Micro-Encapsulation Market: by Technology (Spray), Coating Material (Carbohydrates), Application (Foods & Beverages) and Region - Forecast till 2023
Pune, India -- (SBWIRE) -- 01/10/2018 -- Market Overview:
Micro-encapsulation method is widely used in food, beverage, pharmaceutical, personal care, and agrochemical products with the help of spray, emulsion, and dripping technologies. Extensive use in various industries to enhance product functionality has increased the demand for micro-encapsulation method.
Increasing demand from the functional food and pharmaceutical industries for targeted delivery of active compounds is driving the growth of the global micro-encapsulation market. Furthermore, increasing demand of multi-component delivery system provides significant opportunities in the micro-encapsulation market. Additionally, increasing disposable income is anticipated to drive the demand for fortified and other high performance food products, which in turn, is projected to drive the demand for micro-encapsulation during the review period.
Moreover, growing awareness and increased demand for fortified food products from the pharmaceutical industry coupled with the new technologies are the key factors driving the growth of global micro-encapsulation market. However, heavy expenses incurred on machinery and R&D activities are considered to be the major challenge to this market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 10.0% of micro-encapsulation market during the forecast period 2017-2023.
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Major Key Players:
The major players in Micro-Encapsulation Market,
International Flavors & Fragrances Inc. (U.S.)
Koninklijke Friesland Campina NV (the Netherlands)
Bayer Corporation (U.S.)
Encapsys, LLC (U.S.)
LycoRed Corp. (U.S.)
Givaudan SA (Switzerland)
BASF SE (Germany)
Syngenta AG (Switzerland)
Balchem Corporation (U.S.)
Symrise AG (Germany)
Micro-encapsulation is segmented on the basis of technology, which includes spray, emulsion, 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 on the basis of coating material, which includes carbohydrates, polymers, lipids, gums & resins, proteins, and others. Among all, the carbohydrates segment is dominating owing to its high use in the foods & beverages industry.
Micro-encapsulation is segmented on the basis of application, which includes foods & beverages, personal care & household, agrochemicals, pharmaceutical & health care, and others. Among all, the pharmaceutical & healthcare products segment is dominating owing to increased consumption of micro-encapsulated ingredients such as drugs & nutrients.
The global micro-encapsulation market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the global micro-encapsulation market. Advancements in the healthcare industry have uplifted the use of micro-encapsulation technology in the pharmaceutical industry. Furthermore, increasing consumer acceptance of functional food and personal care products in North American region has a positive impact on the global micro-encapsulation market. Additionally, the major key players are actively involved in research & developments to develop new coating material in compliance with the North American regulations for micro-encapsulation.
Furthermore, in Asia Pacific region, India accounts for a major market share owing to increasing demand for functional foods and beverages and pharmaceutical products.
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Micro-Encapsulation Market is segmented on the basis of technology, coating material, application, and region