Covina, CA, Jan. 04, 2021 (GLOBE NEWSWIRE) -- The increasing applications of microencapsulated products across various industries, the growing demand for pharmaceutical and agrochemical products, and the increasing demand for functional food products are some of the factors driving the growth of the microencapsulation market.
The global microencapsulation market accounted for US$ 7.8 billion in 2019 and is anticipated to register a CAGR of 14.5%.
The report "Global Microencapsulation Market, By Technology (Spray, Emulsion, and Dripping), By Core Material (Pharma & Healthcare Drugs, PCM, Food Additives, and Fragrances), By Application (Pharma, Household, Agrochemicals, and Textiles), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029".
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Key Highlights:
- In October 2020, Lubrizol Life Science Health (LLS Health) launches ASTAGILE microcapsules, its new sustainable, organic-certified, astaxanthin (Haematococcus pluvialis), microencapsulated with spirulina. The two ingredients have been uniquely combined in a patent-pending product designed to promote mental agility and support healthy ageing for young and senior adults.
- In November 2020, Lubrizol introduces novel spirulina microencapsulated astaxanthin for healthy aging.
- In August 2018, BASF's (Germany) animal nutrition division launched Lucantin NXT product line in the European Union that would gradually be marketed in other countries. The carotenoid formulation would meet the latest regulation that requires ethoxyquin (EQ) to be withdrawn as a stabilizer.
Analyst View:
Increasing investment in research and development of biologics
The increased number of various biotechnology and biopharmaceutical companies that utilize filtration systems including membranes, capsules, cartridges, and other products are driving the growth of the overall pharmaceutical membrane filtration technologies market. In addition, the rapid adoption of innovative treatment therapies such as monoclonal antibodies, therapeutic proteins, and vaccines has resulted to create a positive impact on market growth. Moreover, companies are heavily investing in R&D to improve existing product portfolios. For instance, in 2016, AstraZeneca, a foremost healthcare company invested around USD 5,890 million in R&D. Moreover, in 2018, GE Healthcare and the Swedish Government opened an innovation center in Sweden —Testa Center—to support the commercialization of advanced biopharmaceuticals.
Growing pharmaceutical industry
The increasing prevalence of chronic and infectious diseases globally is influencing the growth of the pharmaceutical industry. According to the data published by the Pharmaceutical Industry and Global Health in 2017, the global pharmaceutical industry was valued at US$997 billion in 2014. Further, a surge in production and research activities has increased the demand for membrane technologies which is anticipated to boost the growth of the pharmaceutical membrane technology market over the forecast period.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Microencapsulation Market”, By By Technology (Spray, Emulsion, and Dripping), By Core Material (Pharma & Healthcare Drugs, PCM, Food Additives, and Fragrances), By Application (Pharma, Household, Agrochemicals, and Textiles), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global microencapsulation market accounted for US$ 7.8 billion in 2019 and is anticipated to register a CAGR of 14.5%. The market report has been segmented on the basis of technology, core material, application and region.
- Depending upon technology, the spray segment is projected to grow at highest CAGR over the forecast period. This is due to the benefits offered by the microencapsulation process, which includes high production capacity, high recovery efficiency, the simplicity of the process, cost efficiency, and process safety. Spray technologies are widely used in the large-scale manufacturing of food and pharmaceutical grade microencapsulation.
- In terms of core material, the pharmaceuticals & healthcare drugs segment accounted for the largest market size in the market during the forecast period.
- By application, the pharma segment estimated for highest share for controlled drug delivery, to mask the bitter taste or smell in drugs and to provide targeted delivery.
- By region, the market for microencapsulation in the North American region is dominating the market by the growing demand and awareness about value-added products for various areas such as nutrition, food, healthcare, and personal care. Due to this awareness and increased demand, companies are focusing on manufacturing functional products with novel technologies such as microencapsulation.
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Competitive Landscape:
The prominent player operating in the global microencapsulation market includes BASF, Royal FrieslandCampina, Syngenta Crop Protection, Koninklijke DSM, Givaudan, Firmenich, Symrise, International Flavors & Fragrances, Sensient Technologies, Lycored Corp.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
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