Microencapsulation Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Technology (Spray, Emulsion, Coating, Dripping), By Application (Pharmaceuticals, Food And Beverage, Households And Personal Care, Agrochemicals, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Jan 2023
- Report Code : KSI061612652
- Pages : 138
The Microencapsulation Market is projected to grow at a CAGR of 9.60% during the forecast period to reach US$19.228 billion by 2027, from US$10.121 billion in 2020.
Microencapsulation is a technique that is used to coat active substances with small capsules. Microencapsulation coats an active compound with an encapsulating agent which is also known as wall material that isolates the active material by protecting the active material from adverse changes or is used to hide sensory properties. The technology is used in the pharmaceutical, cosmetics industries, agrochemical, and food industries. The technique is used in the food industry to reduce the adverse aromas, volatility, and reactivity of food products and provide them with greater stability against adverse conditions. Additionally, microencapsulation has wide applications in pharmaceutical industries to alter the drug release, reduce the reactivity of the core ingredient with the outside environment, enhanced drug stability, and mask the taste and odour of certain drugs.
An increase in demand from pharmaceutical industries is expected to boost the microencapsulation market.
Microencapsulation witnesses rising demand from pharmaceutical industries, particularly in the development and production of drug delivery systems. It reduces the adverse effects of the drug, increases the stability of the drugs from foreign exposure, and aids in controlling the drug release from encapsulated microparticles. Furthermore, microencapsulation has witnessed increased applications in the pharmaceutical industry by pan method wherein, medicaments are coated into various spherical substrates such as nonpareil sugar seeds. Moreover, recent microencapsulation techniques such as polymerization which uses situ for microcapsule coatings have further increased the demand. Furthermore, many drugs have been microencapsulated to reduce gastric irritations such as the use of sustained-release Aspirin which has reduced GI bleeding and irritations.
Furthermore, the bitter taste in drugs has caused taste disturbance that affects the nutritional status of patients, particularly elderly people and children, and reduces their intake of necessary medicines. As per the American Academy of Pediatrics, compliance of children in taking medications properly is as low as 53% which can lead to persistent symptoms, additional doctor visits, a worsening condition, and increased healthcare costs. Hence, many drugs utilize microencapsulation to mask the bitter taste in drugs such as Paracetamol, Nitrfuranation, and others.
However, the increasing cost of materials used in the microencapsulation formulation process, and the effect of polymer products can hinder the growth of the microencapsulation market.
- Milliken which is a chemical and textile company acquired Encapsys which is a company focusing on microencapsulation products, in October 2021. The acquisition enabled Milliken to use Encapsys’s technology for the efficient production of materials and enhanced the chemical portfolio of the company.
- A spinout of Cambridge University, Xampla announced the launch of a plant-based microencapsulation product in September 2022. The product will enable companies to include vitamins in beverages in plastic containers and reduces the damaging effects of sunlight degradation and degradation during transportation and storage.
- Aenova Group which is a global leader in manufacturing and development for the pharmaceutical and healthcare industry, partnered with Microcaps which is an innovative Swiss start-up company that is engaged in microencapsulation technology with scalable capacity, in October 2022. The partnership enabled the companies to offer a wide range of new product development and lifecycle management solutions for micro- and convention capsule formulations such as task masking, controlled release, targeted release, and others.
- Microcaps launched EOS 1000 in May 2022 that enabled continuous, precision production of all-natural, size-controlled microcapsules for cosmetics, and pharmaceuticals purposes.
During the forecast period, North America is expected to gain a significant share of the Microencapsulation market.
North America witnessed an increase in the demand for microencapsulation from pharmaceutical industries due to the increasing need for preventing incompatibility among the drugs, to reduce toxicity and GI irritation which include ferrous sulfate and KCI. As per the National Library of Medicine, acetaminophen toxicity is responsible for 56,000 emergency department visits, 2600 hospitalizations, and 500 deaths per year in the USA and more than 50% accounts for unintentional overdoses of medicine. Moreover, the demand for microencapsulation increases as it helps in controlled drug release and reduces the toxicity of the medicine which helps in reducing the risk of such diseases and prolonged side effects of medicines.
COVID-19 had a significantly positive impact on the microencapsulation market. The demand for microencapsulation witnessed an increase due to its usage during the pandemic to prevent the spread of infection, particularly by using disinfectants. Moreover, microencapsulation provided stability to the active agents of disinfectants which allowed the safe transport of substances. Furthermore, it enabled controlled release and was used to immobilize the spread of the virus on various surfaces such as fabrics, metals, plastics, walls, and floors. Hence, the demand for microencapsulation techniques surged.
Microencapsulation Market Scope:
|Market Size Value in 2020||US$10.121 billion|
|Market Size Value in 2027||US$19.228 billion|
|Growth Rate||CAGR of 9.60% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Technology, Application, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Watson Inc, MIKROCAPS, Capsularis, Givaudan, Koehler Innovative Solutions, Prinova|
|Customization Scope||Free report customization with purchase|
- By Technology
- By Application
- Food and Beverage
- Households and Personal Care
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. MICROENCAPSULATION MARKET, BY TECHNOLOGY
6. MICROENCAPSULATION MARKET, BY APPLICATION
6.3. Food and Beverage
6.4. Households and Personal Care
7. MICROENCAPSULATION MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.3. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Watson Inc
9.5. Koehler Innovative Solutions
Koehler Innovative Solutions
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