Microencapsulation Market

Microencapsulation Market by Technology (Spray, Emulsion, Dripping), Core Material (Pharma & Healthcare Drugs, PCM, Food Additives, Fragrances), Application (Pharma, Household, Agrochemicals, Textiles), Shell Material, and Region - Global Forecast to 2023

Report Code: FB 5546 Mar, 2019, by marketsandmarkets.com

[202 Pages Report] The global microencapsulation market is estimated to be valued at USD 6.3 billion in 2018 and is projected to reach USD 11.8 billion by 2023, at a CAGR of 11.4% from 2018 to 2023. The increasing applications of microencapsulated products across various industries, the growing demand for pharmaceutical and agrochemical products, and the increasing demand for functional food products are some of the factors driving the growth of the market.

Microencapsulation Market

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Client’s Problem Statement

A Europe-based microencapsulation service provider was keen to enter the North American market. The senior management wanted to understand the market demand for microencapsulation in different application areas.

MnM Approach

MNM provided a holistic view of the North American market with regard to prospects for microencapsulation in the region. We identified application areas with the highest growth opportunities, such as fortified foods & beverages, sports nutrition, pharmaceuticals, and agrochemicals.
We also interviewed potential customers in end-use industries to understand their requirements for microencapsulation and supply chain experts and other intermediaries to provide insights to help create an effective supply-chain strategy. Different aspects, including pricing and existing microencapsulation technologies offered by existing players, were also mapped by MNM.

Revenue Impact (RI)

Our findings enabled the client to gain a better understanding—including innovations in microencapsulation technologies, new application areas, development in raw materials, and effective competitor strategies followed in the market—of the regional market scenario. This allowed the client to strategize and create a more targeted product offering. The client was able to devise its market penetration strategy and target new revenue streams, with projections of USD 125–140 million in five years. The client was able to identify profitable application areas with a high degree of customer acceptance for the product in the region.

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Market Dynamics

Increase in demand for fortified food products with health benefits

The demand for microencapsulation is increasing with the growth in demand for functional and fortified food & pharmaceutical products. It provides integration of minerals, vitamins, flavors, essential oils, and other additives in food products to enhance the functional properties of products. The pharmaceutical sector is also greatly influenced by microencapsulation technologies due to the benefits achieved by the manufacturers. Along with the encapsulation of drugs, other active ingredients such as peptides, proteins, and DNA/RNA molecules are also encapsulated in the pharmaceutical sector to meet the market demand for value-added products.

High cost associated with the microencapsulation process

Although a large number of market players have adopted the microencapsulation technology in various industries, constant R&D is required to sustain in the market. The high cost of R&D resources, along with the processing technology, is hindering the market growth. The development of microencapsulated material is sometimes customized, and at times is required to be carried out at an industrial scale instead of a pilot scale. This increases the processing cost of products and ultimately leads to an increase in their cost.

Due to this increased product cost, the use of this technology gets limited for the following:

  • Products that have a high value
  • Products or processes that are not possible without microencapsulation
  • Products where the economies of scale can be applied.

Hence, the adoption of microencapsulation in several industries is difficult, as its use makes high-value products, which are not easily preferred in the market. It is an additional cost, which has to be minimized to be economically acceptable. This applies not only to the materials used to make the microcapsules but also to the equipment or processing conditions. The number of food-grade materials suitable for microencapsulation is also limited.

Food & beverage manufacturers with small and medium-sized facilities prefer to opt for traditional preservation techniques, as microencapsulation technologies can be expensive. New markets are being established within the functional foods sector, and research to meet this demand is underway to reduce high production costs.

The cost of production of controlled release fertilizers is much higher than that of conventional soil-applied fertilizers due to the complex production process they require. According to the International Fertilizer Association, the cost of controlled release fertilizer about four to six times higher than that of the conventional NPK (nitrogen, phosphorus, and potash) fertilizer. This acts as one of the major restraints for the microencapsulation market.

