Global Microencapsulation Market Worth USD 9,241.1 Million By 2022
The Global MicroencapsulationMarket will grow at a CAGR of 10.0% from 2017 to 2022 to
reach USD 9,241.1 million by 2022, according to the latest publication from
Meticulous Research®. The global microencapsulation market is
primarily driven by the growing demand from the functional food industry,
pharmaceutical industry for controlled release & targeted release of active
compounds (sustained or delayed release), and agrochemical sector. In addition,
reduction in capsule size and increasing bioavailability, growing need of
multicomponent delivery systems, and emerging economies such as Asia, Latin
America, and the Middle East & Africa region further provides significant
opportunities for the various stakeholders in this market. However, factors
such as high cost of microencapsulation process, and increasing demand for
nano-encapsulation technology, especially in the pharmaceutical application are
expected to hinder the growth of this market to some extent.
The global
microencapsulation market is segmented on the basis of coating material,
technology, application, and geography. Based on coating material, the market
is divided into polysaccharides, lipids & waxes, resins, proteins, and
others; whereas, based on technology, the market is divided into atomization,
emulsion based, spray coating, coextrusion, and others. The atomization segment
commanded the largest share in the overall microencapsulation market in 2016,
owing to the factors such as its ability to handle thermolabile materials, low
process cost, a wide choice of coating material, good encapsulation efficiency,
good stability of the finished product, and the possibility of large-scale
production in continuous mode.
On the basis of
application, the market is divided into pharmaceutical, food and feed, home and
personal care, industrial and chemical, agriculture, and others. The
pharmaceutical application segment held the largest share in the global
microencapsulation market in 2016, owing to the growing use of
microencapsulation in the industry for protection of drug from the environment,
stabilization of sensitive drug substances, elimination of incompatibilities,
or masking of unpleasant taste, conversion of liquid drugs in a free-flowing
powder, and prevention of vaporization of many volatile drugs.
Geographically, the
global microencapsulation market is mainly divided into North America, Europe,
Asia-Pacific, Latin America, and Middle East & Africa. North America
accounted for the major share of the global microencapsulation market in 2016,
followed by Europe and Asia-Pacific region. The major share of the North
American region is mainly attributed to the presence of a large number of
microencapsulation technology providers, and well established functional food,
pharmaceutical, and agrochemical sectors. However, Asia Pacific market slated
to register the fastest growth during the forecast period, primarily due to its
growing economy & industrialization, and booming pharmaceutical, food, and
agriculture industries.
The leading companies
have employed various strategies to expand their product and application
offerings, global footprint, and augment their market shares. The key
strategies followed by most companies in the global microencapsulation market
were mergers & acquisitions, new product launches, and partnership and
expansions. The key players in the global microencapsulation market are
Encapsys, LLC, Reed Pacific Pty Limited, Ronald T Dodge Company, GAT
Microencapsulation GmbH, Capsulae, Microtek Laboratories, Inc., Balchem
Corporation, Lycored, AVEKA, Inc., TasteTech Ltd, INNOBIO
CORPORATION LIMITED, Friesland Campina Kievit, Symrise AG, Koehler
Innovative Solutions, Givaudan SA, and International Flavors & Fragrances
Inc
About Meticulous Research®
MeticulousResearch® is founded in 2010 and incorporated
as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company
under the Companies Act, 1956. Since its incorporation, the company has become
the leading provider of premium market intelligence in North America, Europe,
Asia-Pacific, Latin America, and Middle East & Africa.
Contact
Us:
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Viren Shrivastava
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Global Sales and Marketing
Meticulous
Research®
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Email: viren@meticulousresearch.com
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