CHICAGO, June 30, 2020
CHICAGO, June 30, 2020 According to the new market research report "Microcapsule Market By Shell Material (Melamine, Non-Melamine), Core Material (Agricultural Inputs, Food Additives, Pharmaceutical & Healthcare Drugs, Fragrances, Phase Change Materials), End-use Industry , Technology, Region - Global Forecast to 2025", published by MarketsandMarkets™, the Microcapsule Market is projected to grow from USD 8.7 billion in 2020 to USD 13.9 billion by 2025, at a CAGR of 9.8% from 2020 to 2025. Factors like increasing demand from the food industry, high demand from the pharmaceutical industry, rising demand from the agrochemical sector, increased R&D activities for process efficiency to enhance market penetration, and widespread applications of microcapsules, are major factors driving the growth of this market.
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136 – Market Data Tables
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By shell material, the melamine segment is projected to grow with the highest CAGR during the forecast period
By shell material, the melamine segment is projected to grow with the highest CAGR during the forecast period. The growth of the melamine segment is attributed to the increasing demand for formaldehyde-free melamine in personal care products. Additionally, melamine shell materials offer excellent retention capacity for volatile molecules and tunable mechanical properties that make these melamine capsules highly suitable as a formaldehyde-free alternative to conventional aminoplast microcapsules. These factors are driving the growth of this segment.
By core material, the pharmaceutical & healthcare drugs segment to lead the microcapsule market during the forecast period
By core material, the pharmaceutical & healthcare drugs segment led the microcapsule market in 2019 and is expected to witness significant growth during the forecast period. This growth is mainly attributed to the increasing demand for the masking of oral drug flavors to drive the growth of the pharmaceutical & healthcare drugs segment. Also, Intensive marketing by key players and increased applications of nutritional elements in functional and fortified foods drive the demand for pharmaceutical & healthcare drugs.
By end-use industry, the pharmaceutical & healthcare segment to lead the microcapsule market during the forecast period.
By end-use industry, the pharmaceutical & healthcare segment accounted for the largest share of the microcapsule market in 2019. This growth is mainly attributed to properties like controlled release of drugs, timely delivery of functional ingredients, and taste masking. These factors are driving the growth of this segment.
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By technology, the dripping technologies segment is projected to lead the microcapsule market forecast period.
By technology, the dripping technologies segment is projected to grow with the highest CAGR during the forecast period. Dripping technologies include droplet extrusion through spinning disks, jet breakage systems, and coextrusion. These technologies are applied for liquid, solid, hydrophilic, and lipophilic materials. The major advantages of dripping technologies are biocompatibility and low particle size distribution, which is expected to drive the growth for dripping technologies. Also, growing demand for microencapsulated active ingredients in pharmaceutical industry to drive market growth for dripping technologies.
South America to witness the highest growth rate in the microcapsule market.
The microcapsule market in South America is projected to witness the highest CAGR from 2020 to 2025. Growing demand for microcapsule in sectors such as agriculture, food, textile, and flavor has contributed to the growth of the South America microcapsule market. In this region, the microcapsule market is majorly driven by Brazil and Argentina.
Some of the leading players operating in the microcapsule market include BASF SE (Germany), International Flavors & Fragrances (US), Koninklijke DSM N.V. (Netherlands), Symrise AG (Germany), Givaudan S.A. (Switzerland), Sensient Technologies Corporation (US), Royal FrieslandCampina N.V. (Netherlands), Syngenta Crop Protection AG (Switzerland), Lycored Corp. (Israel), Koehler Innovative Solutions (Germany), Balchem Corporation (US), Capsul SAS (France), TasteTech Ltd. (UK), MicroCapsules Technologies (MCT) (France), INSILICO Co. Ltd. (South Korea), Matsumoto Yushi Seiyaku Co., Ltd. (Japan), Encapsys (US), Arcade Beauty (US), Reed Pacific (Australia), Firmenich SA (Switzerland), Ronald T. Dodge Company (US), Microtek Laboratories, Inc. (US), AVEKA, Inc. (US), INNOBIO (China), GAT Microencapsulation GmbH (Austria), BRACE GmbH (Germany), and Tagra Biotechnologies Ltd. (Israel). These players have adopted the strategies of expansions, acquisitions, new product launches, and partnerships to enhance their position in the market.
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