North America Encapsulation Market to Reach US$ 24,037.56 million at a CAGR of 10.2% in 2028

Carbohydrates Segment to Dominate North America Encapsulation Market during 2018–2028

According to a new market research study on “North America Encapsulation Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Coating Material, Technology, and Application,” is expected to reach US$ 24,037.56 million by 2028 from US$ 12,193.64 million in 2021. The market is estimated to grow at a CAGR of 10.2% from 2021 to 2028. Rising demand for encapsulated pharmaceuticals is the major factor driving the growth of the North America encapsulation market. However, increased cost of production and low profit margins may hinder the growth of North America encapsulation market. The report provides trends prevailing in the North America encapsulation market along with the drivers and restraints pertaining to the market growth.

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.

The North America encapsulation market is segmented into coating material, technology, application, and country. 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. Based on country, the North America encapsulation market is segmented into US, Canada, and Mexico. In 2020, the US held the largest share North America encapsulation market.

Balchem Inc.; BASF SE; DSM; Encapsys, LLC; FrieslandCampina; Givaudan; Legris Industries Group; Lycored; Microtek Laboratories, Inc; and TasteTech are among the leading companies in the North America 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, Lycored doubled its production of lycopene to meet unprecedented demand. Lycopene is used in skin care products to help protect against pollution and signs of anti-ageing.

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