According to a new report published by Allied Market Research titled, "Microencapsulated Ingredients Market by ingredients and application: North America & Europe Opportunity Analysis and Industry Forecast, 2019–2026," the North America & Europe microencapsulated ingredients market accounted for revenue of $229.9 million in 2018 and is anticipated to generate $349.2 million by 2026. The North America & Europe microencapsulated ingredients market size is projected to experience growth at a CAGR of 5.3% from 2019 to 2026.
Microencapsulation technology enables compounds to encapsulate inside a microsphere/microcapsule. Microencapsulation is done through a chemical method known as interfacial cross-linking. In interfacial crosslinking process, the small bifunctional monomer comprising active hydrogen atoms are replaced by a bio sourced polymer, such as protein. The acid chloride reacts with the various functional groups of the protein during the reaction, leading to the formation of a membrane. The method is developed to restrain the use of toxic diamines for skin care applications.
Several different active ingredients such as pigments, vitamins, UV filters, skin lightening components, active ingredients, and essential oils are successfully encapsulated inside microcapsules developed from polymeric and non-polymeric materials including polyethylene glycols, cellulose, polylactides, and others. Microencapsulation in skin care products preserves the ingredients properties and enables the ingredients to release into the skin.
On the basis of ingredient, the UV filters segment holds the largest North America and Europe microencapsulated ingredients market share, in terms of revenue, and is expected to grow at a CAGR of 5.8%. Encapsulated UV filters are used to prevent the direct contact of the UV filters with skin which in turn prevents skin from sunburn, phot aging, and skin cancer. The rise in demand for encapsulated UV filters is due to temperature rise in economies such as Canada, Mexico, France, Germany, The Netherlands, Sweden, and Switzerland. This is expected to fuel the growth of overall North America & Europe microencapsulated ingredients market during the forecast period.
On the basis of application, Anti-wrinkle & anti-aging creams segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 6.0%. This is owing to the rise in awareness among people for aging process, and appearance. The rise in demand for anti-wrinkling & anti-aging creams from the countries such as Italy, Germany, UK, Canada, Belgium, and The Netherlands drives the North America & Europe microencapsulated ingredients market growth during the forecast period.
On the basis of region, the market is analyzed across two major regions such as North America and Europe. Europe has the dominant market share in 2018 and is anticipated to maintain its dominance during the forecast period. This is attributed to numerous factors such as a huge consumer base and the presence of key players in the region. North America is anticipated to grow at a noteworthy rate. This is owing to rise in number of end users in the countries such as the U.S., Canada, and Mexico.
Market players operating and profiled in the North America & Europe microencapsulated ingredients market include Air Liquide SA, Ashland Inc., BASF SE, Croda International PLC, Clariant AG, Kobo Products, Inc., Euracli, Koehler, Koninklijke DSM NV, Korea Particle Technology Co. Ltd., Givaudan SA, International Flavors & Fragrances, Inc., Lubrizol Corporation, Merck KGaA, Symrise AG, Sumitomo Corporation, Lonza Group Ltd, Lycored, Salvona LLC, Sensient Technologies Corporation, Nouryon, Reed Pacific Specialty Corporation, Chongqing Pellets Techniques & Trade Co. Ltd., Nanovetores, Biogenica, Gelyma, and Infinitec.
Other players operating in the value chain include Nagase & Co. Ltd., Mibelle AG, Sunjin Beauty Science Co. Ltd., Showa Denko K.K., and Berkem.
According to Eswara Prasad, Manager, Chemical and Materials, at Allied Market Research, “The North America & Europe Microencapsulated Ingredients market is expected to witness considerable growth owing to the rise in use of microencapsulated ingredients in the skin care application. In coming years, North America is expected to grow at noteworthy growth rate owing to rise in demand from end users in the countries such as the U.S., Canada & Mexico.
KEY FINDINGS OF THE STUDY:
- By ingredients, the UV filters segment emerged as the regional leader by acquiring around 23.01% of North America & Europe microencapsulated ingredients market share in 2018, and is anticipated to be the largest market during the forecast period
- By application, the anti-wrinkle & anti-aging cream segment was the largest revenue contributor in the North America & Europe microencapsulated ingredients market in 2018
- Europe is the major consumer of microencapsulated ingredients market among both regions. It is accounted for around 56.81% of the regional market share in 2018 as a result of huge consumer base and the presence of key players across the region.