The demand for encapsulation is significantly increasing owing to the growing demand for encapsulated flavors and colors from the convenience food sector
NEW YORK, UNITED STATES, November 10, 2022 /
EINPresswire.com/ -- The Insight Partners published recent study on “
Encapsulation Market 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)” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
Market Size Value in- USD 35,113.49 million in 2021
Market Size Value by- USD 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. of 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, Middle East & Africa, South & Central America
Country scope- US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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the global encapsulation market is expected to grow from US$ 35,113.49 million in 2021 to US$ 80,071.65 million by 2028; it is estimated to grow at a CAGR of 12.5% from 2021 to 2028. The encapsulation enables the controlled release of encapsulated materials in predetermined environments, which is an essential property in medicinal drugs and pesticides. Ingredients in various products are encapsulated for multiple reasons, including isolating active ingredients from chemical effects of oxidizing and evaporation.
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.
Encapsulation Market: Competitive Landscape and Key Developments
A few 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. The key companies adopt strategies such as the mergers and acquisitions, and research and development to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.
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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Encapsulation Market Insights
By coating material, the encapsulation market is segmented into polymers, gums and resins, lipids, carbohydrates, and proteins. Based on technology, the market is segmented into spray technology, emulsion technology, dripping technology, and others. Based on application, the market is segmented into pharmaceuticals and nutraceutical, food and beverages, personal care products, agrochemicals, and others. By geography, the encapsulation market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The encapsulation market in Europe is further segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is subsegmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The encapsulation market in Middle East & Africa (MEA) is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in South and Central America is subsegmented into Brazil, Argentina, and the Rest of South and Central America.
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