Report : Asia Pacific Encapsulation Market Forecast to 2028 - COVID-19 Impact and Regional 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)
Carbohydrates Segment to Dominate Asia Pacific Encapsulation Market during 2018–2028
According to a new market research study on “Asia Pacific Encapsulation Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Coating Material, Technology, and Application,” is expected to reach US$ 30,765.74 million by 2028 from US$ 11,727.90 million in 2021. The market is estimated to grow at a CAGR of 14.8% from 2021 to 2028. Growing demand for encapsulated pharmaceuticals is the major factor driving the growth of the Asia Pacific encapsulation market. However, surge in cost of production and low profit margins may hinder the growth of Asia Pacific encapsulation market. The report provides trends prevailing in the Asia Pacific encapsulation market along with the drivers and restraints pertaining to the market growth.
The COVID-19 outbreak is wreaking havoc on the economic growth of Asia Pacific. The severity of the impact is entirely dependent on the transmission of the novel coronavirus. Government bodies across Asia Pacific are considering limiting the spread by imposing lockdowns, which is slowing down the import and export activities, leading to a shortage in raw material supply and labor. This factor has severely affected the encapsulation market across the region, which created a decline in the product supply. However, the increase in vaccination doses and the gradual decline in the number of daily COVID-19 positive cases are driving the market in 2021. The growth of the encapsulation market is expected to stabilize in the region by 2022. Further, the rising FDI in automotive and construction industries in China and India is expected to contribute to the overall market growth.
The Asia Pacific encapsulation market is segmented into coating material, technology, application, and country. Based on coating material, the Asia Pacific encapsulation market is segmented into polymers, gums and resins, lipids, carbohydrates, and lipids. In 2020, the carbohydrates segment held the largest share Asia Pacific encapsulation market. Based on technology, the Asia Pacific encapsulation market is segmented into spray technology, emulsion technology, dripping technology and others. In 2020, the spray technology segment held the largest share Asia Pacific encapsulation market. Based on by application, the Asia Pacific 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 Asia Pacific encapsulation market. Based on country, the Asia Pacific encapsulation market is segmented into Australia, China, India, Japan, South Korea, and rest of Asia Pacific. In 2020, India held the largest share Asia Pacific encapsulation market
Balchem Inc.; BASF SE; DSM; FrieslandCampina; Givaudan and TasteTech are among the leading companies in the Asia Pacific encapsulation market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Givaudan closed the acquisition of biotech company Alderys. The acquisition is expected to expand the company’s portfolio of environmentally friendly cosmetic and perfumery ingredients.
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