Wellesley, Mass., May 25, 2017 (GLOBE NEWSWIRE) --
New estimates by BCC Research find a growing global demand for controlled release items – from fertilizers to food items, medicines, cosmetics and emerging applications. Encapsulation technologies and new uses are increasing worldwide that could drive the industry markets to USD $1.6 billion in annual sales by 2021.
The industry is predicted to average more than 6% CAGR in some key markets, and to remain near 5% or about $400 million in the United States, during the next five years, according to BCC Research's Controlled-release Technologies: Established and Emerging Markets.
Globally, the top five markets for these technologies have been the U.S., Switzerland, Australia, Norway and Germany -- higher-income nations where medicines, adhesives, convenience items and better-tasting food products were among the uses of controlled release products in 2013.
Research Highlights
- Food production using advanced fertilizers is the primary way these products are affecting the global economy. Only 51 of the 192 nations recognized by the United Nations account for 95% of global Gross Domestic Product.
- China’s growth and need for increased production will be a key industry driver.
"This is a field where new applications and the technologies to enable them are being devised very quickly,” says Kevin Fitzgerald, BCC Research editorial director. "Environmental pressures for zero-impact packaging certainly play a role for companies in higher-income regions and you can see it everywhere from single-use, premeasured consumer laundry detergent pouches to more complex infrastructure products.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.