The market size of the microcapsule is estimated at USD 8.4 billion in 2021 and is projected to reach USD 13.4 billion by 2026, at a CAGR of 9.8% from 2021 to 2026. The microcapsule market is on course for intense growth across different end-user industry verticals such as pharmaceuticals & healthcare, food, household & personal care, textiles, agrochemicals, and others. Manufacturers, producing microcapsule, are taking initiatives, and making huge investments in product launches and various business partnerships to improve the quality of their products and to augment their microcapsule business segment revenue.
A microcapsule is a small sphere with a uniform wall around it. The material inside the microcapsule is referred to as the core, internal phase, or fill, whereas the wall is commonly known as a shell, coating, or membrane. Microencapsulated particles have a diameter ranging from 3 to 800 micrometers.
There are various types of shell materials available for producing microcapsules, which include melamine formaldehyde, carbohydrates, gums & resins, other polymers, lipids and proteins. Among all these materials, carbohydrates segment is estimated to record highest growth in the microcapsule market during the forecast period. This is mainly due to the growing use of carbohydrates shell material in the food industry.
Pharmaceutical & healthcare drugs to lead microcapsule market, by core material in terms of size, during the forecast period
By core material, pharmaceutical and healthcare drugs are estimated to dominate the market in terms of size. The rising demand for fortified foods with enhanced health benefits drives the need for microencapsulated pharmaceutical and healthcare drugs. Further, the food additives segment is expected to be the second-largest market during the forecast period. Increasing use of acidulants, flavoring, and coloring agents in fortified foods contributes to the substantially large share of the food additives segment in this market.
Spray technologies estimated to hold a larger size of microcapsule market than emulsion, dripping, and other technologies in 2021
Spray technologies are estimated to account for the largest share of the microcapsule market in 2021 owing to their wide applications in the pharmaceuticals & healthcare, food, and household and personal care industries. Dripping technologies are likely to be the fastest-growing market during the forecast period, mainly due to the escalating demand for microencapsulated active ingredients in the pharmaceutical industry across the world.
North America is the largest region in the microcapsule market
North America accounted for the largest share of the microcapsule market in 2020, followed by Europe. The fast-paced lifestyle of the consumers contributing to the high demand for functional and fortified food products in North America and Europe. This, in turn, contributes to the high demand for microcapsules in these regions, mainly in the food industry.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 - 65%, Tier 2 - 20%, and Tier 3 - 15%
- By Designation: C-level Executives - 25%, Managers - 30%, and Others- 45%
- By Region: North America - 30%, Europe - 20%, Asia Pacific - 40%, South America - 3%, Middle East & Africa - 7%
The key market players in this market are BASF SE (Germany), International Flavors & Fragrances (US), Koninklijke DSM N.V. (Netherlands), Symrise AG (Germany), Givaudan S.A. (Switzerland), Sensient Technologies Corporation (US), Royal FrieslandCampina N.V. (Netherlands), Syngenta Crop Protection AG (Switzerland), Lycored Corp. (Israel), Koehler Innovative Solutions (Germany), Balchem Corporation (US), Capsulæ SAS (France), TasteTech Ltd. (UK), MicroCapsules Technologies (MCT) (France), INSILICO Co. Ltd. (South Korea), Matsumoto Yushi Seiyaku Co., Ltd. (Japan), Encapsys (US), Arcade Beauty (US), Reed Pacific (Australia), Firmenich SA (Switzerland), Ronald T. Dodge Company (US), Microtek Laboratories, Inc. (US), INNOBIO (China), GAT Microencapsulation GmbH (Austria), BRACE GmbH (Germany), and Tagra Biotechnologies Ltd. (Israel). These players have adopted expansions, acquisitions, product launches, investments, partnerships, joint ventures, mergers, collaborations, agreements, and divestments as their growth strategies. The Asia Pacific and South America are expected to offer growth opportunities for the microcapsule market.
