Microencapsulation Market Size

Microencapsulation Market size was over USD 13.11 billion in 2023 and is anticipated to reach USD 46.34 billion by 2036, growing at around 10.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of microencapsulation is assessed at USD 14.18 billion. The growth of the market can be attributed primarily to the growing application areas of microencapsulation in various industries, such as for encapsulating functional food and agrochemical products. Along with this, rising utilization of the technique for masking taste, activity and odor of functional ingredients used for making pharmaceutical and healthcare products is also expected to drive market growth in the upcoming years. Furthermore, increasing demand for efficient technology for encapsulating beauty products containing natural products, and escalating sales of personal care products are projected to offer profitable opportunities to the market in the near future. It is evaluated that out of all the online sales across the globe, beauty and skincare product sales will account for more than 45% share by the end of the year 2023.