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Microencapsulation Market Segmented By technology such as Spray-based technologies, Emulsion-based technologies, Dripping, Other Technologies with the core material such as Phase change materials, Pharmaceutical Drugs, Food Additives and Fragrances
Microencapsulation is originated in the pharmaceutical industry, however, it is a relatively new concept in the supplement and food business. Microencapsulation is one of the most promising technique for controlled drug delivery. Micro particles provides various advantages as drug delivery systems, which include effective protection of encapsulated agent against degradation, easy administration, etc.
Microencapsulation primarily refers to sizes ranging from 1 micrometre to 1 millimetre. Microencapsulation is the packaging technology of liquid, solid or gaseous materials with thin polymeric coatings and forming small particles called microcapsules. Microencapsulation has numerous applications including agricultural, pharmaceutical, food additive, etc.
The global microencapsulation market is expected to be primarily driven by the rising popularity of functional foods and drug deliveries. Moreover, with the rise in disposable income across developing countries customers are purchasing dietary supplements, which in turn will boost the demand for microencapsulation technologies.
Microencapsulation technologies are utilized for various purpose, which include isolation of core from its surroundings, improving the handling properties of a sticky material, controlled release of drugs, safe handling of toxic materials, masking the taste or odour of the core, etc.
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Microencapsulation process is widely adopted in the foods and supplements owing to its stability. Many bioactive substances, such as vitamin C, are unstable and easily deteriorate in capsules, tablets, nutrient bars and other food systems.
Thus, various manufacturers are utilizing the microencapsulation process. Moreover, microencapsulation process provides various advantages including odour masking and taste masking. The aforementioned reasons are expected to boost the demand for the microencapsulation technologies and hence escalating the growth of the global microencapsulation market.
Strong base of the existing players and significant initial investment associated with the technologies are expected to pose a risk for new players. On the other hand, rising penetration of technologies and rapid development in the end-use industries, such as food & beverage, and pharmaceuticals, among others, are projected to open new avenues for the players over the near future.
Manufacturers of microencapsulation technology are found to be involved in the collaboration activities to investigate a patent-pending microencapsulation technology. For instance, recently UC Davis and BASF have entered into a collaborative research agreement.
Considering regions, North America is expected to remain the key consumption base for microencapsulation technologies supported by surging investments in the end-use industries across the U.S. For instance, in the U.S., research & development investments of pharmaceutical companies have grown consistently over the past decade, and have doubled the publicly funded NIH expenditures in 2014.
Further, manufacturing bases of prominent pharmaceutical manufacturers are located in the U.S. North America is expected to be followed by Europe and Asia-Pacific in the global microencapsulation market over the forecast period.
Examples of some of the key participants involved in the global microencapsulation market include Capsulae, BASF SE, Encapsys, LLC, Lycored, Koninklijke DSM N.V., Balchem Corporation, AVEKA, Inc., Microtek Laboratories, Inc., TasteTech Ltd., Reed Pacific Pty Limited, etc.
The global microencapsulation market is expected to be the most consolidated market in nature primarily owing to the presence of large number of established players in the market.
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