Research Coverage:
The report defines, segments, and projects the microcapsule market based on shell material, core material, end-user industry, technology, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, microcapsule market manufacturers and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, acquisitions, product launches, investments, partnerships, joint ventures, mergers, collaborations, agreements, and divestments, undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the microcapsule market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Market Scope
1.3.1 Microcapsule Market Segmentation
1.3.2 Geographic Scope
1.3.3 Years Considered
1.4 Currency Considered
1.5 Stakeholders
1.6 Limitations
1.7 Inclusions & Exclusions
1.8 Summary of Changes Made in Revamped Version
2 Research Methodology
2.1 Research Data
Figure 1 Microcapsule Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Matrix Considered for Demand Side
Figure 2 Main Matrix Considered while Constructing and Assessing Demand for Microcapsules
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
2.3.2 Top-Down Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Methodology for Demand-Side Sizing of Microcapsule Market
Figure 6 Methodology for Supply-Side Sizing of Microcapsule Market (1/2)
Figure 7 Methodology for Supply-Side Sizing of Microcapsule Market (2/2)
2.3.2.1 Calculations for Supply-Side Analysis
2.3.3 Forecast
2.3.4 Approach 3: (Based on Global Market)
Figure 8 Market Size Estimation Methodology: Top-Down Approach
2.3.5 Approach 4: (Based on Type, by Region)
Figure 9 Market Size Estimation Methodology: Bottom-Up Approach
2.4 Growth Rate Assumptions/Growth Forecast
2.5 Data Triangulation
Figure 10 Microcapsule Market: Data Triangulation
2.5.1 Key Assumptions while Calculating Demand-Side Market Size
2.5.2 Limitations
2.5.3 Risk Analysis
3 Executive Summary
Table 1 Microcapsule Market Snapshot
Figure 11 Pharmaceuticals & Healthcare Industry to Capture Largest Size of Microcapsule Market from 2021 to 2026
Figure 12 Spray Technologies Estimated to Hold Larger Size of Microcapsule Market Than Emulsion, Dripping, and Other Technologies in 2021
Figure 13 Pharmaceutical & Healthcare Drugs to Lead Microcapsule Market, in Terms of Size, During Forecast Period
Figure 14 North America Accounted for Largest Share of Microcapsule Market in 2020
4 Premium Insights
4.1 Significant Opportunities in Microcapsule Market
Figure 15 Increase in Demand from Food and Healthcare & Pharmaceuticals Industries to Drive Microcapsule Market Growth
4.2 Microcapsule Market, by Region
Figure 16 Microcapsule Market in Asia-Pacific Expected to Grow at Highest CAGR During Forecast Period
4.3 Microcapsule Market, by End-User Industry
Figure 17 Pharmaceuticals & Healthcare Industry to Hold Largest Size of Microcapsule Market in 2026
4.4 Microcapsule Market, by Technology
Figure 18 Dripping Technologies to Exhibit Highest CAGR in Microcapsule Market During Forecast Period
4.5 North American Microcapsule Market, by End-User Industry and Country
Figure 19 Us and Pharmaceuticals & Healthcare Industry Accounted for Largest Share of North American Microcapsule Market, by Country and End-User Industry, Respectively, in 2020
4.6 Microcapsule Market, by Core Material
Figure 20 Pharmaceutical & Healthcare Drugs Estimated to Account for Largest Size of Microcapsule Market in 2026
5 Market Overview
5.1 Introduction
Table 2 Common Methods of Microencapsulation, by Technique
Table 3 Comparative Study: Advantages and Disadvantages of Microencapsulation Techniques
5.2 Market Dynamics
Figure 21 Forces Influencing Microcapsule Market
5.2.1 Drivers
5.2.1.1 Increased Adoption of Encapsulation Technology by Food and Beverage Manufacturing Companies
5.2.1.1.1 High Demand for Functional and Fortified Food and Beverage Products
5.2.1.2 Escalated Demand for Microencapsulation from Pharmaceuticals Industry
Table 4 Most Widely Used Microencapsulated Drugs in Pharmaceuticals Industry
5.2.1.2.1 Controlled Drug Delivery
5.2.1.2.2 Targeted Drug Delivery
5.2.1.3 Elevated Use of Microencapsulation Technology in Agrochemicals Industry
5.2.1.3.1 Use of Controlled Release Technique to Enhance Efficiency of Agrochemicals
5.2.1.3.2 Adoption of Controlled Release Technique for Convenience
5.2.1.3.3 Implementation of Microencapsulated Delivery System to Reduce Application Dose, Minimize Labor Requirement, Ensure Economic and Efficient Paste Management, Thereby Reducing Overall Cost
5.2.1.3.4 Deployment of Microencapsulated Agrochemicals Owing to Rising Environmental Concerns
5.2.1.4 Increased Focus of Market Players on R&D Activities to Increase Market Share
5.2.1.5 Widespread Applications of Microcapsules
Table 5 Key Functions of Microencapsulation Technology, by End-User Industry
Figure 22 Impact of Drivers on Microcapsule Market
5.2.2 Opportunities
5.2.2.1 Ongoing Technological Advances to Tap Niche Markets
5.2.2.1.1 Rising Need for Multi-Component Delivery Systems
5.2.2.2 Emerging Economies to Provide High-Growth Opportunities
5.2.2.2.1 Strong Focus on Technological Innovations and Healthy Eating and Nutritional Needs by Governments in Developing Countries
Figure 23 Impact of Opportunities on Microcapsule Market
5.2.3 Challenges
5.2.3.1 Maintaining Stability of Microencapsulated Ingredients in Varying Atmospheric Conditions
5.2.3.2 Stringent Regulatory Policies Pertaining to Use of Formaldehyde, Especially in Europe and Asia-Pacific
Table 6 Regulations on Maximum Permissible Residue Level of Formaldehyde in Textiles (Parts Per Million or Ppm Or): Europe
Table 7 Regulations on Maximum Permissible Residue Level of Formaldehyde in Textiles (Parts Per Million or Ppm): Asia-Pacific
5.2.3.3 Selection of Application-Specific and Appropriate Microencapsulation Technique and Shell Materials
5.2.4 Outbreak and Rapid Spread of COVID-19
Figure 24 Impact of Challenges on Microcapsule Market
5.3 Porter's Five Forces Analysis
Figure 25 Porters Five Forces Analysis
Table 8 Impact of Porter's Five Forces on Microcapsule Market, 2020
Table 9 Impact of Porter's Five Forces on Microcapsule Market, 2021-2026
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Industry Trends
Table 10 Future Trends in Application of Microcapsules in Industries
5.4.1 Food Industry
6 Value Chain Analysis
6.1 Introduction
6.2 Value Chain Analysis
Figure 26 Microencapsulation: Development and Production Phase Accounts for Maximum Contribution to Cumulative Value
6.3 Ecosystem Market Map of Microcapsule Market
7 Microcapsule Market: Patent Analysis
7.1 Introduction
7.2 Methodology
7.2.1 Document Type
Figure 27 Number of Granted Patents Vs. Total No. of Patent Applications Filed for Microcapsules
7.3 Microcapsule Market: Patent Publication Trends (2010-2020)
Figure 28 Publication Trends, 2010-2020
7.3.1 Insights
7.4 Jurisdiction Analysis: Top Geographies
Figure 29 Top Jurisdiction, by Document
7.5 Top 10 Companies/Applicants with Highest Number of Patents
Figure 30 Top Assignees
Table 11 List of Patents by Procter & Gamble
Table 12 List of Patents by Basf Se
Table 13 List of Patents by Firmenich & Cie
Table 14 List of Patents by Sekisui Chemical Co. Ltd.
