Increase in demand for fortified food products with health benefits, increased R&D activities for process efficiency, and rise in development of the pharmaceuticals industry are expected to drive the growth of the microencapsulation market. The global microencapsulation market was valued at USD 6,476.8 million in 2018 and is expected to reach USD 14,475.7 million in 2026, growing at a CAGR of 10.6% during the forecast period.
Microencapsulation is a technique used to offers viable texture blending, appealing aroma release, and taste to flavors and fragrances for the pharmaceutical, home & personal care, food & beverages, and agrochemicals. The technique used to protect the flavors from evaporation, oxidation, and thermal degradation and extends the shelf-life, which is anticipated to boost the demand for microencapsulation. Moreover, it used to enclose or cover solid, liquid, and gas inside a micrometric wall made of hard or soft soluble film. The microencapsulation is used to reduce dosing frequency and prevent the degradation of pharmaceuticals.
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The growth in the demand for household products and functional foods in the developing countries are expected to strengthen the demand for microencapsulation in the global market. Moreover, there is lots of development in the pharmaceutical and agrochemical industries owing to the increasing investment from the regional government and leading manufacturers to meet the demand and need from the end-use industries across the globe. Furthermore, the increase in technological innovations with the development of raw materials is expected to enhance the expansion of the market over the forecast period.
However, the high cost for the research and development for the product development and manufacturing section are expected to hamper the growth of the global microencapsulation market during the forecast period.