By application, the pharmaceuticals and healthcare products segment is projected to account for the largest share in the global market

Microencapsulation is widely used in the healthcare and pharmaceutical sector for controlled drug delivery. Microencapsulation technologies are extensively used by pharmaceutical companies to mask the bitter taste or smell in drugs and to provide targeted delivery and controlled delivery. The demand for microencapsulated biomolecules is increasing in the pharmaceutical industry due to functions such as targeted action. Thus, the development of drugs based on these biomolecules is expected to boost the demand for microencapsulation for effective and targeted delivery of the active ingredients.

By technology, the spray technologies segment accounted for the largest market size in the global market during the forecast period

The spray technologies segment holds the largest market share in this market. This due to the benefits offered by the microencapsulation process, which includes high production capacity, high recovery efficiency, the simplicity of the process, cost efficiency, and process safety. Spray technologies are widely used in the large scale manufacturing of food and pharmaceutical grade microencapsulation.

By core material, the pharmaceuticals & healthcare drugs segment accounted for the largest market size in the microencapsulation market during the forecast period

The pharmaceuticals & healthcare drugs segment holds the largest market share in the global market due to its various applications. Microencapsulation technology is a cost-effective option for increasing the bioavailability of drugs, as compared to other technologies.

Microencapsulation Market

North America is projected to account for the largest market share during the forecast period

North America constitutes a 36.5% market share of the market. The market for microencapsulation in the North American region is driven by the growing demand and awareness about value-added products for various areas such as nutrition, food, healthcare, and personal care. Due to this awareness and increased demand, companies are focusing on manufacturing functional products with novel technologies such as microencapsulation.

Key Market Players

The key players profiled in the microencapsulation market include BASF (Germany), Royal FrieslandCampina (Netherlands), Syngenta Crop Protection (Switzerland), Koninklijke DSM (Netherlands), Givaudan (Switzerland), Firmenich (Switzerland), Symrise (Germany), International Flavors & Fragrances (US), Sensient Technologies (US), Lycored Corp. (UK), Balchem Corporation (US), Encapsys (US), Arcade Beauty (US), and Koehler Innovative Solutions (Germany). These companies are focusing on strategies such as new product launches, expansions & investments, acquisitions, agreements, collaborations, joint ventures, and partnerships to expand their operations across the globe.

Scope of Report

Report Metric

Details

Market size for available years

2016-2023

Base year considered

2017

Forecast period

2018-2023

Forecast units

Value (USD)

Segments covered

Application, Technology, Core material, Shell material, and Region

Geographies covered

North America, Europe, Asia Pacific, and RoW

Companies covered

BASF (Germany), Royal FrieslandCampina (Netherlands), Syngenta Crop Protection (Switzerland), Koninklijke DSM (Netherlands), Givaudan (Switzerland), Firmenich (Switzerland), Symrise (Germany), International Flavors & Fragrances (US), Sensient Technologies (US), Lycored Corp. (UK), Balchem Corporation (US), Encapsys (US), Arcade Beauty (US), and Koehler Innovative Solutions (Germany)

This research report categorizes the global market on the basis of application, technology, core material, shell material, and region.

On the basis of application, the market has been segmented as follows:

  • Pharmaceuticals and healthcare products
  • Food & beverages
  • Household and personal care products
  • Agrochemicals
  • Construction materials
  • Textiles
  • Others (energy, defense, and paper & printing)

On the basis of technology, the microencapsulation market has been segmented as follows:

  • Spray technologies
  • Emulsion technologies
  • Dripping technologies
  • Others (coating, physicochemical, and chemical technologies)

On the basis of core material, the market has been segmented as follows:

  • Pharmaceutical & healthcare drugs
  • Food additives
  • Fragrances
  • Agricultural inputs
  • Phase change materials
  • Others (construction chemicals, inks, energy molecules, and household & personal care products)

On the basis of shell material, the microencapsulation market has been segmented as follows:

  • Polymers
  • Gums & resins
  • Liquids
  • Carbohydrates
  • Proteins

On the basis of region, the market has been segmented as follows:

  • North America
  • Europe
  • Asia Pacific
  • RoW (includes South America and  the rest of the world)

