Encapsulation Market is expected to grow from US$ 35,113.49 million in 2021 to US$ 80,071.65 million by 2028; it is estimated to grow at a CAGR of 12.5% from 2021 to 2028
The scope of our recent study on “Encapsulation Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Coating Material (Polymers, Gums and Resins, Lipids, Carbohydrates, and Proteins), Technology (Spray Technology, Emulsion Technology, Dripping Technology, and Others), and Application (Pharmaceuticals and Nutraceutical, Food and Beverages, Personal Care Products, Agrochemicals, and Others)” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
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Key Players Influencing the Market
- Encapsys, LLC
- Lycored
- TasteTech
- Givaudan
- Balchem Inc.
- FrieslandCampina
- BASF SE
- DSM
- Microtek Laboratories, Inc.
- Legris Industries Group
The encapsulation market was valued at US$ 31,494.66 million in 2020 and is projected to reach US$ 80,071.65 million by 2028; it is expected to grow at a CAGR of 12.5% from 2021 to 2028. The encapsulation enables the controlled release of encapsulated materials in predetermined environments, which is an essential property in medicinal drugs and pesticides. Ingredients in various products are encapsulated for multiple reasons, including isolating active ingredients from chemical effects of oxidizing and evaporation
Impact of COVID-19 Pandemic on Encapsulation Market
With the COVID-19 outbreak across the globe, most countries declared a health emergency and stopped inessential movements. The crisis heavily impacted the supply chain of goods. The pandemic largely influenced the buying behavior of consumers toward food and beverages. During the initial months of the outbreak, a majority of public places and offices were closed, which led to a considerable drop in the commercial demand for encapsulated products. However, with the relaxation of the COVID-19 norms, the market resumed with the necessary precautions. Also, the increasing vaccination doses and the gradual decline in the number of daily COVID-19 positive cases are driving the growth of the market, and the growth of the encapsulation market is expected to stabilize in the region by 2022.
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