According to a report published by Grand View Research, Inc.; the global microencapsulation market is anticipated to accomplish a valuation of around USD 19.34 billion by 2025. Increasing use of the technology in pharmaceuticals and several other end-use industries can propel the market during the forecast period (2014 to 2025). Microencapsulation is used to provide protection to vaccines and active drugs such as cisplatin, naltrexone, lidocaine, insulin, progesterone, peptides, and proteins. Important application of the technology such as drug delivery system, protection of material from weatherization, cell encapsulation, and particle size reduction can drive the growth.
Rising awareness about advantages of the technology is expected to boost the adoption rate in the coming years. The technology provides benefits such as protection of core material, controlled release of core element, and enhanced handling of ingredients. Additionally, the technology can be used in masking taste, odor, and activity of encapsulated ingredients can bode well for the market during the forecast period. Increasing demand for microencapsulated fragrances, flavors, probiotic bacteria, and immobilized enzymes in the food and beverage is expected to drive the market growth in the coming years.
Full Research Report On Microencapsulation Market Analysis: www.grandviewresearch.com/industry-analysis/microencapsulation-market
The technology is also being used in textiles in which sensitive chemicals are utilized to provide a significant effect to the fabric. Increasing demand for cosmetotextiles and different textiles such as insect repellant, photochromic, thermochromic, and antimicrobial is expected to drive the market growth in the coming years.
Worldwide microencapsulation market can be segmented on the basis of coating materials, technology, application, and region. Based on coating materials, the market can be bifurcated into carbohydrates, polymers, gums and resins, lipids, and proteins. The polymers segment captured 27.4% of the total revenue in 2017. This can be ascribed to its broad application scope due to their greater characteristics. As per technology, the market can be categorized into coating, spray technologies, emulsion, dripping, and others. In terms of revenue, the spray technologies segment is projected to display a CAGR of 14.1% throughout the forecast period. Advantages such as high encapsulation efficiency with large-scale production and low processing cost can drive the segment growth. Based on application, the market can be split into home and personal care, pharmaceutical and health care products, food and beverages, construction, agrochemicals, textile, and others. In 2017, the pharmaceutical and healthcare products segment held for more than 65.0% of the total market. This can be attributed to benefits offered by the technology such as masking odor and bitter taste, controlled and sustain drug delivery, and protection of drug from environmental factors. The home and personal care segment is projected to rise at a CAGR of 15.6% due to increasing use of technology in cosmetics and personal care products.
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Geographically, the market can be divided into North America, Europe, Asia Pacific, and Rest of World. North America held for the largest market share in terms of the revenue in 2017 due to high adoption of the technology in pharmaceutical, personal care, and food processing industry. Growing textile industry is also projected to support the regional market in the coming years. The U.S. occupied over 82.0 % of the overall regional market due to high utilization of the technology in pharmaceuticals and healthcare sectors. Europe reported as the second largest market in 2017. This can be credited to availability of raw materials and advanced coating technologies. Countries such as France, Germany, Italy, and the U.K. are the leading contributor in the region due to high adoption of the technology in pharmaceuticals.
Asia Pacific is considered as one of the attractive regions. The region is expected to register CAGR of 15.6% during the forecast period. This can be attributed to growing food processing and pharmaceutical industries in India, China, and Japan. Demand for the technology is high in food and beverage industry for making probiotic bacteria, nutritional supplements, and enzymes. Additionally, thriving detergents market in the region is also anticipated to supplement the regional growth in the years to come.
Prominent companies operating in the microencapsulation market include Dow Corning Corporation, InnoBio Limited, Bayer AG, Ronald T. Dodge Co., and Reed Pacific Pty Ltd.
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