CHICAGO, May 18, 2021 /PRNewswire/ -- According to the new market research report "Microcapsule Market by Technology (Spray, Emulsion and Dripping), End-user Industry (Pharmaceuticals & Healthcare, Food, Household & Personal Care, Textiles, Agrochemicals), Shell Material, Core Material & Region - Global Forecast to 2026", published by MarketsandMarkets, the Microcapsule Market is projected to grow from USD 8.4 billion in 2021 and is projected to reach USD 13.4 billion by 2026, registering a CAGR of 9.8% from 2021 to 2026. The increasing demand of microcapsule from the pharmaceuticals & healthcare industry is one of the major factors contributing to the high growth of this market.
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By shell material, carbohydrates is estimated to record the fastest growth in the microcapsule market during the forecast period of 2021 to 2026.
There are various types of shell materials available for producing microcapsule, which include melamine formaldehyde, carbohydrates, gums & resins, other polymers, lipids and proteins. Among all these materials, carbohydrates segment is estimated to record highest growth in the microcapsule market during the forecast period. This is mainly due to the growing use of carbohydrates shell material in the food industry.
By end-user industry, pharmaceuticals & healthcare segment dominates the market during the forecast period
Based on end-user industry, the pharmaceuticals & healthcare segment dominates the market during the forecast period. The growing use of microcapsules in the pharmaceuticals and healthcare industry for various applications such as controlled release of drugs and taste masking boosts growth of this segment. Food segment is projected to be the second-largest industry in the microcapsule market in 2021.
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North America is the largest region in the microcapsule market
North America accounted for the largest share of the microcapsule market in 2020, followed by Europe. Fast-paced lifestyle of the consumers contributing to high demand for functional and fortified food products in North America and Europe. This, in turn, contributes to the high demand for microcapsules in these regions, mainly in the food industry.
The key market players in this market are 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), Capsulæ 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), INNOBIO (China), GAT Microencapsulation GmbH (Austria), BRACE GmbH (Germany), and Tagra Biotechnologies Ltd. (Israel). These players have adopted expansions, acquisitions, product launches, investments, partnerships, joint ventures, mergers, collaborations, agreements, and divestments as their growth strategies. Asia Pacific and South America are expected to offer growth opportunities for the microcapsule market.
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