of micro-encapsulation market further during the assessment period. Innovations in processing technique to increase the production of the micro-encapsulated product will foster its growing need across various industries.
Micro-encapsulation technology has high potential in the global market and is being used in various industries owing to various advantages associated with the technique. However, the major factor restricting the growth of the market is the high cost of production. The machinery used for the encapsulation process is much costly and require skilled labor which eventually increases the cost of production. Moreover, the raw materials used in the process are also expensive and undergo thorough research for the production process.
The global micro-encapsulation market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America region is estimated to retain its dominance throughout the forecast period of 2018-2023. The region is estimated to reach USD 4.23 billion with registering a CAGR of 10.86%. Among the North American country, the U.S. is accounting for the significant market proportion of 76% in the year of 2018, and the trend is expected to continue throughout the forecast period. Europe also expected to hold a market share of 29.1% in the year of 2018 and the region is projected to witness a moderate growth rate of 11.00% during the forecast period of 2018-2023. However, Asia Pacific region is projected to witness the maximum growth rate in the global micro-encapsulation market during the forecast period.
Micro-encapsulation market has been segmented on the basis of technology which comprises spray, emulsion, dripping and others
On the basis of coating material, the micro-encapsulation has segmented into carbohydrates, polymers, lipids, gums & resins, proteins and others
Micro-encapsulation market has been segmented on the basis of an application which are food & beverages, personal care, household’s items, agrochemicals, pharmaceuticals & healthcare and others
The leading market players in the global micro-encapsulation market primarily are Givaudan SA (Switzerland), International Flavors & Fragrance, Inc. (U.S.), Symrise AG (Germany), Balchem Corp. (U.S.), Syngenta AG (Switzerland), BASF SE (Germany), Bayer AG (Germany), Royal FrieslandCampina N.V. (Netherlands), LycoRed Ltd. (Israel), and Encapsys, LLC (U.S.)
• Food & beverages manufacturers
• Micro-encapsulation manufacturers
• Raw material suppliers
• End users (food & beverages industry)
• Retailers and wholesalers
• E-commerce companies
• Traders, importers, and exporters
• Among the technology, spray segment is expected to account for the major market proportion during the forecast period of 2018-2023. On the other hand, the emulsion segment is projected to expand at a substantial growth rate of 11.73% during the forecast period.
• Among the application, pharmaceuticals & healthcare segment is expected to witness a growth rate of 10.98% during the forecast period of 2018-2023. Food & beverages are projected to expand a substantial growth rate of 12.31% during the forecast period.
Regional and Country Analysis of micro-encapsulation Market Development and Demand Forecast to 2023 Market:
As per the MRFR analysis, the global micro-encapsulation market is estimated to reach USD 12.76 billion during the forecast period 2018 to 2023 with registering A CAGR of 11.22%
The reports also cover country-level analysis:
• North America
o Rest of Europe
• Asia Pacific
o Australia & New Zealand
o Rest of Asia Pacific
• Rest of the World
o Latin America
o Middle East