Micro-Encapsulation Market Size, Share, Trend, Gross Margin, Top Key Players Review and Forecast to 2023

Market Overview:

Micro-encapsulation is a process designed to reducing the size of particles while retaining its original value. The need for integration of food ingredients, enzymes, cells, and different materials on a smaller metric scale has brought the technology to the forefront. The global micro-encapsulation market size is anticipated to touch USD 12,761.2 million by 2023, as per an in-depth report by Market Research Future (MRFR). It is expected to expand at an 11.22% CAGR during the assessment period (2018-2023) owing to pressing demand for functional foods. Prevalence of various health disorders and inclination of consumers towards a healthy lifestyle can bolster market growth during the forecast period. Outstanding benefits associated with micro-encapsulation technology such as prevention of edible dietary supplement and nutrient additives by surrounding them inside a covering is having a positive impact on  the growth of global micro-encapsulation market. Furthermore, wide use of this technology in fragrance micro-encapsulation, healthcare industry is adding fuel in the growth of global micro-encapsulation market. Additionally, extraordinary demand of high performance cleansers from the household & personal care industry is likely to surge the global microencapsulation market.

Asia Pacific is projected to show a significant growth in the micro-encapsulation market over the forecast period 2017-2023. India, China, and Japan are leading this market and are expected to be dominating players over the review period as well. Increasing demand of micro-encapsulation from the functional food and pharmaceutical industry is considered to be the key driving factors in this region.  Additionally, growing awareness about health & well-being among individuals coupled with rising purchasing power and changing dietary preferences has surged in the demand for global micro-encapsulation market. Furthermore, rapid growth in the pharmaceutical and functional food industries is likely to fuel the demand for micro-encapsulation in these regions over the review period. However, high cost of micro-encapsulation process and increasing demand for nano-encapsulation technology are expected to hinder the market growth over the forecast period.  Asia Pacific micro-encapsulation market is estimated to grow at a CAGR of 10.5% during the forecast period 2017-2023.

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Major Key Players:

This report includes a study of strategies such as mergers, acquisitions, and product launches by the major micro-encapsulation players. It further includes product portfolios, developments of leading players, which includes

The key players involved in this strategy 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), Encapsys, LLC (U.S.)

Key Findings:

In May 2017, Givaudan SA has announced to open new fragrance encapsulation centre in Singapore

Micro-encapsulation have a massive opportunity in functional food industry

In November 2016, BASF SE has collaborated with UC Davis in order to come up with development in micro-encapsulation technology

Segments:

Micro-encapsulation is segmented on the basis of technology, which includes spray, emulsion, dripping technology, and others. Among all, the spray technology segment is dominating owing to its increasing usage in functional foods and supplements.

Micro-encapsulation is segmented on the basis of coating material, which includes carbohydrates, polymers, lipids, gums & resins, proteins, and others. Among all, the carbohydrates segment is dominating owing to its high use in the foods & beverages industry. Additionally, approval by the regulatory authorities on the use carbohydrate as coating materials is supporting this segment to grow.

Micro-encapsulation is segmented on the basis of application, which includes foods & beverages, personal care & household, agrochemicals, pharmaceutical & health care, and others. Among all, the pharmaceutical & healthcare products segment is dominating owing to increased consumption of micro-encapsulated ingredients such as drugs & nutrients.

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Regional Analysis:

The Global Micro-Encapsulation Market is segmented into Europe, North America, Asia Pacific, and rest of the world (RoW). North America is dominating the micro-encapsulation market followed by Europe. This is attributed by the increasing use of micro-encapsulation technology due to the increasing population and demand for food & beverage products.

Additionally, the major key players are actively involved in research & developments to develop new coating material in compliance to North American regulations for micro-encapsulation. Furthermore, in Asia Pacific region, India accounts for a major market share owing to increasing demand for functional food, beverages and pharmaceutical products.

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This release was published on openPR.