New York, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Encapsulation Market: Key Insights
According to our new research study on Encapsulation Market Size, Share, Revenue, Forecast to 2028 - COVID-19 Impact and Global Analysis By Coating Material (Polymers, Gums and Resins, Lipids, Carbohydrates, and Proteins), Technology (Spray Technology, Emulsion Technology, Dripping Technology, and Others), and Application (Pharmaceuticals and Nutraceutical, Food and Beverages, Personal Care Products, Agrochemicals, and Others).
| Report Coverage | Details |
| Market Size Value in | US$ 35,113.49 million in 2021 |
| Market Size Value by | US$ 80,071.65 Million by 2028 |
| Growth Rate | CAGR of 12.5% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 157 |
| No. Tables | 83 |
| No. of Charts & Figures | 82 |
| Historical Data Available | Yes |
| Segments Covered | Coating Material, Technology and Application |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country Scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Encapsulation Market: Competition Landscape and Key Developments
Key market players operating in the encapsulation market are Encapsys,LLC, Lycored, Tastetech, Givadan, Balchem, INC., FrieslandCampina, DSM, Microtek Laborotories, INC., Legris Industries Group, and BASF SE. Major market players are adopting strategies such as mergers and acquisitions and expansion of their geographical presence and consumer base globally.
In 2020, North America held the largest share of the global encapsulation market and Asia-Pacific is estimated to register the fastest CAGR in the market over the forecast period. The demand for encapsulation is expected to increase in the Asia Pacific region due to various factors such as the growth in the pharmaceutical industry and increase in demand for functional products. Growing foreign direct investments and investments in the research and development of encapsulation products has further boosted the growth of the market in the region. Further, the availability of skilled labor along with the lower cost of raw materials has attracted many international and global players to expand their businesses across the region.
Growing Demand for Encapsulated Flavors and Colors from Convenience Food Sector is Expected to Drive the Encapsulation Market Growth During Forecast Period:
Encapsulation in the convenience food sector is used for protecting encapsulated color or flavor in food products, thereby extending the lifecycle of food products over various product development stages and storage. Encapsulation can provide functional properties such as controlled release in predetermined environments. Encapsulated flavors are being used extensively in the convenience food sector for the controlled release of flavors and colors in food products, including tea bags, confectionery, instant drinks, and desserts. Active ingredients in food products are encapsulated for multiple reasons including isolating active ingredients form chemical effects of oxidizing and evaporation. The encapsulation also enables the controlled release encapsulated materials, which is an essential property in medicinal drugs and pesticides. The convenience food sector consists of food products designed to reduce preparation time for the end user. The convenience food sector has witnessed a substantial increase in demand in the past decade globally, and it is expected to increase significantly during the forecast period. The changing fast-paced lifecycle of individuals globally is the primary factor driving the demand for convenience food. Further, the growing urban population worldwide has also contributed significantly to driving the need for convenience food products. For instance, according to data from the United Nations, 51.1% of the global population lived in urban cities in 2009, and it grew to 55.7% in 2019. Such factors are expected to drive the demand for convenience food, thereby boosting the encapsulation market growth.
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Encapsulation Market: Segment Overview
By coating material, the encapsulation market is segmented into polymers, gums and resins, lipids, carbohydrates, and proteins. Carbohydrates are the first polymers used for flavor encapsulation, owing to their good physicochemical properties, good solubility in water, low viscosity, and excellent barrier properties with respect to volatile organic compounds. The carbohydrate coating material is recognized as safe and commonly used for food applications, owing to its natural sources, biodegradability, and acceptable mechanical properties. These polymer systems have a crucial role in the human diet since they provide energy for the vital organ functions and the physical activities of living beings. Carbohydrates are used in extrusion encapsulation and must combine good processability and good barrier properties.
Based on application, the encapsulation market is segmented into pharmaceuticals and nutraceutical, food and beverages, personal care products, agrochemicals, and others. The pharmaceuticals and nutraceutical segment held the largest share of the market in 2020. Encapsulation technologies are extensively used by pharmaceutical and nutraceuticals companies to mask the bitter taste or smell of drugs and to provide their targeted and controlled delivery. The development of drugs based on these biomolecules is expected to boost the demand for encapsulation for effective and targeted delivery of the active ingredients. The pharmaceutical sector is also greatly influenced by encapsulation technologies due to the benefits achieved by the manufacturers. Along with the encapsulation of drugs, other active ingredients such as peptides, proteins, and DNA/RNA molecules are also encapsulated to meet the market demand for value-added products. The growing demand for encapsulated flavors and colors from convenience food sector are expected to drive the market growth. However, increased cost of production and low profit margins is acting as a restrain for the growth of encapsulation market.
Impact of COVID-19 Pandemic on Encapsulation Market:
With the COVID-19 outbreak across the globe, most countries declared a health emergency and stopped inessential movements. The crisis heavily impacted the supply chain of goods. The pandemic largely influenced the buying behavior of consumers toward food and beverages. During the initial months of the outbreak, a majority of public places and offices were closed, which led to a considerable drop in the commercial demand for encapsulated products. However, with the relaxation of the COVID-19 norms, the market resumed with the necessary precautions. Also, the increasing vaccination doses and the gradual decline in the number of daily COVID-19 positive cases are driving the growth of the market, and the growth of the encapsulation market is expected to stabilize in the region by 2022.
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Key Questions to Request for Encapsulation Market:
- Can you list some of the major players operating in the global encapsulation market?
- Which region held the largest share of the global encapsulation market?
- Based on coating material, which segment is leading the global encapsulation market during the forecast period?
- Based on technology, which segment is leading the global encapsulation market during the forecast period?
- Based on application, which segment is leading the global encapsulation market during the forecast period?
- Which region held the fastest CAGR in the global encapsulation market?
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