Microencapsulated Food Ingredient Market

Microencapsulated Food Ingredient Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

SR497711 | 26-Mar-2021 | 100 Pages | Mordor Intelligence |

Summary

The global microencapsulated food ingredient market is projected to record a CAGR of 4.8% during the forecast period (2020 - 2025).

- The market is primarily driven by 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.
- However, the high cost associated with the microencapsulation process, along with the high cost of research and development resources makes it difficult for a large number of market players to adopt the microencapsulation technology in various industries, which is hindering the market growth.

Key Market Trends

Growing Demand for Food Fortification

Owing to the growing need for tackling micronutrient deficiency, the demand for functional and fortified ingredients that are used for food and pharmaceutical products have shown significant growth in the global market. Microencapsulation is a suitable technology to provide controlled and targeted release of functional ingredients, thereby augmenting their bioavailability and at the same time providing food industries with ease of manufacturing. The technology also preserves the overall integrity of the food products by stabilizing the sensitive aspects, like flavor, appearance, and shelf-life, along with enabling conversion of liquid cores into powders and preventing the participation of undesirable reactions. Therefore, it results in fortifying food products without any degradation of sensitive ingredients.

North America Continues to Dominate the Global Market

The market for microencapsulation in the North American region, particularly in the United States, is driven 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. However, Asia-Pacific is expected to be the fastest-growing market due to the new product launches, geographical expansion, and increasing demand for specialized products among consumers.

Competitive Landscape

The global microencapsulated food ingredient market is competitive in nature having a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. For instance, in June 2017, Balchem Corporation acquired Innovative Food Processors Inc. (IFP). IFP, a regional manufacturer of agglomerated microencapsulated flavor in North America, to integrate with the expertise solutions in flavor encapsulation research from IFP. Key players dominating the market include Cargill Inc., BASF SE, DSM, Ingredion Inc., FrieslandCampina Ingredients, and Balchem Inc., among others.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support