Microencapsulation Market Overview:
Microencapsulation is the process of trapping, coating, or surrounding a very small droplet of particles such as a solid, liquid, or gas in a polymeric particle. The microencapsulation process is mostly used to hide the taste, odor, and activity of encapsulated structures that serve as functional components in pharmaceutical and healthcare applications. Coating, spray, dripping and emulsion processes are microencapsulation technology examples, which trap active ingredients with a coating substance. Important elements to be considered while choosing for suitable microencapsulation procedure include the form as well as the size of active components, permeability, chemical characteristics, biocompatibility, and degradability of coating materials.
The global microencapsulation market size was significantly large in 2020 and is expected to continue to register a rapidly inclining revenue CAGR between 2021 and 2028. The constantly increasing number of applications of microencapsulation, particularly in the healthcare and pharmaceuticals industry are some of the major factors expected to drive revenue growth of the global microencapsulation market.
Global microencapsulation market revenue growth is primarily driven by increasing demand for functional and fortified food & pharmaceutical products. In addition increasing emphasis on drug encapsulation and other active substances such as peptides, proteins, and DNA/RNA molecules in the pharmaceutical industry are boosting revenue growth of the global microencapsulation market.
Rising awareness regarding the properties of microencapsulation over other similar products such as minerals, vitamins, essential oils, and other additional nutrients integrated into food products to improve functional characteristics of food products is expected to drive demand for microencapsulation, thereby supporting market revenue growth to a significant extent. Furthermore, increasing investments in R&D projects by various major companies in the global microencapsulation market is expected to create revenue opportunities for these players, thereby driving market revenue growth.
High research and development costs, as well as processing technologies, are one of the key factors that could hamper revenue growth of the global market to some extent over the forecast period. Additionally, microencapsulated material creation is occasionally customized, and it is sometimes required to be done on an industrial level rather than a pilot one. This raises the cost of processing products, which leads to an increase in the price of the end product and this could restrain microencapsulation market revenue growth.
Based on regional analysis, the Asia Pacific microencapsulation market is expected to register a robust revenue CAGR over the forecast period, owing to rapidly growing pharmaceutical and food manufacturing sectors in countries in the region, coupled with rising adoption of microencapsulation by various players in the aforementioned sectors. In addition, favorable government policies regarding FDI in the pharmaceutical sector in countries including China and India are resulting in the rapid development of the Asia Pacific healthcare industry, which is expected to support market revenue growth in the region.
North America microencapsulation market accounted for the largest revenue share in 2020 and is expected to continue with its dominance over the forecast period during the forecast period, due to increasing demand for and awareness of value-added products in a variety of categories including nutrition, food, healthcare, and personal care products among people in countries in the region.