The present invention relates to the field of delivery systems. More particularly, the present invention relates to a process for preparing a powdered composition comprising granules. Said granules comprise at least one active substance present in an encapsulated form and in a non-encapsulated form. They are obtained by drying a mixture comprising an aqueous phase of a water-soluble polymer, a Pickering emulsion comprising a non- encapsulated active substance and a microcapsule slurry comprising an encapsulated active substance that can differ or being the same as the non-encapsulated substance. The invention further relates to granules obtained by said process and to products containing them.