An aqueous dispersion comprising: a microcapsule comprising: a shell having a three-dimensional cross-linked structure comprising at least one bond selected from a urethane bond or a urea bond; and a core, at least one of the shell or the core having a polymerizable group; at least one dispersant; and water, wherein the at least one dispersant is a compound represented by the following Formula: wherein, in Formula, X 1 represents a (pX+2)-valent organic group; nX and pX each independently represents an integer that is 1 or more; Y 1 and Y 2 each independently represents O or NH; Y 3 represents O, S, NH, or NZ 3; Y 4 represents O, S, NH, or NZ 4; R 1 represents a divalent hydrocarbon group having 1 to 20 carbon atoms that may comprise an alicyclic structure or an aromatic ring structure and that may have a substituent; L represents a single bond or a divalent linking group; Z 1 and Z 2 each independently represent a hydrocarbon group having 1 to 30 carbon atoms that may have a substituent, or represents a group represented by Formula; and Z 3 and Z 4 each independently represent a hydrocarbon group having 1 to 30 carbon atoms that may have a substituent, or represents a group represented by Formula; wherein, in Formula, R W1 represents an alkylene group having 1 to 6 carbon atoms that may be branched; R W2 represents an alkyl group having 1 to 6 carbon atoms that may be branched; L W represents a single bond, or a divalent hydrocarbon group having 1 to 30 carbon atoms that may have a substituent; nw represents an integer from 2 to 200; and * represents a binding position; and wherein a carboxy group in Formula may be neutralized. a microcapsule comprising: a shell having a three-dimensional cross-linked structure comprising at least one bond selected from a urethane bond or a urea bond; and a core, at least one of the shell or the core having a polymerizable group; at least one dispersant; and water, wherein the at least one dispersant is a compound represented by the following Formula: wherein, in Formula, X 1 represents a (pX+2)-valent organic group; nX and pX each independently represents an integer that is 1 or more; Y 1 and Y 2 each independently represents O or NH; Y 3 represents O, S, NH, or NZ 3; Y 4 represents O, S, NH, or NZ 4; R 1 represents a divalent hydrocarbon group having 1 to 20 carbon atoms that may comprise an alicyclic structure or an aromatic ring structure and that may have a substituent; L represents a single bond or a divalent linking group; Z 1 and Z 2 each independently represent a hydrocarbon group having 1 to 30 carbon atoms that may have a substituent, or represents a group represented by Formula; and Z 3 and Z 4 each independently represent a hydrocarbon group having 1 to 30 carbon atoms that may have a substituent, or represents a group represented by Formula; wherein, in Formula, R W1 represents an alkylene group having 1 to 6 carbon atoms that may be branched; R W2 represents an alkyl group having 1 to 6 carbon atoms that may be branched; L W represents a single bond, or a divalent hydrocarbon group having 1 to 30 carbon atoms that may have a substituent; nw represents an integer from 2 to 200; and * represents a binding position; and wherein a carboxy group in Formula may be neutralized.