Rohit, as you might know, typically emulsifiers are surface active agents (meaning they are active/accumulate at the surfaces/interfaces). As far as I know, the amount of emulsifier needed to stabilize a given emulsion is proportional to its interfacial area between the droplet and external phase fluids. So, for a given droplet phase fraction, you would need higher quantities of the emulsifier when you have many smaller droplets compared to that of the case where you have larger droplets.