Table 15 List of Patents by International Flavors & Fragrances Inc.
Table 16 List of Patents by Encapsys LLC
Table 17 Top 20 Patent Owners (US) from 2010 to 2020
8 COVID-19 Impact on Microcapsule Market
8.1 Introduction
8.1.1 COVID-19 Impact on Lives and Livelihood
8.1.1.1 Economic Outlook by International Monetary Fund (Imf)
Table 18 COVID-19 Impact: Economic Outlook, 2020-2021
8.1.1.2 Stimulus Package by G-20 Countries
Table 19 Relief Packages Announced by G-20 Countries
8.1.2 Impact of COVID-19 on Microcapsule Market: Pharmaceuticals Industry
8.1.2.1 Introduction
8.1.2.2 Impact on Value Chain: Raw Material Supply
8.1.2.2.1 Short-Term Hold on New Business Strategies
8.1.2.2.2 New Business Opportunity for Small-Scale Companies
8.1.3 Impact of COVID-19 on Microcapsule Market: Food Industry
8.1.3.1 Introduction
8.1.3.2 Growing Awareness About Functional and Fortified Food Products
8.1.3.3 Surging Demand for Omega-3 and Natural Anti-Oxidants
8.1.3.4 Ongoing Research Activities Supporting Growing Demand for Nutraceutical Food Products
8.1.3.5 Escalating Demand for Probiotic Supplements
8.1.4 Impact of COVID-19 on Microcapsule Market: Textiles Industry
8.1.4.1 Declining Market for Fashion Clothing
8.1.4.2 Continuously Operating Facilities Providing Medical and Military Clothing Services
8.1.5 Conclusion
9 Regulatory Framework Governing Microcapsule Market
9.1 Introduction
9.2 Codex Alimentarius Commission (Cac)
9.2.1 Joint Expert Committee on Food Additives (Jecfa)
9.3 Food and Drug Administration (Fda)
9.4 European Commission
9.5 Country-Wise Regulatory Authorities for Microencapsulation in Food
9.5.1 North America
9.5.1.1 US
9.5.1.2 Canada
9.5.2 Europe
9.5.3 Asia-Pacific
9.5.3.1 Japan
9.5.3.2 India
9.5.3.3 China
9.5.4 Rest of the World
9.5.4.1 Brazil
9.5.4.2 Australia and New Zealand
9.6 Restrictions Proposed by Echa on Intentionally Added Microplastics:
9.6.1 Concerns Over Microplastics Observed by Echa:
Table 20 Summary of Impact of Proposed Restriction on Commercialization of Microplastics for 20-Year Analytical Period
Table 21 Summary of Impact of Labelling or Reporting Requirements from 2021 Onward
9.7 Other Legislations on Intentionally Added Microplastics
9.7.1 Legislation for EU Member States on Intentionally Added Microplastics
9.7.1.1 Belgium
9.7.1.2 France
9.7.1.3 Ireland
9.7.1.4 Italy
9.7.1.5 Sweden
9.7.1.6 United Kingdom
9.7.2 Legislation for Countries Outside of EU on Intentionally Added Microplastics
9.7.2.1 Canada
9.7.2.2 USA
9.7.2.3 New Zealand
9.7.2.4 Australia
10 Microcapsule Market, by Technology
10.1 Introduction
Table 22 Microencapsulation Technologies
Figure 31 Microcapsule Market, by Technology, 2021 Vs. 2026 (USD Million)
Table 23 Microencapsulation Techniques with Their Relative Particle Size Ranges
Table 24 Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 25 Microcapsule Market, by Technology, 2020-2026 (USD Million)
10.2 Spray Technologies
10.2.1 Spray Drying
10.2.1.1 Surging Demand for Fortified Food Products to Drive Implementation of Spray Drying Microencapsulation Technology
10.2.2 Spray Chilling
10.2.2.1 Increasing Production of Functional and Rich Foods to Propel Market for Spray Chilling Microencapsulation Technology
Table 26 Microcapsule Market for Spray Technologies, by Region, 2016-2019 (USD Million)
Table 27 Microcapsule Market for Spray Technologies, by Region, 2020-2026 (USD Million)
10.3 Emulsion Technologies
10.3.1 In-Situ Polymerization
10.3.1.1 Rapid Advances in Polymerization Techniques Used to Microencapsulate Drugs, Colors, and Fragrances to Create Requirement for In-Situ Polymerization
10.3.2 Coacervation
10.3.2.1 Increased Demand for Essential Oils, Flavors, and Fragrances to Spur Adoption of Coacervation Technique
10.3.3 Sol-Gel Encapsulation
10.3.3.1 Surged Use of Sol-Gel Encapsulation Technique in Microencapsulation of Construction Materials to Propel Market Growth
Table 28 Microcapsule Market for Emulsion Technologies, by Region, 2016-2019 (USD Million)
Table 29 Microcapsule Market for Emulsion Technologies, by Region, 2020-2026 (USD Million)
10.4 Dripping Technologies
10.4.1 Spinning Disk/Rotational Suspension Separation
10.4.1.1 Atomization, High Production, and Scalability Requirements to Result in High Demand for Spinning Disk/Rotating Suspension Separation Technique
10.4.2 Centrifugal Extrusion
10.4.2.1 Escalating Demand for Microencapsulated Active Ingredients in Pharmaceuticals Industry to Provide Opportunity for Implementation of Centrifugal Extrusion Technology
Table 30 Microcapsule Market for Dripping Technologies, by Region, 2016-2019 (USD Million)
Table 31 Microcapsule Market for Dripping Technologies, by Region, 2020-2026 (USD Million)
10.5 Others
Table 32 Microcapsule Market for Other Technologies, by Region, 2016-2019 (USD Million)
Table 33 Microcapsule Market for Other Technologies, by Region, 2020-2026 (USD Million)
11 Microcapsule Market, by End-User Industry
11.1 Introduction
Table 34 Microencapsulation Methods and Applications
Figure 32 Microcapsule Market, by End-User Industry, 2021 Vs. 2026 (USD Million)
Table 35 Microcapsule Market, by End-User Industry, 2016-2019(USD Million)
Table 36 Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
11.2 Pharmaceuticals & Healthcare
11.2.1 Growing Use of Microcapsules for Applications Such as Controlled Release of Drugs and Taste Masking Boosts Growth of this Segment
