The present invention is a hot melt adhesive composition comprising at least one ingredient present in an encapsulated form. The encapsulated ingredient may be any known hot melt adhesive formulation ingredient as well as any hot melt adhesive additive such as antioxidants and fragrances for which there is a desirable change in adhesive properties by isolating such ingredient for a duration of time. The encapsulated ingredient is released from the shell by means of pressure, temperature, diffusion, pH, light, radiation, ultrasound, and combinations thereof. Hot melt adhesive compositions comprising at least one encapsulated ingredient are useful for a variety of novel products including self-supported friction glue sticks, non-tacky pelletized pressure sensitive adhesives, cohesive adhesive systems, hot melt adhesive compositions exhibiting improved thermal stability and odor, as well as for a variety of other adhesive applications.