The microencapsulation market is projected to grow at a CAGR of XX.XX% to reach US$XX.XX billion in 2024 from US$XX.XX billion in 2018. 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 as well as the agriculture industry due to functions like effective and targeted delivery of the active ingredients. With the rising adoption of the technology by small and medium scale end users, it is further expected to drive the demand in microencapsulation market.
Rise in Demand in the Pharmaceutical Industry
Widespread Applications of Microencapsulation
Rise in Demand to Enhance Product Functionality
High Cost Associated With the Microencapsulated Process
In February 2019, Givaudan opened its first fragnance encapsulation centre in Singapore for the asia pacific market.
The Major players profiled in the microencapsulation market include Syngenta Crop Protection, BASF, Balchem Corporation, Royal FrieslandCampina, Firmenich, Givaudan, Symrise, International Flavors & Fragrances, Sensient Technologies among others
The microencapsulation market has been analyzed through the following segments:
Pharmaceuticals and healthcare
Households and personals care product
BY shell material
Middle East and Africa