Key questions addressed by the report

  • What are the growth opportunities for the market?
  • What are the major technologies used in the microencapsulation market?
  • What are the key factors affecting market dynamics?
  • What are the several applications of microencapsulation in various industries?
  • What are some of the major challenges and restraints that the industry faces?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction 
     1.1 Objectives of the Study 
     1.2 Market Definition 
     1.3 Market Scope 
            Figure 1 Microencapsulations Market Segmentation 
            Figure 2 Geographic Scope 
            1.3.1 Periodization Considered 
     1.4 Currency Considered 
            Table 1 USD Exchange Rates Considered, 2015–2017 
     1.5 Stakeholders 

2 Research Methodology 
     2.1 Research Data 
            Figure 3 Microencapsulation Market: Research Design 
            2.1.1 Secondary Data 
                     2.1.1.1 Key Data From Secondary Sources 
            2.1.2 Primary Data 
                     2.1.2.1 Key Data From Primary Sources 
                     2.1.2.2 Breakdown of Primary Interviews 
                                Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region 
     2.2 Market Size Estimation 
            Figure 5 Market Size Estimation Methodology: Top-Down Approach 
            Figure 6 Market Size Estimation Methodology: Bottom-Up Approach 
     2.3 Market Breakdown and Data Triangulation 
            Figure 7 Market Breakdown and Data Triangulation 
     2.4 Research Assumptions & Limitations 
            2.4.1 Assumptions 
            2.4.2 Limitations 

3 Executive Summary 
     Figure 8 Microencapsulation Market Snapshot, By Core Material, 2018 Vs. 2023 (USD Billion) 
     Figure 9 Asia Pacific is Projected to Be the Fastest-Growing Market for Microencapsulation From 2018 to 2023 
     Figure 10 Microencapsulation Market Size, By Technology, 2018–2023 (USD Billion) 
     Figure 11 Microencapsulation Market Size, By Application, 2018 Vs. 2023 (USD Billion) 
     Figure 12 Microencapsulation Market Share (Value), By Region, 2017 

4 Premium Insights 
     4.1 Opportunities in the Microencapsulation Market 
            Figure 13 Increase in Demand for Functional Products to Drive the Growth of the Microencapsulation Market 
     4.2 Microencapsulation Market: Key Countries 
            Figure 14 China is Projected to Be the Fastest-Growing Country-Level Market for Microencapsulation From 2018 to 2023 
     4.3 Microencapsulation Market, By Application and Region 
            Figure 15 North America Dominated the Microencapsulation Market in 2017 
     4.4 Microencapsulation Market, By Core Material 
            Figure 16 Pharmaceutical & Healthcare Drugs to Dominated the Market Through 2023 
     4.5 Developed Vs. Developing Countries in the Microencapsulation Market 46
            Figure 17 Developing Countries to Emerge at Higher Growth Rates During the Forecast Period 
     4.6 North America: Microencapsulation Market, By Technology, 2017 
            Figure 18 North America: Microencapsulation Market, By Technology, 2017 