11.2.2 Controlled Release
11.2.3 Specific Drug Delivery
Table 37 Microencapsulated Drugs and Biopharmaceutics
11.2.4 Taste Masking
Table 38 Microcapsule Market for Pharmaceuticals & Healthcare Industry, by Region, 2016-2019 (USD Million)
Table 39 Microcapsule Market for Pharmaceuticals & Healthcare Industry, by Region, 2020-2026 (USD Million)
11.3 Food
11.3.1 Increasing Application Areas of Microcapsules in Food Industry Accelerating Market Growth of this Segment
Table 40 Methods for Microencapsulating Food Ingredients
11.3.2 Probiotics
Table 41 Applications of Microencapsulation in Probiotic Bacteria
11.3.3 Antioxidants
11.3.4 Vitamins
11.3.5 Food Colorants
11.3.6 Food Flavors
Table 42 Microcapsule Market for Food Industry, by Region, 2016-2019 (USD Million)
Table 43 Microcapsule Market for Food Industry, by Region, 2020-2026 (USD Million)
11.4 Household & Personal Care
11.4.1 Growing Attention of Consumers Worldwide on Buying Health, Hygiene, and Beauty Products Leading to Increased Demand for Microcapsules in this Segment
11.4.2 Essential Oils
11.4.3 Polyphenolic Compounds
11.4.4 Fragrances and Perfumes
Table 44 Microcapsule Market for Household & Personal Care Industry, by Region, 2016-2019 (USD Million)
Table 45 Microcapsule Market for Household & Personal Care Industry, by Region, 2020-2026 (USD Million)
11.5 Textiles
11.5.1 Rising Popularity of Thermochromic Materials to Fuel Demand for Microcapsules in Textiles Industry
11.5.2 Thermochromic Materials
11.5.2.1 Leuco Dyes
11.5.2.2 Liquid Crystals
11.5.2.3 Pigments
11.5.3 Fragrance Finishing
11.5.4 Fire Retardants
11.5.5 Waterproofing
11.5.6 Softeners and Antistatic Compounds
11.5.7 Detergent Additives
11.5.8 Fragrances and Perfumes
Table 46 Microcapsule Market for Textiles Industry, by Region, 2016-2019 (USD Million)
Table 47 Microcapsule Market for Textiles Industry, by Region, 2020-2026 (USD Million)
11.6 Agrochemicals
11.6.1 Increasing Awareness Regarding Advantages of Microcapsules in Agriculture to Accelerate Market Growth
Table 48 Microcapsule Market for Agrochemicals Industry, by Region, 2016-2019 (USD Million)
Table 49 Microcapsule Market for Agrochemicals Industry, by Region, 2020-2026 (USD Million)
11.7 Others
Table 50 Applications of Microencapsulation in Construction Materials
Table 51 Microcapsule Market for Other Industries, by Region, 2016-2019 (USD Million)
Table 52 Microcapsule Market for Other Industries, by Region, 2020-2026 (USD Million)
12 Microcapsule Market, by Shell Material
12.1 Introduction
Table 53 Shell Materials Used in Microcapsules
Figure 33 Microcapsule Market, by Shell Material, 2020 Vs. 2026 (USD Million)
Table 54 Microcapsule Market, by Shell Material, 2016-2019 (USD Million)
Table 55 Microcapsule Market, by Shell Material, 2020-2026 (USD Million)
12.2 Melamine Formaldehyde
12.2.1 Wide Application Areas of Melamine Formaldehyde Boost Market Growth
Table 56 Microcapsule Market for Melamine Formaldehyde, by Region, 2016-2019 (USD Million)
Table 57 Microcapsule Market for Melamine Formaldehyde, by Region, 2020-2026 (USD Million)
12.3 Carbohydrates
12.3.1 Significant Adoption of Carbohydrates as Shell Material Owing to Their Properties Such as Biocompatibility, Solubility, and Innate Bioactivity Fuels Market Growth
Table 58 Microcapsule Market for Carbohydrates, by Region, 2016-2019 (USD Million)
Table 59 Microcapsule Market for Carbohydrates, by Region, 2020-2026 (USD Million)
12.4 Gums & Resins
12.4.1 High Demand for Microencapsulated Gums & Resins from Functional Food Industry Accelerates Market Growth
Table 60 Microcapsule Market for Gums & Resins, by Region, 2016-2019 (USD Million)
Table 61 Microcapsule Market for Gums & Resins, by Region, 2020-2026 (USD Million)
12.5 Other Polymers
12.5.1 Considerable Adoption of Polyurea/Urethane as Shell Material Among All Available Other Polymers due to Its Versatility, Longevity, and Strength Creates Market Opportunities
Table 62 Microcapsule Market for Other Polymers, by Region, 2016-2019 (USD Million)
Table 63 Microcapsule Market for Other Polymers, by Region, 2020-2026 (USD Million)
12.6 Lipids
12.6.1 Strengthened Use of Emulsified Lipids in Microencapsulation Supports Growth of Market for Lipids as Shell Materials
Table 64 Microcapsule Market for Lipids, by Region, 2016-2019 (USD Million)
Table 65 Microcapsule Market for Lipids, by Region, 2020-2026 (USD Million)
12.7 Proteins
12.7.1 Increased Demand for Gelatin-Based Microcapsules and Probiotic Products to Elevate Growth of Market for Proteins as Shell Materials
Table 66 Microcapsule Market for Proteins, by Region, 2016-2019 (USD Million)
Table 67 Microcapsule Market for Proteins, by Region, 2020-2026 (USD Million)
13 Microcapsule Market, by Core Material
13.1 Introduction
Table 68 Microcapsule Process and Applicable Core Material and Its Particle Size
Figure 34 Microcapsule Market, by Core Material, 2021 Vs. 2026 (USD Million)
Table 69 Microcapsule Market, by Core Material, 2016-2019 (USD Million)
Table 70 Microcapsule Market, by Core Material, 2020-2026 (USD Million)
13.2 Pharmaceutical & Healthcare Drugs
13.2.1 Growing Demand for Masking Bitter Flavor or Natural Color of Oral Pharmaceutical & Healthcare Drugs to Boost Microcapsule Market Growth
Table 71 Potential Benefits of Microcapsules in Nutraceuticals Sector
Table 72 Microcapsule Market for Pharmaceutical & Healthcare Drugs, by Region, 2016-2019 (USD Million)
