Microencapsulation Market Analysis, Growth, Share, Trends, and Forecast - 2023 | Top Key Players are BASF, Royal FrieslandCampina, Syngenta Crop Protection, Koninklijke DSM, Givaudan , Firmenich, Balchem Corporation, Koehler Innovative Solutions

The report "Microencapsulation Market by Technology (Spray, Emulsion, Dripping), Core Material (Pharma & Healthcare Drugs, PCM, Food Additives, Fragrances), Application (Pharma, Household, Agrochemicals, Textiles), Shell Material, and Region - Global Forecast to 2023" The global microencapsulation market was valued at USD 6.3 billion in 2018 and is projected to reach USD 11.8 billion by 2023 at a CAGR of 11.4% from 2018 to 2023. The market is driven by factors such as the increasing demand for fortified food products with health benefits, the increasing demand for agrochemicals due to its controlled release property, growth in construction and construction materials, as well as the widespread application in household & personal care.

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By application, the pharmaceuticals and healthcare products segment is projected to account for the largest share in the market

Microencapsulation is widely used in the healthcare and pharmaceutical sector for controlled drug delivery. Microencapsulation technologies are extensively used by pharmaceutical companies to mask the bitter taste or smell in drugs and to provide targeted delivery and controlled delivery. The demand for microencapsulated biomolecules is increasing in the pharmaceutical industry due to functions such as targeted action. Thus, the development of drugs based on these biomolecules is expected to boost the demand for microencapsulation for effective and targeted delivery of the active ingredients.

By core material, the pharmaceuticals & healthcare drugs segment accounted for the largest market size in the market during the forecast period

The pharmaceuticals & healthcare drugs segment holds the largest market share in the global market due to its various applications. Microencapsulation technology is a cost-effective option for increasing the bioavailability of drugs, as compared to other technologies.

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North America is projected to account for the largest market share during the forecast period

North America constitutes a 36.5% market share of the microencapsulation market. The market for microencapsulation in the North American region is driven by the growing demand and awareness about value-added products for various areas such as nutrition, food, healthcare, and personal care. Due to this awareness and increased demand, companies are focusing on manufacturing functional products with novel technologies such as microencapsulation.

Key Market Players:

The key players profiled in this 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).

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