5 Market Overview 
     5.1 Introduction 
            Table 2 Reasons for Microencapsulation in the Food & Pharmaceutical Industries 
     5.2 Future Trends 
            Table 3 Trends in the Application of Microcapsules in Various Industries 
            5.2.1 Food Industry 
     5.3 Regulatory Framework Governing the Microencapsulation Market 
            5.3.1 Codex Alimentarius Commission (CAC) 
                     5.3.1.1 Joint Expert Committee Food and Agriculture (JECFA) 
            5.3.2 FDA
            5.3.3 European Commission 
     5.4 Countrywise Regulatory Authorities for Microencapsulation in Food 
            5.4.1 North America 
                     5.4.1.1 US 
                     5.4.1.2 Canada 
            5.4.2 Europe 
            5.4.3 Asia Pacific 
                     5.4.3.1 Japan 
                     5.4.3.2 India 
                     5.4.3.3 China 
            5.4.4 Rest of the World 
                     5.4.4.1 Brazil 
                     5.4.4.2 Australia & New Zealand 
     5.5 Market Dynamics 
            Figure 19 Market Dynamics: Microencapsulation Market 
            5.5.1 Drivers 
                     5.5.1.1 Increase in Demand for Fortified Food Products With Health Benefits 
                                Figure 20 Increase in Per Capita Healthcare Expenditure in Major Economies, 2012–2015 
                                5.5.1.1.1 Increase in Demand From the Food Industry 
                                             5.5.1.1.1.1 Increase in Demand for Use in Functional Food 
                                             5.5.1.1.2 Rise in Demand in the Pharmaceutical Industry 
                                                          Figure 21 Chronic Diseases Were Among the Top 10 Causes of the Deaths in 2015 
                                                          5.5.1.1.2.1 Controlled Drug Delivery 
                                                          5.5.1.1.2.2 Targeted Drug Delivery 
                     5.5.1.2 Rise in Demand From the Agrochemicals Sector 
                                5.5.1.2.1 Controlled Release Technique to Enhance the Efficiency of Agrochemicals 
                                5.5.1.2.2 Controlled Release Application for Convenience in Use 
                                5.5.1.2.3 Reduced Application Cost 
                                5.5.1.2.4 Increase in Environmental Concerns 
                     5.5.1.3 Increased R&D Activities for Process Efficiency to Enhance Market Penetration 
                     5.5.1.4 Increased Consumer Demand for Functional Products 
                     5.5.1.5 Widespread Applications of Microencapsulation 
                                Table 4 Major Applications of Microencapsulation in Various Industries 
                                5.5.1.5.1 Rise in Demand to Enhance Product Functionality 
            5.5.2 Restraints 
                     5.5.2.1 High Cost Associated With the Microencapsulated Process 
            5.5.3 Opportunities 
                     5.5.3.1 Development of Advanced Technologies to Tap Niche Markets 
                                5.5.3.1.1 Reduction in Capsule Size and Increase in Bioavailability 
                                             Table 5 Microencapsulation Methods, Cores, and the Size of Capsules 
                                5.5.3.1.2 Need for Multi-Component Delivery Systems 
                     5.5.3.2 Emerging Economies to Provide High Growth Opportunities 
                                5.5.3.2.1 Government Support and Rising Economy in Developing Countries 
            5.5.4 Challenges 
                     5.5.4.1 Stability of Microencapsulated Ingredients in A Varying Atmosphere 
                     5.5.4.2 Regulatory Hindrance 
                                Table 6 Maximum Permissible Residue Level of Formaldehyde in Textiles & Other Products 
                     5.5.4.3 Technical Constraints Associated With High Costs 
                     5.5.4.4 Selection of Technology 
     5.6 Value Chain 
            5.6.1 Introduction 
            5.6.2 Value Chain Analysis 
                     Figure 22 Microencapsulation: Development and Production Accounts for the Maximum Contribution to the Cumulative Value 

6 Microencapsulation Market, By Application 
     6.1 Introduction 
            Table 7 Microencapsulation Methods and Applications 
            Figure 23 Microencapsulation Market Size, By Applications, 2018 Vs. 2023 (USD Million) 
            Table 8 Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
     6.2 Pharmaceutical & Healthcare Products 
            6.2.1 Increasing Demand for Controlled Drug Delivery System to Drive the Microencapsulation Market 
            Table 9 Microencapsulated Drugs and Biopharmaceutics 
            Table 10 Pharmaceutical & Healthcare Products: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 
     6.3 Food & Beverages 
            6.3.1 Increasing Demand for Fortified Food and Beverages to Drive the Microencapsulation Market 
                     Table 11 Applications of Microencapsulation of Probiotic Bacteria 
                     Table 12 Methods for Encapsulating Food Ingredients 
                     Table 13 Food & Beverages: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 
     6.4 Household & Personal Care Products 
            6.4.1 Demand for Fragrances and Essential Oils Drives the Market in Household & Personal Care 
                     Table 14 Household & Personal Care Products: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 
     6.5 Agrochemicals 
            6.5.1 Controlled Release Technique of Microencapsulation to Enhance the Efficiency of Agricultural Operations
                     Table 15 Agrochemicals: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 
     6.6 Construction Materials 
            6.6.1 Dual Change Temperature Control and Energy Saving to Drive the Microencapsulated Pcm Market in Construction 
                     Table 16 Applications of Microcapsules in Construction Materials 
                     Table 17 Construction Materials: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 
     6.7 Textiles 
            6.7.1 Heat Storage Capacity of PCM to Enhance the Microencapsulation Market in Textiles 
                     Table 18 Textiles: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 
                     Table 19 Textile Microencapsulation Market Size, By Core Material, 2016 - 2023 (USD Million) 
                     Table 20 Textile Microencapsulation Market Size, By Technology, 2016 - 2023 (USD Million) 
     6.8 Others 
            Table 21 Others: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 

