Market Introduction
North America comprises major economies such as the US, Canada, and Mexico. The growth of the encapsulation market in North America is driven by the increasing use of encapsulated products for various applications such as food and beverages, pharmaceuticals and nutraceutical, and personal care products. There is a high demand for dietary supplements among the population. Major constituents of dietary supplements, such as vitamins and enzymes, require targeted delivery. The sales of dietary supplements are increasing in the US. In addition, the COVID-19 pandemic has led to the increase in the sales of dietary supplements and nutraceuticals in North America. The increase in sales is propelled by the intense interest in supplements to improve immune function. These trends offer opportunities for the encapsulated product manufacturers. In North America, the high disposable income fuels the demand for personal care products. Consumers are increasingly looking for high-quality personal care products to improve everyday living. Furthermore, rising demand for functional and fortified food and pharmaceutical products would present the market with further potential prospects. Encapsys, LLC and Balchem Inc., etc. are among the players operating in the North America encapsulation market. The players are providing enhanced encapsulation solutions to meet the rising demand for shelf-stability of products. In 2020, the ingredients manufacturer, Lycored doubled its production of lycopene at the firm’s facility in the US. The company has increased production to meet the unprecedented demand for skincare ingredients. Owing to such factors, the encapsulation market in North America is expected to grow during the forecast period.
The ongoing COVID-19 pandemic has drastically changed the status of the chemicals & industrial industry and has hampered the growth of the North America encapsulation market. The implementation of measures to combat the spread of the virus aggravated the situation and negatively influenced the development of several industries. For instance, industries such as building & construction and oil & gas have been impacted by the distortion in operational efficiencies and disruptions in the value chains due to the sudden closure of national and international boundaries. Moreover, the pandemic disrupted product orders and deliveries, along with the cancellations and backlogs of orders. The significant decline in the growth of several industries such as construction and textiles reduced the demand for encapsulation in the North American market. The considerable disruptions in sourcing raw materials from suppliers and the temporary closures of the manufacturing bases due to indefinite lockdowns and temporary quarantines have negatively impacted the growth of the North America encapsulation market during the pandemic. However, post-pandemic, North America is planning to revive its operations. Hence, the demand for encapsulation is expected to rise in the coming months.
Market Overview and Dynamics
The encapsulation market in North America is expected to grow from US$ 12,193.64 million in 2021 to US$ 24,037.56 million by 2028; it is estimated to grow at a CAGR of 10.2% from 2021 to 2028. Development of advanced technologies; numerous companies operating in the encapsulation market have made substantial investments in advanced technologies to promote the development of microencapsulation and nanoencapsulation. Modern technologies are being developed to tap niche markets. For instance, pharmaceutical companies are developing medicines for brain tumors that work through specifically operated drug delivery systems. Further, companies operating in the encapsulation market are focused on the development of new products which can display product properties, including different phase temperature change options and improvement in latent heat storage capacity. In addition, there is a growing demand for encapsulated products from the energy sector, primarily for products that can endure high-temperature ranges. Such factors are expected to provide significant growth opportunities for the market players in North America encapsulation market during the forecast period. This is bolstering the growth of the encapsulation market.
Key Market Segments
Based on coating material, the North America encapsulation market is segmented into polymers, gums and resins, lipids, carbohydrates, and lipids. In 2020, the carbohydrates segment held the largest share North America encapsulation market. Based on technology, the North America encapsulation market is segmented into spray technology, emulsion technology, dripping technology and others. In 2020, the spray technology segment held the largest share North America encapsulation market. Based on by application, the North America encapsulation market is segmented into pharmaceuticals and nutraceutical, food and beverages, personal care products, agrochemicals, and other. In 2020, the pharmaceutical and nutraceutical segment held the largest share North America encapsulation market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the encapsulation market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Balchem Inc.; BASF SE; DSM; Encapsys, LLC; FrieslandCampina; Givaudan; Legris Industries Group; Lycored; Microtek Laboratories, Inc; and TasteTech among others.
Reasons to buy report
- To understand the North America encapsulation market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America encapsulation market
- Efficiently plan M&A and partnership deals in North America encapsulation market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America Encapsulation Market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
NORTH AMERICA ENCAPSULATION MARKET SEGMENTATION
- Polymers
- Gums and Resins
- Lipids
- Carbohydrates
- Proteins
- Spray Technology
- Emulsion Technology
- Dripping Technology
- Others
- Pharmaceuticals and Nutraceutical
- Food and Beverages
- Personal Care Products
- Agrochemicals
- Others
- US
- Canada
- Mexico
- Balchem Inc.
- BASF SE
- DSM
- Encapsys, LLC
- FrieslandCampina
- Givaudan
- Legris Industries Group
- Lycored
- Microtek Laboratories, Inc
- TasteTech
North America Encapsulation Market Strategic Insights
North America EncapsulationMarket Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 12,193.64 Million |
| Market Size by 2028 | US$ 24,037.56 Million |
| CAGR (2021 - 2028) | 10.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Coating Material
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
North America Encapsulation Market Country and Regional Insights
