According to Global Market Insights, Inc., “Microencapsulation Market size was over USD 7 billion in 2017 and is projected to expand at over 9% CAGR over the forecast timeframe.” The recent Frutarom-AB-Biotics agreement has sent out waves of anticipation in microencapsulation market, given that the deal has been signed by Frutarom to acquire AB Biotics’ iron deficiency ingredient unit, AB-Fortis. Apparently, the Israel-based flavor company plans to encompass AB-Fortis into its established framework of specialty fine ingredients, and tap into its microencapsulation technology to increase the absorbability of iron in tissues, and enable a reduced iron dosage in ingredient extracts, without any side effects or any compromise on the taste factor.
With the acquisition of AB-Fortis, Frutarom has successfully crossed a double benchmark – that of having firmly established its space in microencapsulation industry, while simultaneously having made its tenth acquisition of 2017 so far, the last one being, 210-million-dollar takeover of the Israel ingredients company, Enzymotec.
Furthermore, it is prudent to mention that AB-Fortis’ inclusion within Frutarom’s umbrella may prove to be highly beneficial for the ex-iron-deficiency-ingredient unit of the Spanish biotech company AB-Biotics. Considering the prominence of Frutarom in the growing specialty health ingredients market, it is expected that the company will exploit the full potential of AB-Fortis to mark a precedence in the microencapsulation market as well.
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An insight of microencapsulation market outlook from the pharma sector
Microencapsulation technology finds extensive applications across a plethora of end-use domains, though the pharmaceutical sphere, by far, remains one of the most lucrative sectors, driven by the deployment of this technology for improving the process and effectiveness of drug delivery and camouflage the bitter taste of medicines. Also, this sector has achieved commendable prominence in the developed regions of the globe, thereby providing an impetus to the overall microencapsulation market size.
As per statistics, the pharma sector in North America is in exceedingly good shape, driven by the contribution of the United States, which is touted to be the most important pharmaceutical market is the world. In conjunction with Mexico and Canada in fact, it represents one of the biggest continental pharmaceutical business globally, which is evidence enough to claim that North America is one of most remunerative grounds for microencapsulation industry. Given the robust expansion of the pharma industry this sector in the U.S., it has been forecast that U.S. microencapsulation market share is likely to accumulate substantial revenue in the ensuing years.
A microencapsulation industry research report compiled by Global Market Insights, Inc., claims that the Asia Pacific is likely to account for more than USD 2 billion of the overall microencapsulation market revenue share by 2024. Quite overtly, this can be credited to the growing awareness with regards to the health & well-being among individuals in tandem with the rise in purchasing power and shifting dietary preferences.
Driven by the extensive developments prevalent across the end-use sectors such as pharma, food additives, agrochemicals, and the like, microencapsulation industry share is likely to amass considerable popularity in the years ahead. A report by Global Market Insights, Inc., claims that microencapsulation market size is likely to have a target revenue estimation of more than USD 14 billion by 2024. It is prudent to mention that companies partaking in this business share have been spending excessively on R&D activities, to bring about certain essential changes in the product deployment and commercialization, that is certain to further impel microencapsulation industry size in the forthcoming years.