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Microencapsulation Market - Global Industry Analysis 2020 | Research Report
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On the basis of application, the microencapsulation market is categorized into household products, pharmaceuticals, food additives, agrochemicals, and others such as commodity and specialty chemicals for industries. Accounting for more than 65% of the microencapsulation market in 2013, pharmaceuticals formed the largest application segment. Microencapsulation in the pharmaceuticals industry allows for targeted drug delivery and release, sustained and controlled release of active ingredients, and masking of chemicals odors. Microencapsulated dietary supplements, nutrients, food enzymes, preservatives, and prebiotics help improve the texture, taste, shelf life, and nutrient content of food products. The demand for antimicrobial cleaning agents and fragrant detergents, and changing consumer preferences toward prebiotics and dietary supplements is expected to make household products and food additives the fastest developing application segments by the end of the forecast period.
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By region, the global microencapsulation market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America and Europe together held 70% of the global microencapsulation market in 2013, driven by advanced healthcare industries, large-scale usage of microencapsulation technology in pharmaceutical and biotechnological research, and increased acceptance of functional food additives. However, growing consumer awareness regarding the benefits of microencapsulation technology, rise in purchasing power, rapid growth of industries such as surfactants, pharmaceuticals, and food, and changing dietary and retail preferences are likely to boost the microencapsulation market in Asia Pacific and Rest of the World. The report indicates that the Asia Pacific region is expected to develop at a 10.5% CAGR owing to rising demand from numerous applications, making it the most rapidly growing regional market for microencapsualtion.
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Major players providing customized microencapsulation solutions to clients across a wide range of application industries include Capsulae, Dow Corning Corporation, Reed Pacific, Evonik Industries AG, 3M, Encapsys, Aveka, Inc., Taste Tech Ltd., Microtek Laboratories, Inc., Lipo Technologies, BASF S.E., Ronald T. Dodge Company, Balchem Corporation, GAT Microencapsulation GmbH, and Bayer AG.
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