Report : South America 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 South America Encapsulation Market during 2018–2028
According to a new market research study on “South America Encapsulation Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Coating Material, Technology, and Application,” is expected to reach US$ 1,723.97 million by 2028 from US$ 922.78 million in 2021. The market is estimated to grow at a CAGR of 9.3% from 2021 to 2028. Growing demand for encapsulated pharmaceuticals is the major factor driving the growth of the South America encapsulation market. However, increased cost of production and low profit margins may hinder the growth of South America encapsulation market. The report provides trends prevailing in the South America encapsulation market along with the drivers and restraints pertaining to the market growth.
The country with the most confirmed COVID-19 cases in South America was Brazil, followed by Argentina, Peru, Chile, and Ecuador. The COVID-19 pandemic has significantly disrupted the manufacturing sector in terms of operational efficiency, owing to extended lockdowns, restrictions imposed on international trades, the shutdown of manufacturing units, travel bans, supply chain disintegration, shortage in the supply of raw materials, and many other factors. However, businesses are gaining ground as previously imposed limitations are being eased across various locations. Moreover, the introduction of COVID-19 vaccines by governments of different countries has eased the situation leading to a rise in business activities. Furthermore, governments of various countries are planning to develop modern and technologically advanced infrastructure to mitigate the economic impacts of the COVID-19 pandemic.
The South America encapsulation market is segmented into coating material, technology, application, and country. Based on coating material, the South America encapsulation market is segmented into polymers, gums and resins, lipids, carbohydrates, and lipids. In 2020, the carbohydrates segment held the largest share South America encapsulation market. Based on technology, the South America encapsulation market is segmented into spray technology, emulsion technology, dripping technology and others. In 2020, the spray technology segment held the largest share South America encapsulation market. Based on by application, the South America encapsulation market is segmented into pharmaceuticals and nutraceutical, food and beverages, personal care products, agrochemicals, and other. In 2020, the food and beverages segment held the largest share South America encapsulation market. Based on country, the South America encapsulation market is segmented into Brazil, Argentina, and rest of South America. In 2020, Brazil held the largest share South America encapsulation market
Balchem Inc.; BASF SE; DSM; FrieslandCampina; Givaudan; and TasteTech are among the leading companies in the South 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 2018, TasteTech launched Gum kit specially designed to help chewing gum manufacturers. The company has demonstrated that incorporating the use of encapsulated flavoring and ingredients can help deliver an improved customer experience and longer lasting taste.
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