Global, regional and country-level analysis and forecasts of Betaine Market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
According to the report “Betaine Market By Type (Synthetic Betaine And Natural Betaine), By Form (Betaine Anhydrous, Cocamidopropyl Betaine, Betaine Monohydrate), By Application (Food & Beverages, Animal Feed, Pharmaceuticals, Cosmetics, Detergents), And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, the Global Betaine Market was worth USD 2.95 billion in 2016 and is estimated to be growing at a CAGR of 6.4%, to reach USD 4.02 billion by 2021.
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The market is showcasing evident potential in the mentioned forecasting period. Betaine is a type of neutral chemical compound.
Betaine is basically a pro-vitamin nutrient commonly present in the form of natural betaine.It is present in sugar beet, cereals, spinach, broccoli, seafood, wine and other plants.
Betaine is mostly used in the treatment of muscular weakness, healthy metabolism and degeneration in the body. Betaine also helps in improving physical performance including power, strength and muscle endurance.
It is widely used in food and beverages, feed, pharmaceutical industries and others. Rising demand for health supplements and nutritive food products is expected to support the market of betaine across the globe.
Betaine is a chemical compound by nature and is normally found in various different vegetables. Betaine aids in healthy metabolism and is widely used in the food industry.
Betaine is also used as an additive in animal feed, which helps in carrying nutritive value by supporting the functionality of nervous system and helps in brain development in animals. It is also acknowledged as an anti-stressing agent and is found to improve athletic performance.
The health benefits of betaine are estimated to increase the number of applications of betaine in the global market.
The market is driven by increasing demand for health beneficiary products with high nutritional value among customers worldwide. Furthermore, there has been a surge in the usage of betaine as personal care product, owing to its water retention and moisturizing properties.
Consumers are opting for cosmetics with nutritive ingredients because Synthetic cosmetics often results in hair or skin problems. Betaine is also used as a surfactant in the cosmetic industry, due to its water holding capacity.
In addition, betaine improves metabolism in animals and acts as methyl donor. Thus, betaine is observing a huge demand as animal feed additive.
Different geographical drivers are also accountable for the growth of this market. Increasing application areas of betaine in sport and energy drinks in emerging countries is expected to create significant opportunity for the growth of this market in the future.
The major factor restraining the growth of the betaine market is that the over consumption of betaine can cause health problems. Moreover, substitutes like Dimethylthetin and DL-Methionine are restricting the growth of the market.
The Global market for betaine is broadly categorized into Synthetic betaine and Natural betaine. Based on form, the market is segmented as Betaine Anhydrous, Cocamidopropyl Betaine and Betaine Monohydrate.
Based on Application, the market is further segmented into Food & Beverages, Animal Feed, Pharmaceuticals, Cosmetics and Detergents. Use of betaine in Pharmaceutical accounted for the highest revenue of the overall market and Cosmetics is projected to witness high growth rate during the forecast period.
On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Betaine market was dominated by North America, with the overall market share of over 30% globally.
North America was followed by Europe and Asia-Pacific. Asia Pacific is predicted to grow at a rapid pace in the coming few years.
Some of the major companies dominating the market are:
- Associated British Food Plc
- BASF SE
- Nutreco N.V
- Solvay S.A
- American Crystal Sugar Company
- Amino GmbH
- Kao Corporation
- Stepan Company
- Sunwin Chemicals
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