7 Microencapsulation Market, By Technology 
     7.1 Introduction 
     Table 22 Technologies for Microencapsulation 
     Figure 24 Microencapsulation Market Size, By Technology, 2018 Vs. 2023 (USD Million) 
     Table 23 Microencapsulation Techniques With Their Relative Particle Size Ranges 
     Table 24 Microencapsulation Market Size, By Technology, 2016–2023 (USD Million) 
     7.2 Spray Technologies 
            7.2.1 Spray Drying 
                     7.2.1.1 Demand for Fortified Food Products is Projected to Drive the Market for Spray Drying Microencapsulation 
            7.2.2 Spray Chilling 
                     7.2.2.1 Growing Demand for Microencapsulated Food Additives to Drive the Market Demand 
                                Table 25 Spray Technologies: Microencapsulation Market Size,By Region, 2016–2023 (USD Million) 
     7.3 Emulsion Technologies 
            7.3.1 in Situ Polymerization 
                     7.3.1.1 The Advancement of Polymerization Techniques in Microencapsulated Drugs, Colors & Fragrance Applications 
            7.3.2 Coacervation 
                     7.3.2.1 Demand for Essential Oils, Flavours and Fragrances is Projected to Drive the Market for Coacervation Technologies 
            7.3.3 Sol-Gel Encapsulation 
                     7.3.3.1 The Advancement of Sole Gel Encapsulation Techniques in Microencapsulation of Construction Materials to Drive the Market Demand 
                                Table 26 Emulsion Technologies: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 
     7.4 Dripping Technologies 
            7.4.1 Spinning Disk/Rotational Suspension Separation 
                     7.4.1.1 Atomization, High Production, and Scalability to Drive the Demand for Spinning Disk/Rotating Suspension Separation Technique 
            7.4.2 Centrifugal Extrusion 
                     7.4.2.1 Growing Demand for Microencapsulated Active Ingredients in Pharmaceutical Industry to Drive the Market Growth 
                                Table 27 Dripping Technologies: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 
     7.5 Other Technologies 
            7.5.1 The Need for Flavor Masking and Nanoencapsulation are Trending in the Market 
                     Table 28 Other Technologies: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 

8 Microencapsulation Market, By Core Material 
     8.1 Introduction 
            Table 29 Microencapsulation Process and Applicable Core Material 
            Figure 25 Microencapsulation Market Size, By Core Material, 2018 Vs. 2023 (USD Million) 
            Table 30 Microencapsulation Market Size, By Core Material, 2016–2023 (USD Million) 
     8.2 Agricultural Inputs 
            8.2.1 Microencapsulation of Agricultural Inputs Mitigates the Environmental and Health Risks 
            Table 31 Microencapsulation Market Size for Agricultural Inputs, By Region, 2016–2023 (USD Million) 
     8.3 Food Additives 
            8.3.1 Acidulants, Flavoring & Coloring Agents, and Vitamins & Minerals are Largely Encapsulated for Food Fortification 
                     Table 32 Microencapsulation Market Size for Food Additives, By Region, 2016–2023 (USD Million) 
     8.4 Pharmaceutical & Healthcare Drugs 
            8.4.1 Growing Demand for Flavor and Color Masking in Oral Dosages to Drive Microencapsulation Market 
                     Table 33 Potential Benefits of Microencapsulation of Nutraceuticals 
                     Table 34 Microencapsulation Market Size for Pharmaceutical & Healthcare Drugs, By Region, 2016–2023 (USD Million) 
     8.5 Fragrances 
            8.5.1 Fragrances to Be the Leading Core Materials in Microencapsulation Market 
                     Table 35 Microencapsulation Market Size for Fragrances, By Region, 2016–2023 (USD Million) 
     8.6 Phase Change Materials 
            8.6.1 Textile and Construction to Drive the PCM Market 
                     Table 36 Microencapsulation Market Size for Phase Change Materials, By Region, 2016–2023 (USD Million) 
     8.7 Others 
            8.7.1 Inks and Carbonless Paper to Drive the Market in Paper Industry 
                     Table 37 Microencapsulation Market Size for Other Core Materials, By Region, 2016–2023 (USD Million) 

