Microencapsulation Global Market Report 2023
Major players in the microencapsulation market are LycoRed Group, BASF SE, Balchem Corp., Encapsys LLC, AVEKA Group, Givaudan SA, International Flavors & Fragrances Inc., Symrise AG, Capsulae Corp, Reed Pacific Pty Ltd.
New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Microencapsulation Global Market Report 2023" - https://www.reportlinker.com/p06479761/?utm_source=GNW
, Microtek Laboratories Inc., TasteTech Ltd., GAT Microencapsulation GmbH, Bayer AG, Royal FrieslandCampina, Koninklijke DSM, Syngenta AG, and Ronald T. Dodge Co.
The global microencapsulation market is expected to grow from $9.31 billion in 2022 to $10.47 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The microencapsulation market is expected to reach $15.54 billion in 2027 at a CAGR of 11%.
The microencapsulation market consists of revenues earned by entities by providing chemical, physicochemical, and coatings technologies.The market value includes the value of related goods sold by the service provider or included within the service offering.
The microencapsulation market also includes sales of polymeric or nonpolymeric materials like cellulose, ethylene glycol, gelatin, collagen, fibrin, and polyphosphazene which are used in microencapsulation.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Microencapsulation is a technology that encapsulates solid, liquid, or gas materials into microparticles with diameters ranging from 1 to 1000 ?m, using a polymeric or non-polymeric material to protect the contents from processing conditions and allowing controlled release under specific conditions. It is used to preserve and distribute functional constituents in various industries.
North America was the largest region in the encapsulation market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in microencapsulation report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main materials of microencapsulation are agricultural inputs, food additives, pharmaceutical and healthcare drugs, fragrances, phase change material, and others.Agricultural input describes the supplies and tools needed in agricultural production, including energy, seeds, fertilizers, and pesticides.
The various shell materials include polymers, gums and resins, lipids, carbohydrates, and protein that use spray technology, dripping technology, emulsion technology, and others. Microencapsulation finds its application in pharmaceutical and healthcare products, food and beverages, household and personal care products, agrochemicals, construction materials, textiles, and others.
Rising consumer demand for functional food is expected to propel the growth of the microencapsulation market going forward.Functional foods are defined as processed foods that give medical or health advantages as well as illness risk reduction.
Microencapsulation is a method that aid in the improvement of functional meals.This process entails coating functional ingredients with food-grade and biodegradable materials to protect them from degradation and improve their bioavailability and stability.
It is also used to overcome drawbacks associated with the use of certain ingredients in food fortification, such as phytosterols.Additionally, changing consumer preferences have also boosted the demand for functional foods.
For instance, in July 2022, according to a report published by the Food and Drink Federation, a UK-based organization that represents and consults food and drink manufacturers, the processed food and drink industry turnover grew from $130 bn in 2020 to $139 bn in 2021 by 3.4% since 2020 which accounts for 20% of the total UK manufacturing. Therefore, the rising consumer demand for functional food is driving the growth of the microencapsulation market.
Technological advancements are a key trend in gaining popularity in the microencapsulation market.Major companies operating in the microencapsulation market are focused on developing innovative technologies to strengthen their position in the market.
For instance, in In October 2020, Lubrizol Life Science Health (LLS Health), a US-based maker of complex medicines and medical equipment, introduces ASTAGILETM microcapsules, a new organic-certified, sustainable astaxanthin (Haematococcus pluvialis) microencapsulated with spirulina.The two components have been combined in a patent-pending product meant to improve mental agility and healthy aging in young and elderly persons, with several health benefits.
It employs a technology that ensures the stability of naturally occurring carotenoids, which, when combined with microencapsulation technology, allows to extract the maximum antioxidant capacity and achieve full functional benefits while using less astaxanthin - enabling a more cost-effective solution for those interested in preserving and enhancing cognitive function.
In October 2021, Milliken & Company, a US-based industrial producer acquired Encapsys LLC for an undisclosed sum.This purchase adds a unique blend of creativity, science, and technology to the Milliken team, expanding its range of specialty chemicals with worldwide reach.
It will also expedite sustainable solutions for markets and consumers. Encapsys LLC is a US-based chemical firm that specializes in microencapsulation products and unique solutions to partners in home care, personal care, agriculture, and textiles.
The countries covered in the microencapsulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The microencapsulation market research report is one of a series of new reports that provides microencapsulation market statistics, including microencapsulation industry global market size, regional shares, competitors with an microencapsulation market share, detailed microencapsulation market segments, market trends and opportunities, and any further data you may need to thrive in the microencapsulation industry. This microencapsulation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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