Global food encapsulation market report published by Accurize Market Research forecast that the global market is expected to reach $52 billion by 2024; growing at a CAGR of 6.7% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Latest innovations in food technology, expanding the functional food market as well as a rise in consumer health consciousness to drive the growth of the market
Adoption of the latest innovations in food technology, time constraints of consumers, and an increase in applications of food encapsulation fuels the demand for the global food encapsulation market. Moreover, expanding the functional food market as well as the rise in consumer health consciousness also boosts the growth of the market.
The global food encapsulation market has been bifurcated on the basis of the core phase, shell material, technology, application, and geography. The core phase includes vitamins, minerals, enzymes, probiotics, sweeteners, organic acids, preservatives, essential oil, prebiotics, colors, flavor and essence, and other core phases. The shell material is bifurcated into hydrocolloids, lipids, polymers, melts, and other shell materials (composites). Technology is further categorized as microencapsulation, nanoencapsulation, microencapsulation, and hybrid technology. Moreover, the market is segmented by application into bakery and confectionery, beverages, functional foods, snacks/convenience foods, meat, poultry and seafood, and dairy and frozen desserts.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico, and Canada are covered under North America wherein Europe covers the UK, Germany, France, Italy, and the Rest of Europe. Asia-Pacific covers China, India, Japan, and Rest of Asia-Pacific. The rest of the world (RoW) covers South America, the Middle East, and Africa.
“Vitamins accounted for the largest market share in the core phase segment ", says Accurize
By core phase segment, vitamins accounted for the largest market share in 2017 and are expected to continue its dominance during the forecast period 2017 – 2025, owing to increasing applications of vitamins in functional and fortified foods coupled with continuous advancements in encapsulated vitamin supplements.
Moreover, in the application segment, bakery and confectionery accounted for the largest market share in the year 2017 and are expected to continue its dominance during the forecast period 2017 – 2025, due to changing lifestyle coupled with a preference to convenient food globally.
“Hydrocolloids accounted for the largest market share in the shell material segment", says Accurize
By shell material segment, hydrocolloids accounted for the largest market share in 2017and are expected to continue its dominance during the forecast period 2017 – 2025, owing to wide usage of hydrocolloids in ingredient delivery system, due to its properties such as the potential for alteration, solubility, innate bioactivity, and biocompatibility.
Moreover, microencapsulation accounted for the largest market share in 2017, in the technology segment, and is expected to continue its dominance during the forecast period 2017 – 2025, owing to high adoption of microencapsulation, a preservation technique in the food processing sector.
“Europe dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, Europe accounted for the largest market share of 38.7%, owing to the growing developments in technologies used in the processed food sector.
Top players in the market
The key market players include LycoRed Limited, National Enzyme Company, LIPO Technologies, Symrise AG, Balchem Corporation, Cargill, Inc., Advanced BioNutrition Corporation, GAT Food Essentials GmbH, FrieslandCampinaKievit GmbH, and Kerry Group among others.