Table 73 Microcapsule Market for Pharmaceutical & Healthcare Drugs, by Region, 2018-2025 (USD Million)
13.3 Food Additives
13.3.1 Increasing Use of Acidulants, Flavoring and Coloring Agents, and Vitamins and Minerals as Core Materials in Fortified Foods to Stimulate Market for Food Additives
Table 74 Microcapsule Market for Food Additives, by Region, 2016-2019 (USD Million)
Table 75 Microcapsule Market for Food Additives, by Region, 2020-2026 (USD Million)
13.4 Fragrances
13.4.1 Leading Position of North America in Global Microcapsule Market for Fragrances to Support Market Growth in Coming Years
Table 76 Microcapsule Market for Fragrances, by Region, 2016-2019 (USD Million)
Table 77 Microcapsule Market for Fragrances, by Region, 2020-2026 (USD Million)
13.5 Agricultural Inputs
13.5.1 Rising Focus of Growers on Mitigating Environmental and Health Risks by Using Agricultural Inputs as Core Materials to Create Market Opportunities
Table 78 Microcapsule Market for Agricultural Inputs, by Region, 2016-2019 (USD Million)
Table 79 Microcapsule Market for Agricultural Inputs, by Region, 2020-2026 (USD Million)
13.6 Phase Change Materials
13.6.1 Surging Adoption of PCM as Core Materials in Textiles and Construction Industry to Propel Market Growth
Table 80 Microcapsule Market for Phase Change Materials, by Region, 2016-2019 (USD Million)
Table 81 Microcapsule Market for Phase Change Materials, by Region, 2020-2026 (USD Million)
13.7 Others
Table 82 Microcapsule Market for Others, by Region, 2016-2019 (USD Million)
Table 83 Microcapsule Market for Others, by Region, 2020-2026 (USD Million)
14 Microcapsule Market, by Region
14.1 Introduction
Figure 35 Global Microcapsule Market, Regional Snapshot
Table 84 Microcapsule Market, by Region, 2016-2019 (USD Million)
Table 85 Microcapsule Market, by Region, 2020-2026 (USD Million)
14.2 North America
Table 86 North America: Microcapsule Market, by Country, 2016-2019 (USD Million)
Table 87 North America: Microcapsule Market, by Country, 2020-2026 (USD Million)
Figure 36 North America: Microcapsule Market Snapshot
Table 88 North America: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 89 North America: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 90 North America: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 91 North America: Microcapsule Market, by Technology, 2020-2026 (USD Million)
Table 92 North America: Microcapsule Market, by Core Material, 2016-2019 (USD Million)
Table 93 North America: Microcapsule Market, by Core Material, 2020-2026 (USD Million)
Table 94 North America: Microcapsule Market, by Shell Material, 2016-2019 (USD Million)
Table 95 North America: Microcapsule Market, by Shell Material, 2020-2026 (USD Million)
14.2.1 US
14.2.1.1 Strategic Acquisitions by and Collaborations Between Market Players to Boost Innovation in Microencapsulation Technology Incorporated in Food and Beverage Products
Table 96 US: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 97 US: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 98 US: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 99 US: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.2.2 Canada
14.2.2.1 High Demand for Microcapsules in Food & Beverages Industry in Canada Driving Market Growth
Table 100 Canada: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 101 Canada: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 102 Canada: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 103 Canada: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.2.3 Mexico
14.2.3.1 Robust Growth Expected in Food and Agrochemicals Industries in Coming Years to Spike Demand for Microcapsules
Table 104 Mexico: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 105 Mexico: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 106 Mexico: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 107 Mexico: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.3 Asia-Pacific
Table 108 Asia-Pacific: Microcapsule Market, by Country, 2016-2019 (USD Million)
Table 109 Asia-Pacific: Microcapsule Market, by Country, 2020-2026 (USD Million)
Figure 37 Asia-Pacific: Microcapsule Market Snapshot
Table 110 Asia-Pacific: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 111 Asia-Pacific: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 112 Asia-Pacific: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 113 Asia-Pacific: Microcapsule Market, by Technology, 2020-2026 (USD Million)
Table 114 Asia-Pacific: Microcapsule Market, by Core Material, 2016-2019 (USD Million)
Table 115 Asia-Pacific: Microcapsule Market, by Core Material, 2020-2026 (USD Million)
Table 116 Asia-Pacific: Microcapsule Market, by Shell Material, 2016-2019 (USD Million)
Table 117 Asia-Pacific: Microcapsule Market, by Shell Material, 2020-2026 (USD Million)
14.3.1 China
14.3.1.1 Microcapsule Market in China is Particularly Driven by Pharmaceuticals and Healthcare Industry
Table 118 China: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 119 China: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 120 China: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 121 China: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.3.2 Japan
14.3.2.1 Food and Household & Personal Care Industries Support Microcapsule Market Growth in Japan