9 Microencapsulation Market, By Shell Material 
     9.1 Introduction 
            Table 38 Core Materials Used in Microencapsulation 
            Figure 26 Microencapsulation Market Size, By Shell Material, 2018 Vs. 2023 (USD Million) 
            Figure 27 Market Size, By Core & Shell Material, 2017 
            Table 39  Market Size, By Core & Shell Material, 2016 - 2023 (USD Million) 
            Table 40 Microencapsulation Shell Material Market Size, By Shell Material, 2016 - 2023 (USD Million) 
     9.2 Polymers 
            Table 41 Biodegradable and Non-Biodegradable Polymer Shell Materials in Microencapsulation 
            9.2.1 Polyurea & Melamine Formaldehyde 
                     9.2.1.1 Polyurea/Urethane is the Most Versatile Shell Materials 
     9.3 Gums & Resins 
            9.3.1 The Demand for Food Inclusions Drives the Gums Market 
     9.4 Lipids 
            9.4.1 Increasing Applications in Emulsion Technology Drives the Market for Lipid Shell Material 
     9.5 Carbohydrates 
            9.5.1 Cellulose Derivatives are the Largely Used Shell Materials for Food, Pharma, and Cosmetic Applications 
            9.5.2 Cellulose 
                     9.5.2.1 Organic Components are Preferred in Major Applications 
     9.6 Proteins 
            9.6.1 Gelatin-Based Microcapsules to Drive the Protein Shell Material Market 

10 Microencapsulation Market, By Region 
      10.1 Introduction 
              Figure 28 US Accounted for the Largest Share in the Microencapsulation Market in 2017 
              Table 42 Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 
      10.2 North America 
              Figure 29 North America: Microencapsulation Market Snapshot 
              Table 43 North America: Market Size, By Country, 2016–2023 (USD Million) 
              Table 44 North America: Market Size, By Application, 2016–2023 (USD Million)
              Table 45 North America: Market Size, By Technology, 2016–2023 (USD Million) 
              Table 46 North America: Market Size, By Core Material, 2016–2023 (USD Million) 
              10.2.1 US 
                        10.2.1.1 Innovations and Collaborations With R&D Firms to Upsurge the Microencapsulation Market in US 
                                    Table 47 Maximum Intended Use Levels of Free and Microencapsulated Fish Oil Products* 
                                    Table 48 US: Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
                                    Table 49 US: Market Size, By Technology, 2016–2023 (USD Million) 
              10.2.2 Canada 
                        10.2.2.1 Substantial Growth in the Food, Drugs, and Consumer Goods Industries Drives the Microencapsulation Market in Canada 
                                    Table 50 Canada: Microencapsulation Market Size, By Application, 2016–2023 (USD Million)
                                    Table 51 Canada: Market Size, By Technology, 2016–2023 (USD Million) 
              10.2.3 Mexico 
                        10.2.3.1 Food and Agrochemical Applications to Grow at High Rates in Next 5 Years 
                                    Table 52 Mexico: Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
                                    Table 53 Mexico: Market Size, By Technology, 2016–2023 (USD Million) 
      10.3 Europe
              Figure 30 Europe: Microencapsulation Market Snapshot 
              Table 54 Europe: Market Size, By Country, 2016–2023 (USD Million) 
              Table 55 Europe: Market Size, By Application, 2016–2023 (USD Million) 
              Table 56 Europe: Market Size, By Technology, 2016–2023 (USD Million) 
              Table 57 Europe: Market Size, By Core Material, 2016–2023 (USD Million) 
              10.3.1 Germany 
                        10.3.1.1 Concentration of Key Players has Fueled the Market for Microencapsulation in the Country 
                                    Table 58 Germany: Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
                                    Table 59 Germany: Microencapsulation Market Size, By Technology, 2016–2023 (USD Million) 
              10.3.2 UK 
                        10.3.2.1 Application of PCM and Fragrances in Textile Industry has Been Growing in UK 
                                    Table 60 UK: Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
                                    Table 61 UK: Microencapsulation Market Size, By Technology, 2016–2023 (USD Million) 
              10.3.3 France 
                        10.3.3.1 Nutraceutical Application to Be the Fastest Growing Market for Microencapsulation in France 
                                    Table 62 France: Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
                                    Table 63 France: Market Size, By Technology, 2016–2023 (USD Million) 
              10.3.4 Rest of Europe 
                        10.3.4.1 Demand for Dietary Supplements and Healthcare Products to Drive the Microencapsulation Market in Rest of Europe 
                                    Table 64 Rest of Europe: Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
                                    Table 65 Rest of Europe: Market Size, By Technology, 2016–2023 (USD Million) 
      10.4 Asia Pacific 
              Figure 31 Asia Pacific: Microencapsulation Market Snapshot 
              Table 66 Asia Pacific: Market Size, By Country, 2016–2023 (USD Million) 
              Table 67 Asia Pacific: Market Size, By Application, 2016–2023 (USD Million) 
              Table 68 Asia Pacific: Market Size, By Technology, 2016–2023 (USD Million) 
              Table 69 Asia Pacific: Market Size, By Core Material, 2016–2023 (USD Million) 
              10.4.1 China 
                        10.4.1.1 Growing Demand for Agrochemicals and Textiles to Drive the Market for Microencapsulation in China 
                                    Table 70 China: Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
                                    Table 71 China: Market Size, By Technology, 2016–2023 (USD Million) 
              10.4.2 Japan 
                        10.4.2.1 Growing Functional Food Industry to Drive the Microencapsulation Market 
                                    Table 72 Japan: Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
                                    Table 73 Japan: Market Size, By Technology, 2016–2023 (USD Million) 

