Microcapsule Market | Key players operating in the market include BASF SE, Symrise AG, Givaudan S.A., Lycored Corp., Balchem Corp

According to recent market research "Microcapsule Market by Technology (Spray, Emulsion and Dripping), End-user Industry (Pharmaceuticals & Healthcare, Food, Household & Personal Care, Textiles, Agrochemicals), Shell Material, Core Material & Region - Global Forecast to 2026", The microcapsule market is projected to grow from USD 8.4 billion in 2021 and is projected to reach USD 13.4 billion by 2026, registering a CAGR of 9.8% from 2021 to 2026. The increasing demand of microcapsule from the pharmaceuticals & healthcare industry is one of the major factor contributing to the high growth of this market.

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There are various types of shell materials available for producing microcapsule, which include melamine formaldehyde, carbohydrates, gums & resins, other polymers, lipids and proteins. Among all these materials, carbohydrates segment is estimated to record highest growth in the microcapsule market during the forecast period. This is mainly due to the growing use of carbohydrates shell material in the food industry.

Based on end-user industry, the pharmaceuticals & healthcare segment dominates the market during the forecast period. The growing use of microcapsules in the pharmaceuticals and healthcare industry for various applications such as controlled release of drugs and taste masking boosts growth of this segment. Food segment is projected to be the second-largest industry in the microcapsule market in 2021.

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The microcapsule market is projected to grow from USD 8.4 billion in 2021 to USD 13.4 billion by 2026, at a CAGR of 9.8% from 2021 to 2026, owing to increasing demand from the pharmaceuticals & healthcare industry. The household and personal care industry is expected to register the highest CAGR from 2021 to 2026. The high growth of the household and personal care industry is due to the rising spending on personal care products by consumers across the world.

The key market players in the microcapsule market are BASF SE (Germany), Syngenta Crop Protection AG (Switzerland), Royal FrieslandCampina N.V. (Netherlands), Koninklijke DSM N.V. (Netherlands), Givaudan S.A. (Switzerland), Firmenich S.A. (Switzerland), Symrise AG (Germany), International Flavors & Fragrances (US), Lycored Corp. (Israel), and Sensient Technologies Corporation (US). These players have adopted expansions, acquisitions, product launches, investments, partnerships, joint ventures, mergers, collaborations, agreements, and divestments as their growth strategies to meet the growing demand for microcapsules.

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BASF SE is the leading player in the global microcapsule market. In August 2018, BASF SE’s animal nutrition division launched the Lucantin NXT product line in the European Union, which would be gradually followed in other countries. The carotenoid formulation of Lucantin NXT met the regulation (EC) No. 2017/962, which requires the withdrawal of ethoxyquin (EQ) as a feed additive. The product launch helped the company expand and strengthen its geographical footprint in the microcapsule animal nutrition market.

Another important player in the global microcapsule market is Givaudan S.A. In May 2019, Givaudan S.A. launched Spherulite R10, a microencapsulated stabilized retinol. This product is manufactured using a microencapsulation technology called spherulite technology that offers faster and superior anti-aging clinical efficacy than free retinol. The product development helped the company to enhance its position in the beauty industry on a global level.

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