Boston, MA -- (ReleaseWire) -- 02/18/2014 -- The primary factor driving the growth of the food encapsulation market is the rise in demand for functional foods which offer intended health benefits. This report estimates the market size of the food encapsulation market in terms of value. Bakery & confectionery, dairy & frozen desserts, convenience foods, functional foods, beverages, and meat, poultry & seafood are the key applications for encapsulation. In terms of geography, the report is segmented into Asia-Pacific, Europe, North America, and Rest of the World (ROW). The food encapsulation market is broadly divided on the basis of shell materials, core phase, and technology. With the increasing penchant for product aesthetics and taste, the market is likely to witness substantial growth in the coming years.
Food encapsulation is an imperative segment of food processing as it aids in protecting and extending the shelf life of end products. Food encapsulation can be used to deliver an optimum taste, flavor, and color, appetizing nutritive value, and offering better shelf life. Each technology type is used by deploying various application techniques subjective to characteristics intended to impart by the food ingredients and the technical feasibility. In terms of application, functional food products remain the leading market for encapsulation. The meat, seafood & poultry market is set to exhibit rapid gains, due to advances in processed meat & seafood products.
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The companies enjoying significant market share are Balchem Corporation (U.S.), LycoRed Ltd. (Israel), Symrise AG (Germany), Sensient Technologies Corporation (U.S.), International Flavors and Fragrances Inc. (U.S.), etc. Existing dominant players are leveraging their innovative capabilities and customer relations to commercialize novel products and increase adoption by key industry players. Top six players in the food encapsulation industry held a market share of around 20% signifying participation of a large number of players in this market.
FOOD ENCAPSULATION MARKET VALUE, BY SHELL MATERIAL,
2013 VS. 2018 ($MILLION)
Source: MarketsandMarkets Analysis
The figure above shows the growth trend of the food encapsulation shell material market value from 2013 to 2018.The global food encapsulation shell material market value is projected to grow at a CAGR of 4.5% from 2013 to 2018. Hydrocolloids dominate the market in terms of shell material and are estimated to grow at a modest pace. Melts, as a shell material, are estimated to exhibit rapid growth in the coming years. Other composites account for very low share and are expected to grow at a meager pace in the future.
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