Microcapsule Market Worth $13.9 Billion by 2025 - Exclusive Report by MarketsandMarkets
CHICAGO, June 30, 2020 According to the new market research report "Microcapsule Market By Shell Material (Melamine, Non-Melamine), Core Material (Agricultural Inputs, Food Additives, Pharmaceutical & Healthcare Drugs, Fragrances, Phase Change Materials), End-use Industry , Technology, Region - Global Forecast to 2025", published by MarketsandMarkets, the Microcapsule Market is projected to grow from USD 8.7 billion in 2020 to USD 13.9 billion by 2025, at a CAGR of 9.8% from 2020 to 2025. Factors like increasing demand from the food industry, high demand from the pharmaceutical industry, rising demand from the agrochemical sector, increased R&D activities for process efficiency to enhance market penetration, and widespread applications of microcapsules, are major factors driving the growth of this market.
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By shell material, the melamine segment is projected to grow with the highest CAGR during the forecast period
By shell material, the melamine segment is projected to grow with the highest CAGR during the forecast period. The growth of the melamine segment is attributed to the increasing demand for formaldehyde-free melamine in personal care products. Additionally, melamine shell materials offer excellent retention capacity for volatile molecules and tunable mechanical properties that make these melamine capsules highly suitable as a formaldehyde-free alternative to conventional aminoplast microcapsules. These factors are driving the growth of this segment.
By core material, the pharmaceutical & healthcare drugs segment to lead the microcapsule market during the forecast period
By core material, the pharmaceutical & healthcare drugs segment led the microcapsule market in 2019 and is expected to witness significant growth during the forecast period. This growth is mainly attributed to the increasing demand for the masking of oral drug flavors to drive the growth of the pharmaceutical & healthcare drugs segment. Also, Intensive marketing by key players and increased applications of nutritional elements in functional and fortified foods drive the demand for pharmaceutical & healthcare drugs.