Portland, OR, April 01, 2020 (GLOBE NEWSWIRE) -- Rise in disposable income in emerging economies and increase in demand for natural ingredients drive the growth of the North America & Europe microencapsulated ingredients market. Based on ingredient, the UV filters segment held the largest market share. Based on application, the whitening and lightening cream segment would register the fastest growth rate. Moreover, the region across Europe dominated the market in 2018.
According to the report published by Allied Market Research, the North America & Europe microencapsulated ingredients market garnered $229.9 million in 2018, and is expected to generate $349.2 million by 2026, witnessing at a CAGR of 5.3% from 2019 to 2026. The report provides a comprehensive analysis of changing market trends, key market players, major segments, market size & estimations, and competitive scenario.
Rise in disposable income in emerging economies and increase in demand for natural ingredients propel the growth of the North America & Europe microencapsulated ingredients market. However, stringent government regulations restrain the market growth. On the other hand, innovations in skincare products are expected to offer new opportunities in the coming years.
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The global market is segmented into ingredient, application, and region. Based on ingredient, the market is categorized into pigments, vitamins, UV filters, skin lightening components, essential oils, anti-aging components, and active ingredients. The UV filters segment accounted for the highest share in 2018, holding for nearly one-fourth of the North America & Europe microencapsulated ingredients market share, and is estimated to maintain its lead status during the forecast period. Contrarily, the anti-aging component segment is expected to maintain the largest CAGR of 5.8% from 2019 to 2026.
Based on application, the market is classified into color cosmetics, sunscreen lotions (UV protection), whitening & lightening creams, anti-wrinkle & antiaging creams, and others. The anti-wrinkle and anti-ageing cream segment held the largest market share accounting for one-fourth of the total market share. On the other hand, the whitening and lightening cream segment is expected to dominate the market throughout the forecasting period.
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Based on region, the market is analyzed across North America and Europe. The European region dominated the market in 2018, contributing to three-fifths of the total market share. At the same time, the region across North America is anticipated to register the fastest CAGR of 5.6% in between 2019 to 2026.
Leading market players analyzed in the research are BASF SE, Croda International PLC, Clariant AG, Kobo Products, Inc., 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, Euracli, Koehler, Air Liquide SA, Ashland Inc., Sensient Technologies Corporation, Nouryon, Reed Pacific Specialty Corporation, Chongqing Pellets Techniques & Trade Co. Ltd., Nanovetores, Biogenica, Gelyma, and Infinitec.
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