The global microcapsules market accounted for a value of 7.1 billion in 2019. Microcapsules market is projected to register growth at a CAGR of 6.8% during forecast period.
COVID-19 has impacted the microcapsules market significantly across the world. The supply chain of finished products and raw material has declined during COVID period. The demand of microcapsules has been affected.
The demand for microcapsules across various regions is growing rapidly. The people are getting aware and focusing more in healthcare, personal care and food segment. The adopting of oral drug delivery is also increasing immensely. This is likely to drive growth in microcapsules during forecast period.
For more details, visit: Global Microcapsules Market By Manufacturing Process(Food Additives, Fragrances, others), By Technology (Spray, Dripping, Others), By End User (Food and Beverages, Agrochemical, Others), By Region–Forecast & Opportunities to 2026
On the basis of type, the microcapsule market is segmented into food additives, fragrances, pharmaceutical & healthcare drugs, agriculture inputs, phase change materials and others. The pharmaceutical & healthcare drugs segment is estimated to hold highest market share during forecast period. The demand for masking of oral drug flavors in growing significantly across the world. The rise in application of this segment in nutritional elements functional is likely to drive the growth in pharmaceutical & healthcare drugs.
On the basis of technology, the microcapsule market is segmented into spry technologies, dripping technologies, emulsion technologies and others. The dripping technology segment is estimated to register growth at highest CAGR during forecast period. Dripping technologies consists of droplet extrusion by jet breakage systems, spinning disks and co-extrusion. All this technologies are used for hydrophilic, liquid and solid materials. The demand for this technology is rising due to its advantages such as low particle size distribution and biocompatibility etc. The demand for microencapsulated ingredients in pharmaceutical sector is growing significantly across the world. This is expected to drive growth in dripping technologies segment during forecast period.
On the basis of end-use, the microcapsules market is segmented into textile, food & beverages, agrochemical, household & personal care, pharmaceutical & healthcare and others. The pharmaceutical & healthcare segment is estimated to register growth at highest CAGR during forecast period. The beneficial properties such as timey functional ingredient delivery, taste making and controlled drug release are driving growth in this segment during forecast period.
North America region is estimated to hold largest market share during forecast period. The demand for microcapsules is rising in this region. Various end-use industries are using microcapsules at large scale. The growing healthcare sector is contributing in growth of microcapsules in North America region. The awareness among consumer in healthcare, personal care and food segment is also increasing immensely and they are adopting microcapsules for oral drug delivery at large scale.
The key market players in microcapsules industry are Arcade Beauty, Balchem Corporation, BASF, Brace GmbH, Capsulae, DSM, Encapsys, Firmenich, Givaudan, Lycored Corp., Koninklijle Dsm, Koehler Innovation, International Flavors & Frangrances and Insilico.
- What are the expected industry trends over the next three to five years?
- Which of the microcapsules technology is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?