Table 122 Japan: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 123 Japan: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 124 Japan: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 125 Japan: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.3.3 South Korea
14.3.3.1 Microcapsule Market in South Korea is Set to Grow with Bolstering Demand for Pharmaceuticals
Table 126 South Korea: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 127 South Korea: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 128 South Korea: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 129 South Korea: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.3.4 India
14.3.4.1 Pharmaceuticals, Food, and Personal Care Industries to Support Market Growth in India
Table 130 India: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 131 India: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 132 India: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 133 India: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.3.5 Indonesia
14.3.5.1 Spray Technologies Accounted for Largest Share of Microcapsule Market in Indonesia in 2020
Table 134 Indonesia: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 135 Indonesia: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 136 Indonesia: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 137 Indonesia: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.3.6 Malaysia
14.3.6.1 Pharmaceuticals Industry Expected to Spur Demand for Microcapsules in Country
Table 138 Malaysia: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 139 Malaysia: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 140 Malaysia: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 141 Malaysia: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.3.7 Rest of Asia-Pacific
Table 142 Rest of Asia-Pacific: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 143 Rest of Asia-Pacific: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 144 Rest of Asia-Pacific: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 145 Rest of Asia-Pacific: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.4 Europe
Table 146 Europe: Microcapsule Market, by Country, 2016-2019 (USD Million)
Table 147 Europe: Microcapsule Market, by Country, 2020-2026 (USD Million)
Figure 38 Europe: Microcapsule Market Snapshot
Table 148 Europe: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 149 Europe: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 150 Europe: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 151 Europe: Microcapsule Market, by Technology, 2020-2026 (USD Million)
Table 152 Europe: Microcapsule Market, by Core Material, 2016-2019 (USD Million)
Table 153 Europe: Microcapsule Market, by Core Material, 2020-2026 (USD Million)
Table 154 Europe: Microcapsule Market, by Shell Material, 2016-2019 (USD Million)
Table 155 Europe: Microcapsule Market, by Shell Material, 2020-2026 (USD Million)
14.4.1 Germany
14.4.1.1 Increased Demand for Microcapsules from Food Industry to Propel Market Growth
Table 156 Germany: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 157 Germany: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 158 Germany: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 159 Germany: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.4.2 UK
14.4.2.1 Escalated Use of Microcapsules in Nutritional and Pharmaceutical Products to Accelerate Market Growth in UK
Table 160 UK: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 161 UK: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 162 UK: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 163 UK: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.4.3 France
14.4.3.1 High Adoption of Microcapsules in Food and Agrochemical Applications to Stimulate Market Growth in Coming Years
Table 164 France: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 165 France: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 166 France: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 167 France: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.4.4 Italy
14.4.4.1 Heightened Need for Pharmaceutical Production to Spur Market Growth in Italy
Table 168 Italy: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 169 Italy: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 170 Italy: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 171 Italy: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.4.5 Spain
14.4.5.1 Sustainable Development of Food-Processing Industry Will Encourage Demand for Microcapsules in Spain
Table 172 Spain: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 173 Spain: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 174 Spain: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 175 Spain: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.4.6 Rest of Europe
Table 176 Rest of Europe: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 177 Rest of Europe: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 178 Rest of Europe: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 179 Rest of Europe: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.5 Middle East & Africa
Table 180 Middle East & Africa: Microcapsule Market, by Geography, 2016-2019 (USD Million)
Table 181 Middle East & Africa: Microcapsule Market, by Geography, 2020-2026 (USD Million)
