ID: MRFR/F-B & N/3585-CRR | July, 2018 | Region: Global | 110 pages | Cooked Research Reports
Global Micro-encapsulation Market, By Technology (Spray, Emulsion, Dripping, and Others), By Coating Material (Lipids, Proteins, Polymers, Gums & Resins, Carbohydrates, and Others), By Application (Pharmaceuticals & Healthcare, Food & Beverages, Household Items, Personal Care, Agrochemicals, and Others) - Forecast till 2023
Micro-encapsulation is a process designed to reducing the size of particles while retaining its original value. The need for integration of food ingredients, enzymes, cells, and different materials on a smaller metric scale has brought the technology to the forefront. The global micro-encapsulation market size is anticipated to touch USD 12,761.2 million by 2023, as per an in-depth report by Market Research Future (MRFR). It is expected to expand at an 11.22% CAGR during the assessment period (2018-2023) owing to pressing demand for functional foods. Prevalence of various health disorders and inclination of consumers towards a healthy lifestyle can bolster market growth during the forecast period.
This report covers current events and trends in the market for micro-encapsulation to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts are able to make highly accurate projections in the report. MRFR’s report includes a thorough analysis of the global micro-encapsulation market segmented on the basis of technology, coating material, application, and region with astute insights. The report has been prepared to assist industry players in making the right decisions which can culminate in fruitful returns. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.
The micro-encapsulation market discusses various technologies under its umbrella which has been segmented into spray, emulsion, dripping, and others. The spray segment is likely to dominate the market over the forecast period. By coating material, it is segmented into carbohydrates, polymers, proteins, gums & resins, lipids, and others. Its applications cover the demands of industries such as pharmaceuticals & healthcare, food & beverages, household items, personal care, agrochemicals, and others.
The segments and sub-segments covered in the report are analyzed under four major regions – North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW), with respective country-level market sizing. The standard definition of “micro-encapsulation” is included in the report for a comprehensive understanding of the market. The report discusses and interprets the current trends and future opportunities of the market by delivering an unbiased growth assessment.
Royal FrieslandCampina N.V. (Netherlands), LycoRed Ltd. (Israel), Bayer AG (Germany), Encapsys, LLC (U.S.), International Flavors & Fragrance, Inc. (U.S.), Symrise AG (Germany), Balchem Corp. (U.S.), BASF SE (Germany), Syngenta AG (Switzerland), and Givaudan SA (Switzerland) are reputed players currently operational in the micro-encapsulation market. Players are investing in research and development to enhance their product offerings. Acquisitions are prime strategies employed to increase the geographical reach of companies.
The report offers comprehensive profiles on these market players and assesses their current standing in the micro-encapsulation market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.
Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report comprises news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.
For the scope of research, the report offers a comprehensive analysis of the global micro-encapsulation market.
Micro-encapsulation Market – Summary
The global market for micro-encapsulation is expected to witness an impressive CAGR of 11.22% during the forecast period (2018-2023), reports Market Research Future (MRFR). Growing concerns about health among the populace has given rise to micro-encapsulations as it performs excellently with substitute nutrients.
Rapid urbanization has led to a shift in consumer behavioral pattern. People are now more used to a sedentary life, and it is adversely affecting individual health. Also, lack of nutritional diet is triggering health issues. Hence, the need for micro-encapsulation in food and beverages to deliver improved nutrition to the consumers.
Pharmaceutical companies in Europe are investing heavily in research & developments, and are also, playing a pivotal role in the European economy by providing growth and employment. Increasing use of medicinal products among the population can give rise to the adoption of micro-encapsulation as it is cost-effective which in turn can accelerate the growth rate of the drug companies. Other sectors such as cosmetics & personal care products are also giving much-needed traction to the micro-encapsulation market.
The global micro-encapsulation market can be segmented by technology, coating material, and application.
Technology-wise segmentation includes spray, emulsion, dripping and others. Spray segment is expected to dominate the market with a considerable market share during the forecast period. However, the emulsion is set to register the fastest CAGR during the same period.
Based on the coating material, the market comprises carbohydrates, polymers, lipids, gums & resins, proteins and others. Lipids are currently dominating the market and is expected to do so during the forecast period. Carbohydrates are also proving to be great coating materials and are expecting significant growth in coming years.
Application-based segmentation consists food & beverages, personal care, household’s items, agrochemicals, pharmaceuticals & healthcare and others. Pharmaceuticals & healthcare is expected to rule the market during the review period owing to increasing demand for medicines. Food & beverages can bolster the market in the near future.
