South Korea Microencapsulation Market Size & Outlook
South Korea microencapsulation market, 2018-2030 (US$M)
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South Korea microencapsulation market highlights
- The South Korea microencapsulation market generated a revenue of USD 360.4 million in 2023 and is expected to reach USD 738.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 10.8% from 2024 to 2030.
- In terms of segment, pharmaceutical & healthcare products was the largest revenue generating application in 2023.
- Home & Personal Care is the most lucrative application segment registering the fastest growth during the forecast period.
Microencapsulation market data book summary
| Market revenue in 2023 | USD 360.4 million |
| Market revenue in 2030 | USD 738.6 million |
| Growth rate | 10.8% (CAGR from 2023 to 2030) |
| Largest segment | Pharmaceutical & healthcare products |
| Fastest growing segment | Home & Personal Care |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pharmaceutical & Healthcare products, Home & Personal Care, Food & Beverages, Agrochemicals, Construction, Textile |
| Key market players worldwide | Basf SE, Evonik Industries AG, Bayer AG, Dow Inc, 3M Co, Balchem Corp, Encapsys, GAT Microencapsulation, Ronald T. Dodge, Innovent Biologics Inc, Natural Capsules, Reed Pacific Media, LycoRed, AVEKA, Microtek Laboratories, TasteTech |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.8% of the global microencapsulation market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China microencapsulation market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 887.4 million by 2030.
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Microencapsulation Market Scope
Microencapsulation Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea microencapsulation market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to microencapsulation market will help companies and investors design strategic landscapes.
Pharmaceutical & healthcare products was the largest segment with a revenue share of 67.18% in 2023. Horizon Databook has segmented the South Korea microencapsulation market based on pharmaceutical & healthcare products, home & personal care, food & beverages, agrochemicals, construction, textile covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea accounted for 10.63% of revenue share in Asia Pacific microencapsulation market and expected to grow over the forecast period on account of development of the healthcare system along with increasing production of pharmaceuticals in the country.
The rising demand for functional foods and nutritional ingredients containing essential oils, omega-3 fatty acids among several others is expected to drive the market for microencapsulation in the country.
Korean mistletoe extract used as medicine for hypertension and cancer has high viscosity, undesirable flavor and color is widely microencapsulated for mistletoe fortification to food system. In addition, the technique is widely used in cosmotextile application in the country, which has positive impact on driving the market growth.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea microencapsulation market , including forecasts for subscribers. This country databook contains high-level insights into South Korea microencapsulation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea microencapsulation market size, by application, 2018-2030 (US$M)
South Korea Microencapsulation Market Outlook Share, 2023 & 2030 (US$M)
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