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(Health-NewsWire.Net, October 17, 2019 ) The global microencapsulation market was valued at USD 6.3 billion in 2018 and is projected to reach USD 11.8 billion by 2023, at a CAGR of 11.4% from 2018 to 2023. The market is driven by factors such as the increasing demand for fortified food products with health benefits, the increasing demand from the agrochemicals, the increased consumer demand for microencapsulated construction materials, as well as widespread applications of microencapsulation. The high costs associated with the microencapsulated process, the regulations on the maximum quantity of microencapsulated ingredients that can be added to food & beverages, and the limited availability of natural sources of high-quality raw materials inhibit the growth of the microencapsulation market.
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By application, the food & beverage segment is projected to witness the fastest growth during the forecast period
The food & beverages segment is estimated to grow at the highest CAGR because of multiple applications of microencapsulation in the food industry, where it is used to provide protection and to achieve the desired results of the active ingredients. Some ingredients added for product fortification are encapsulated to mask the odor and taste and to retain the products’ taste. The increasing consumer demand for functional food products is driving the food & beverage segment of the microencapsulation market.
Leading players profiled in this report
• BASF (Germany)
• Royal FrieslandCampina (Netherlands)
• Syngenta Crop Protection (Switzerland)
• Koninklijke DSM (Netherlands)
• Givaudan (Switzerland)
• Firmenich (Switzerland)
• Symrise (Germany)
• International Flavors & Fragrances (US)
• Sensient Technologies (US)
• Lycored Corp. (UK)
• Balchem Corporation (US)
• Encapsys (US)
• Arcade Beauty (US)
• Koehler Innovative Solutions (Germany)
By technology, the emulsion technologies segment is projected to grow at the highest CAGR in the global microencapsulation market during the forecast period
Based on technology, the microencapsulation market is segmented into spray technologies, emulsion technologies, dripping technologies, and others. The emulsion technologies segment is projected to record the highest CAGR. The emulsion technologies segment includes three major technologies such as in situ polymerization, coacervation, and sol-gel encapsulation. The demand for emulsion microencapsulation is increasing due to the simplicity of the process, process safety, and its cost efficiency.
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Asia Pacific is projected to be the fastest-growing region in the microencapsulation market, due to an increase in the demand for microencapsulated construction materials and rise in the consumption of fortified food & beverage products
The demand for microencapsulation for value-added functions is propelled by its increasing applications in various industries such as nutrition & pharmaceutical, food & beverage, personal care, and cosmetic. The technological developments in Asia Pacific countries, due to the developing infrastructure, have presented a potential scope for the automation of microencapsulation, as well as for improving its cost-effectiveness and output. Thus, there is a strong demand for microencapsulated materials from food & beverage manufacturers, pharmaceutical manufacturers, and textile and construction material manufacturers in this region.
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