              10.4.3 Rest of Asia Pacific 
                        10.4.3.1 The South East Asian Markets are Projected to Grow at A High Rate in The Next Five Years 
                                    Table 74 Rest of Asia Pacific: Microencapsulation Market Size, By Application, 2016–2023 (USD Million)
                                    Table 75 Rest of Asia Pacific: Microencapsulation Market Size, By Technology, 2016–2023 (USD Million)
     10.5 Rest of the World (RoW) 
             Table 76 RoW: Microencapsulation Market Size, By Region, 2016–2023 (USD Million) 
             Table 77 RoW: Market Size, By Application, 2016–2023 (USD Million) 
             Table 78 RoW: Market Size, By Technology, 2016–2023 (USD Million) 
             Table 79 RoW: Market Size, By Core Material, 2016–2023 (USD Million) 
                         10.5.1 South America 
                                   10.5.1.1 Consistent Economic Growth and Development in the Food & Agro Industry is Stimulating the Demand for Microencapsulation
                                               Table 80 South America: Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
                                               Table 81 South America: Microencapsulation Market Size, By Technology, 2016–2023 (USD Million) 
             10.5.2 Others in RoW 
                       10.5.2.1 Favourable Government Policies in Middle East & Africa is Boosting the Demand 
                                   Table 82 Others in RoW: Microencapsulation Market Size, By Application, 2016–2023 (USD Million) 
                                   Table 83 Others in RoW: Microencapsulation Market Size, By Technology, 2016–2023 (USD Million) 

11 Competitive Landscape 
      11.1 Overview 
      11.2 Competitive Leadership Mapping (Overall Market) 
              11.2.1 Visionary Leaders 
              11.2.2 Innovators 
              11.2.3 Dynamic Differentiators 
              11.2.4 Emerging Companies 
                        Figure 32 Global Microencapsulation Market Competitive Leadership Mapping, 2018 
      11.3 Competitive Benchmarking 
              11.3.1 Strength of Product Portfolio 
              11.3.2 Business Strategy Excellence 
      11.4 CompetitiveLeadership Mapping (Start-Up/SME) 
              11.4.1 Progressive Companies 
              11.4.2 Starting Blocks 
              11.4.3 Responsive Companies 
              11.4.4 Dynamic Companies 
                        Figure 33 Microencapsulation Market Startups Competitive Leadership Mapping, 2018 
      11.5 Competitive Benchmarking for Start-Up Companies 
              11.5.1 Strength of Product Portfolio 
              11.5.2 Business Strategy Excellence 
      11.6 Ranking of Key Players, 2018 
              Figure 34 BASF Led the Microencapsulation Market in 2018 
      11.7 Competitive Scenario 
              11.7.1 Product Launches 
                        Table 84 New Service, Technology, and Product Launches, 2016-2018 
              11.7.2 Expansions & Investments 
                        Table 85 Expansions & Investments, 2018-2019 
              11.7.3 Acquisitions 
                        Table 86 Acquisitions, 2018 - 2019 
              11.7.4 Agreements, Collaborations, Partnerships, and Joint Ventures 
                        Table 87 Agreements, Collaborations, Partnerships, and Joint Ventures, 2016 - 2018 