Table 182 Middle East & Africa: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 183 Middle East & Africa: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 184 Middle East & Africa: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 185 Middle East & Africa: Microcapsule Market, by Technology, 2020-2026 (USD Million)
Table 186 Middle East & Africa: Microcapsule Market, by Core Material, 2016-2019 (USD Million)
Table 187 Middle East & Africa: Microcapsule Market, by Core Material, 2020-2026 (USD Million)
Table 188 Middle East & Africa: Microcapsule Market, by Shell Material, 2016-2019 (USD Million)
Table 189 Middle East & Africa: Microcapsule Market, by Shell Material, 2020-2026 (USD Million)
14.5.1 Saudi Arabia
14.5.1.1 Microcapsule Market in Saudi Arabia Majorly Driven by Growing Aging Population
Table 190 Saudi Arabia: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 191 Saudi Arabia: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 192 Saudi Arabia: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 193 Saudi Arabia: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.5.2 South Africa
14.5.2.1 Growing Pharmaceuticals Sector Driving Microcapsule Market Growth in Country
Table 194 South Africa: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 195 South Africa: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 196 South Africa: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 197 South Africa: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.5.3 Rest of Middle East & Africa
Table 198 Rest of Middle East & Africa: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 199 Rest of Middle East & Africa: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 200 Rest of Middle East & Africa: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 201 Rest of Middle East & Africa: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.6 South America
Table 202 South America: Microcapsule Market, by Country, 2016-2019 (USD Million)
Table 203 South America: Microcapsule Market, by Country, 2020-2026 (USD Million)
Table 204 South America: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 205 South America: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 206 South America: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 207 South America: Microcapsule Market, by Technology, 2020-2026 (USD Million)
Table 208 South America: Microcapsule Market, by Core Material, 2016-2019 (USD Million)
Table 209 South America: Microcapsule Market, by Core Material, 2020-2026 (USD Million)
Table 210 South America: Microcapsule Market, by Shell Material, 2016-2019 (USD Million)
Table 211 South America: Microcapsule Market, by Shell Material, 2020-2026 (USD Million)
14.6.1 Brazil
14.6.1.1 Expansion of Microcapsule Companies in Brazil Presents Market Growth Opportunities
Table 212 Brazil: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 213 Brazil: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 214 Brazil: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 215 Brazil: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.6.2 Argentina
14.6.2.1 Growth of Food Industries Boosts Demand for Microcapsules in Argentina
Table 216 Argentina: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 217 Argentina: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 218 Argentina: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 219 Argentina: Microcapsule Market, by Technology, 2020-2026 (USD Million)
14.6.3 Rest of South America
Table 220 Rest of South America: Microcapsule Market, by End-User Industry, 2016-2019 (USD Million)
Table 221 Rest of South America: Microcapsule Market, by End-User Industry, 2020-2026 (USD Million)
Table 222 Rest of South America: Microcapsule Market, by Technology, 2016-2019 (USD Million)
Table 223 Rest of South America: Microcapsule Market, by Technology, 2020-2026 (USD Million)
15 Competitive Landscape
15.1 Key Players’ Strategies
Table 224 Overview of Key Strategies Adopted by Top Players, 2018-2020
15.2 Market Evaluation Framework
Figure 39 Microcapsule Market Evaluation Framework for All Players, 2018-2020
15.3 Market Share Analysis
Figure 40 Market Share Analysis of Top 5 Players Vs. Other Players in Microcapsule Market
Table 225 Microcapsule Market: End-User Industry Footprint
Table 226 Microcapsule Market: Company Regional Footprint
15.4 Company Evaluation Matrix (Tier 1)
15.4.1 Terminology/Nomenclature
15.4.1.1 Star
15.4.1.2 Emerging Leader
15.4.1.3 Pervasive
15.4.1.4 Participant
Figure 41 Company Evaluation Matrix for Microcapsule Market (Tier 1)
15.5 Strength of Product Portfolio
Figure 42 Product Portfolio Analysis of Top Players in Microcapsule Market
15.6 Business Strategy Excellence
Figure 43 Business Strategy Excellence of Top Players in Microcapsule Market
15.7 Sme Matrix, 2020
15.7.1 Progressive Company
15.7.2 Responsive Company
15.7.3 Starting Block
15.7.4 Dynamic Company
Figure 44 Microcapsule Market: Emerging Companies Competitive Leadership Mapping, 2020
15.8 Competitive Situations and Trends
15.8.1 Product Launches
Table 227 Microcapsule Market: Product Launches, January 2018 to December 2020
15.8.2 Deals
Table 228 Microcapsule Market: Deals, January 2018 to December 2020
15.8.3 Other Developments
Table 229 Microcapsule Market: Expansions, Investments, and Innovations, January 2018 to December 2020
16 Company Profiles
(Business Overview, Products Offered, Recent Developments, Impacts of COVID-19 & Analyst's View)*
