Market Overview
Global Micro-Encapsulation Market perceives an exponential growth. High demand for functional food & beverage products is getting a huge market traction based on its high usage in the food industry. Furthermore, evolving technology for preserving food nutrients at the time of processing and manufacturing process has allowed the industries to come up with new and improved methods, which is one of the major factors contributing to the growth of the global micro-encapsulation market.
Growing demand for food & beverages, functional food and pharmaceutical products have attracted industries for targeted delivery of active compounds is driving the growth of the global micro-encapsulation market. Furthermore, increasing demand of multi-component delivery system provides significant opportunities in the micro-encapsulation market. Additionally, increasing disposable income is anticipated to drive the demand for fortified and other high-performance food products, which in turn, is projected to drive the demand for micro-encapsulation during the review period.
Moreover, growing awareness and increased demand for fortified food products from the pharmaceutical industry coupled with the new technologies are the key factors driving the growth of global micro-encapsulation market. However, heavy expenses incurred on machinery and R&D activities are considered to be the major challenge to this market.
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Competitive Analysis
Micro-encapsulation is an emerging technology; the market currently is confined with a limited number of operational players. These players are actively involved in process optimization for different food products in order to capture large market size. Continuous research and development by these players remain the major focus area. Additionally, strategic partnerships and mutual agreements with various industries is considered to be a major strategy followed by the market players.
Additionally, product awareness program carried out by the industries in order to promote their product and benefits of new technology are few of the strategies followed among the key players for expanding the market of micro-encapsulation.
The key players profiled in Micro-Encapsulation Market are Givaudan SA (Switzerland), BASF SE (Germany), Syngenta AG (Switzerland), Balchem Corporation (U.S.), Symrise AG (Germany), International Flavors & Fragrances Inc. (U.S.), Koninklijke Friesland Campina NV (the Netherlands), Bayer Corporation (U.S.), Encapsys, LLC (U.S.), and LycoRed Corp. (U.S.) among many others.
Market Segments
Global Micro-Encapsulation Market has been divided into technology, coating material, application, and region.
On the Basis of Technology: Spray, Emulsion, Dripping, and Others
On the Basis of Coating Material: Carbohydrates, Polymers, Lipids, Gums & Resins, Proteins, and Others
On the Basis of Application: Foods & Beverages, Personal Care & Household, Agrochemicals, Pharmaceutical & Health Care, and Others
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
Regional Analysis
Global Micro-Encapsulation Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the global micro-encapsulation market. Advancements in the healthcare industry have uplifted the use of micro-encapsulation technology in the pharmaceutical industry. Moreover, uplifted demand for functional food and personal care products in the North American region has a positive impact on the global micro-encapsulation market. Furthermore, in Asia Pacific region, India accounts for a major market share owing to increasing demand for functional foods and beverages and pharmaceutical products.
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