MicroEncapsulation Market Developments in Retail Landscape, Rising Demand for Convenience Food
Market Research Future (MRFR)’s extensive study reveals that the global micro-encapsulation market is expected to surge at an exceptional CAGR of 11.22%, surpassing the value of USD 212,761.2 million during the forecast period (2017-2023). Extensive use in various industries such as pharmaceutical & healthcare products, food & beverages, household & personal care products to enhance product functionality fuels the market growth. The market players serve the urge to respond to these new opportunities by expanding their global presence and services. Moreover, shifting focus towards healthier lifestyle and changing dietary preference marks the market expansion in the region. The micro-encapsulation market will also note a dramatic growth on the back of growing food additives industry where it extensively used for the production process.
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Prominent Key Players
The key players in the global micro-encapsulation market include Symrise AG (Germany), Balchem Corp. (U.S.), Syngenta AG (Switzerland), BASF SE (Germany) and LycoRed Ltd. (Israel) and others.
The global microencapsulation market is segmented based on technology, coating material, and application
By technology, the market is segmented based on atomization, liposome entrapment, spray, and pan coating.
By coating material, the market is segmented based on polysaccharides, proteins, lipids, and resins.
Various applications in the global micro-encapsulation market are home and personal care, agriculture, pharmaceuticals & healthcare and industrial & chemical.
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Globally the North American region has the upper hand and dominates the global market. The region is projected to surge at a CAGR of 10.86% during the forecast period. The growing awareness along with demand for fortified food products, growing demand from the pharmaceutical industry for numerous applications, and the advent of new technologies have driven the market growth in the region.
MRFR notes that Asia Pacific is anticipated to grow at the highest growth rate during the forecast period. In the region, China holds the major market share and will reach valuation of USD 1,042.5 million during the assessment period. The regional market has picked up immense speed since the demand from the food & beverages industry has quadrupled in the past few years. The other factors triggering the market growth are emerging economies, technological advancements, and rapid industrialization.
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