12 Company Profiles 
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
      12.1 BASF 
              Figure 35 BASF: Company Snapshot 
              Figure 36 BASF: SWOT Analysis 
      12.2 Royal Frieslandcampina 
              Figure 37 Royal Frieslandcampina: Company Snapshot 
              Figure 38 Royal Frieslandcampina: SWOT Analysis 
      12.3 Syngenta Crop Protection 
              Figure 39 Syngenta Crop Protection: Company Snapshot 
              Figure 40 Syngenta Crop Protection: SWOT Analysis 
      12.4 Koninklijke DSM 
              Figure 41 Koninklijke DSM: Company Snapshot 
              Figure 42 Koninklijke DSM: SWOT Analysis 
      12.5 Givaudan 
              Figure 43 Givaudan: Company Snapshot 
              Figure 44 Givaudan: SWOT Analysis 
      12.6 International Flavors & Fragrances 
              Figure 45 International Flavors & Fragrances: Company Snapshot 
      12.7 Symrise 
              Figure 46 Symrise: Company Snapshot 
      12.8 Sensient Technologies 
              Figure 47 Sensient Technologies: Company Snapshot 
      12.9 Lycored Corp. 
      12.10 Koehler Innovative Solutions 
      12.11 Balchem Corporation 
              Figure 48 Balchem Corporation: Company Snapshot 
      12.12 Encapsys 
      12.13 Arcade Beauty 
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix 
      13.1 Discussion Guide 
      13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal 
      13.3 Available Customizations 
      13.4 Related Reports 
      13.5 Author Details 

The study involves four major activities to estimate the current market size of microencapsulation. Exhaustive secondary research was done to collect information on the market, the peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to, so as to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, food safety organizations, regulatory bodies, trade directories, and databases.

Primary Research

The microencapsulation market comprises several stakeholders such as suppliers, R&D institutes, and end-product manufacturers in the supply chain. The demand side of the market is characterized by the presence of importers/exporters; distributors; and manufacturers of food & beverages, pharmaceuticals, household and personal care products, textiles, and construction materials. The supply side is characterized by the presence of key providers of microencapsulation. Various primary sources from the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. The following is the breakdown of primary respondents:

Microencapsulation Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the microencapsulation market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • Key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above,the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated using both the top-down and bottom-up approaches.

Report Objectives

  • Determining and projecting the size of the microencapsulation market, with respect to  application, technology, core material, shell material, and region, over a five-year period, ranging from 2018 to 2023
  • Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
  • Analyzing the demand-side factors on the basis of the following:
    • Impact of macro- and micro-economic factors on the market
    • Shifts in demand patterns across different sub-segments and regions
    • Identifying and profiling key players in the microencapsulation market
  • Providing a comparative analysis of the market leaders on the basis of the following:
    • Product offerings
    • Business strategies
    • Strengths, weaknesses, opportunities, and threats
    • Key financials
  • Understanding the competitive landscape and identifying the major growth strategies adopted by players across the key regions
  • Analyzing the supply chain and regulatory frameworks across regions and their impact on prominent market players
  • Providing insights on key investments in product innovations and technology and patent registrations

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to company-specific needs.

The following customization options are available for the report:

Segment Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the Asia Pacific microencapsulation market, by country
  • Further breakdown of the Europe microencapsulation market, by country
  • Further breakdown of the RoW microencapsulation market, by country

Company Information

  • Detailed analysis and profiling of additional market players (up to five)
Report Code
FB 5546
Published ON
Mar, 2019
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