16.1 Major Companies
16.1.1 Basf Se
Figure 45 Basf Se: Company Snapshot
Table 230 Basf Se: Business Overview
16.1.2 International Flavors & Fragrances
Figure 46 International Flavors & Fragrances: Company Snapshot
Table 231 International Flavors & Fragrances: Business Overview
16.1.3 Koninklijke Dsm N.V.
Figure 47 Koninklijke Dsm N.V.: Company Snapshot
Table 232 Koninklijke Dsm N.V.: Business Overview
16.1.4 Symrise Ag
Figure 48 Symrise Ag: Company Snapshot
Table 233 Symrise Ag: Business Overview
16.1.5 Givaudan S.A.
Figure 49 Givaudan S.A.: Company Snapshot
Table 234 Givaudan S.A.: Business Overview
16.1.6 Royal Frieslandcampina N.V.
Figure 50 Royal Frieslandcampina N.V.: Company Snapshot
Table 235 Royal Frieslandcampina N.V.: Business Overview
16.1.7 Syngenta Crop Protection Ag
Figure 51 Syngenta Crop Protection Ag: Company Snapshot
Table 236 Syngenta Crop Protection Ag: Business Overview
16.1.8 Sensient Technologies Corporation
Figure 52 Sensient Technologies Corporation: Company Snapshot
Table 237 Sensient Technologies Corporation: Business Overview
16.1.9 Lycored Corp.
Table 238 Lycored Corp.: Business Overview
16.1.10 Koehler Innovative Solutions
Table 239 Koehler Innovative Solutions: Business Overview
16.1.11 Balchem Corporation
Figure 53 Balchem Corporation: Company Snapshot
Table 240 Balchem Corporation: Business Overview
16.1.12 Capsulæ Sas
Table 241 Capsulæ Sas: Business Overview
16.1.13 Tastetech Ltd.
Table 242 Tastetech Ltd.: Business Overview
16.1.14 Microcapsules Technologies (Mct)
Table 243 Microcapsules Technologies (Mct): Business Overview
16.1.15 Insilico Co. Ltd.
Table 244 Insilico Co. Ltd.: Business Overview
16.1.16 Matsumoto Yushi Seiyaku Co., Ltd.
Figure 54 Matsumoto Yushi Seiyaku Co., Ltd.: Company Snapshot
Table 245 Matsumoto Yushi Seiyaku Co., Ltd.: Business Overview
16.1.17 Encapsys
Table 246 Encapsys: Business Overview
16.1.18 Arcade Beauty
Table 247 Arcade Beauty: Business Overview
16.1.19 Reed Pacific
Table 248 Reed Pacific: Business Overview
16.1.20 Firmenich Sa
Table 249 Firmenich Sa: Business Overview
*Details on Business Overview, Products Offered, Recent Developments, Impacts of COVID-19 & Analyst's View Might Not be Captured in Case of Unlisted Companies.
16.2 Additional Players
16.2.1 Ronald T. Dodge Company
Table 250 Ronald T. Dodge Company: Business Overview
16.2.2 Microtek Laboratories, Inc.
Table 251 Microtek Laboratories, Inc.: Business Overview
16.2.3 Innobio
Table 252 Innobio: Business Overview
16.2.4 Gat Microencapsulation GmbH
Table 253 Gat Microencapsulation GmbH: Business Overview
16.2.5 Brace GmbH
Table 254 Brace GmbH: Business Overview
16.2.6 Tagra Biotechnologies Ltd.
Table 255 Tagra Biotechnologies Ltd.: Business Overview
17 Appendix
17.1 Discussion Guide
17.2 Knowledge Store: The Subscription Portal
17.3 Available Customizations
Executive Summary
Companies Mentioned
- Arcade Beauty
- Balchem Corporation
- Basf Se
- Brace GmbH
- Capsulæ Sas
- Encapsys
- Firmenich Sa
- Gat Microencapsulation GmbH
- Givaudan S.A.
- Innobio
- Insilico Co. Ltd.
- International Flavors & Fragrances
- Koehler Innovative Solutions
- Koninklijke Dsm N.V.
- Lycored Corp.
- Matsumoto Yushi Seiyaku Co., Ltd.
- Microcapsules Technologies (Mct)
- Microtek Laboratories, Inc.
- Reed Pacific
- Ronald T. Dodge Company
- Royal Frieslandcampina N.V.
- Sensient Technologies Corporation
- Symrise Ag
- Syngenta Crop Protection Ag
- Tagra Biotechnologies Ltd.
- Tastetech Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 309 |
| Published | May 2021 |
| Forecast Period | 2021 - 2026 |
| Estimated Market Value ( USD | $ 8.4 Billion |
| Forecasted Market Value ( USD | $ 13.4 Billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
