Microencapsulation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2029
Microencapsulation Market: Overview
The expanding application of microencapsulation across a number of industries, including pharmaceutical and agroproducts is predicted to account for promising growth in the microencapsulation market over the 2019 - 2029 forecast period. The increasing demand for functional food products is another key factor spelling growth in the microencapsulation market.
Extensive efforts for the R&D of new microencapsulation technologies undertaken by public and private undertakings is favorable to the growth of microencapsulation market. For example, new microencapsulation technologies are required to tap niche functions such as specific drug delivery for cancer and brain tumor. Initiatives for the development of microencapsulation products to target niche markets such as phase change materials (PCMs) underscores growth in the microencapsulation market.
The report on the microencapsulation market provides an elaborate understanding of trends and opportunities in the said market for the 2019- 2029 forecast period. Further, the report delves into the regional landscape of the microencapsulation market with valuable insights into revenue share projection of key regions over the aforementioned forecast period. Insights into the vendor landscape, wherein growth strategies of key players is discussed at length is a highlight of this report.
Microencapsulation Market: Competitive Landscape
The microencapsulation market marks the presence of large as well as mid-size players resulting in substantial competition. Large players in the microencapsulation market have their facilities spread across a few geographical locations that helps them to mark a presence worldwide. Despite impact of COVID-19 on a number of business areas, the supply chain in the encapsulation market largely remained unaffected, with multiple manufacturing facilities of players remaining in operation.
Prominent players in the microencapsulation market include BASF, Syngenta Crop Protection, Givaudan, Symrise, Sensient Technologies, Balchem Corporation, Arcade Beauty, Ingredion Incorporation, Cargill, Dupont, Advanced Bionutrition Corp, sphere Encapsulation, Vitasuare, Royal FrieslandCampina, Koninklijke DSM, Firmenich, International Flavors & Fragrances, and Lycored Corp. among others.
Microencapsulation Market: Key Trends
The microencapsulation market is witnessing growth with the increasing demand for functional and fortified food and pharmaceutical products. Microencapsulation enables integration of vitamins, minerals, flavors, essential oils, and other additives in food products to Microencapsulation increases the life and stability of the product being encapsulated, facilitates the manipulation of the product, and allows controlled release of the encapsulated contents.
The exponential growth of the pharmaceutical industry is providing ample growth opportunities to the microencapsulation market and vice versa. Use of microencapsulation technologies due to a number of benefits is attracting pharmaceutical manufacturers to use these technologies. Besides drugs, other active ingredients that use microencapsulation are peptides, DNA/RNA, proteins that adds value to these products.
On the downside, lack of R&D for novel microencapsulation products that are sustainable challenges the growth of microencapsulation market. In addition, high cost of resources for R&D of microencapsulation processing technology hinders the growth of microencapsulation market.
Microencapsulation Market: Regional Assessment
North America constitutes a considerable share in the global microencapsulation market. Demand for microencapsulation in the region stems from substantial demand for value-added products for a number of everyday use products across nutrition, personal care, food, and nutritional products. To serve this demand, product manufacturers are manufacturing functional products employing novel technologies such as microencapsulation.
Asia Pacific is anticipated to emerge as a prominent region in the microencapsulation market in the forthcoming years. Exponential growth of the pharma sector in the region opens vistas for the microencapsulation market in the region.
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