The present invention relates to a particle stabilized emulsion or foam comprising at least two phases and solid particles, wherein said solid particles are starch granules and said starch granules or a portion thereof are situated at the interface between the two phases providing the particle stabilized emulsion or foam. The invention further relates to the use of said particle stabilized emulsion or foam for encapsulation of substances chosen from biopharmaceuticals, proteins, probiotics, living cells, enzymes and antibodies, sensitive food ingredients, vitamins, and lipids in food products, cosmetic products, skin creams, and pharmaceutical formulations.