The global micro-encapsulation market covers North America, Europe, Asia Pacific (APAC), Latin America (LATAM) and Middle East & Africa (MEA).
North American region is dominating the market now and is expected to do so over the forecast period by growing at a CAGR of 10.86% during the review period. However, the APAC is projected to witness the highest growth rate during the forecast period. Along with a huge population base, the region has a well-structured healthcare system. These factors give rise to the demand for medicines and consequently spurs the growth of micro-encapsulation. China is estimated to account for the major market portion in the region, and it is estimated to reach USD 1,042.5 million by the end of 2023.
Key players involved in the global market are Givaudan SA (Switzerland), International Flavors & Fragrance, Inc. (U.S.), Symrise AG (Germany), Balchem Corp. (U.S.), Syngenta AG (Switzerland), BASF SE (Germany), Bayer AG (Germany), Royal FrieslandCampina N.V. (Netherlands), LycoRed Ltd. (Israel), Encapsys, LLC (U.S.), and others.
Key players in the micro-encapsulation market are found to have a high focus on strategic product launch to seek consumers’ attention towards their product range
The micro-encapsulation market is competitive with major market players operating at the global level. The key industry players in the micro-encapsulation market have adopted the strategies such as acquisitions, geographical expansions, and joint venture to strengthen their business portfolio. Most of the companies operating in this market are focusing on new acquisitions to expand their geographical presence. Moreover, they are investing in research and development to offer products with better functionality.
The key players involved in this strategy are Givaudan SA (Switzerland), International Flavors & Fragrance, Inc. (U.S.), Symrise AG (Germany), Balchem Corp. (U.S.), Syngenta AG (Switzerland), BASF SE (Germany), Bayer AG (Germany), Royal FrieslandCampina N.V. (Netherlands), LycoRed Ltd. (Israel), Encapsys, LLC (U.S.)
The company is one of the leading manufacturers of fragrance and flavors. The operating segments of the company include fragrance and flavors. The fragrance segment of the company is involved in the manufacturing and retail of fine fragrance, consumer products, and active cosmetic ingredients. The flavors segment is involved in the production and retail of flavors for beverages, savory, dairy, and sweet goods. The flavors and fragrance offered by the company is widely used in the manufacture of confectionery, bakery products, chocolates, chewing gum; beverages including soft drinks, fruit juices, and instant beverages; dairy products, including ice creams and desserts, yogurts, and yellow fats; and also, savory products such as ready to eat meals, snacks, soups and sauces, and meat and poultry products. In October 2017 the company has laid the foundation for a new production hub in Changzhou, Jiangsu Province of China. Also, the new fragrance production plant will produce all the important product forms such as oral care flavors, fragrances, and encapsulation
International Flavors & Fragrance, Inc. is involved in the production of fragrances and flavors which is majorly used in personal care and household products, food & beverages. The company is operating through two business segment such as fragrance & flavors.
The fragrance segment is involved in the manufacture of fragrance compounds used in perfumes (fine fragrance) and other consumers products including home care products, fabric care, hair care and toiletries. The company has its operating segments in Europe, Africa, the Middle East, Asia Pacific, North America and Latin America. The major end users of flavors and fragrance offered by the company include food and beverages, detergent manufacturing industries, fragrance and cosmetic industries. The company is actively involved in R & D activities and invests hugely in this sector to bring in product innovations and improvisation. Broad offerings in the fragrance segment are one of the major reasons for the company’s global dominance. The company emphasizes providing cost-advantaged, specialty molecules to enhance the company’s production of fragrance compounds, which is more preferred by the consumers.
Symrise AG is engaged in manufacturing, development, and retail of fragrance & flavorings, cosmetic base materials and substances for the cosmetics industry. The major operating segment of the company includes scent & care and flavor & nutrition. The sent & care segment is involved in the development, production & selling of fragrance, aroma molecules and mint aromas, cosmetic ingredients and also develops specific application processes for the substances. The flavor & nutrition segment engages in production and retail of flavors used by customers for the production of food and beverages. In March 2013, Symrise AG launched a new generation of microencapsulated perfume oils allows laundry to smell fresh for longer.
BASF SE operates as a chemical company worldwide. BASF SE operates through five business segments such as Performance Products, Chemicals, Functional Materials & Solutions, oil & gas, and agricultural solutions. The company sees its key strategy as focusing on its product development & distribution channel. It works to bring operational efficiency in the selling and distribution of its product across the globe. Also, the company is arranging various promotional activities to create a strong awareness regarding the new product launch. Additionally, the company offers customization facility to the customers to enhance the customer base.