Asia Pacific is projected to show a significant growth in the micro-encapsulation market over the forecast period 2017-2023. China, India 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 projected to grow at a CAGR of 10.5% during the forecast period 2017-2023.
Micro-Encapsulation is a process designed to reducing the size of particles while retaining its original value. The need for integration of food ingredients, cells, enzymes and different materials on a smaller metric scale has brought the technology to the forefront. The Global Micro-Encapsulation Market size is expected to touch USD 12,761.2 million by 2023, as per an in-depth report by Market Research Future (MRFR). It is estimated 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.
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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 Symrise AG (Germany), Givaudan SA (Switzerland), Syngenta AG (Switzerland), International Flavors & Fragrance, Inc. (U.S.), Balchem Corp. (U.S.), BASF SE (Germany), Bayer AG (Germany), Royal FrieslandCampina N.V. (Netherlands), LycoRed Ltd. (Israel), Encapsys, LLC (U.S.)
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
Micro-encapsulation is segmented based on technology, which includes Emulsion, Spray, 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 based on Coating Material, Which Includes Polymers, Carbohydrates, 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 based on application, which includes Foods & Beverages, Pharmaceutical & Health Care, Personal Care & Household, Agrochemicals 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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Micro-Encapsulation Market is segmented into Europe, Asia Pacific, North America 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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