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Global Betaine Market it is anticipated to reach a market value of US$ 5.7 Bn by 2027
Bizizz Market Research has recently published a research report, “Betaine Market By Type (Synthetic Betaine and Natural Betaine), Application ((Food, Beverages, and Dietary Supplements), and Animal Feed, Personal Care, Detergent and Other Applications), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 - 2027”.
As per the report, Global Betaine Market was valued at US$ XX Bn in 2018 and it is anticipated to reach a market value of US$ 5.7 Bn by 2027, witnessing a CAGR of 5.8 % during the forecast period. Key drivers of the market are rising demand for health-beneficiary products associated with high nutritional value that is highly being utilized among the food industry. However, Over-consumption of the product is expected to pose side effects is anticipated to hinder Betaine market growth during the forecast period.
The Betaine has key drivers in the global market with rising demand for health beneficiary offerings with a good nutritional value by end-users worldwide. A plunge in the application of Betaine in personal care offerings is substantiating the market demand for its enhanced water retention and moisturizing qualities. The synthetic cosmetics generally encounter hair and skin challenges and thus customers prefer cosmetics that have good nutritional ingredients. The application of Betaine is a surfactant in the cosmetic industry, because of its water-holding capability. The adoption of betaine contributes to higher metabolism in animals that are acting as a donor of methyl. Therefore a higher demand for products that have Betaine ingredients as an animal feed additive is being observed in recent years. Various drivers that are associated with geographical locations are also estimated to the growth of this market. The Betaine usage is observed in areas such as sport and energy drinks in developing nations is anticipated to generate substantial growth opportunity during the forecast period.
The Betaine market is anticipated to register a CAGR of over 5.8 % during the forecast period.
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By Application, Personal care segment held a prominent share in Global Betaine Market in 2018.
The Betaine is widely adopted by the personal care industry as an alternative for sulphur-based surfactants. The personal care industry registers greater than 50% of Betaine intake worldwide. The properties include water retention and moisturizing properties enabling it as a highly adaptable raw material in the cosmetic industry. Its utilization is also mostly applicable as emulsifier, surfactants and emollient in personal care products such as lotion, shampoos and skin cleansers, among others. Cosmetic industry globally is concentrated currently on the latest technology in including into new offerings that are safe and sulfur-free natural ingredients. Therefore, it is expected to show a positive influence on the demand of Betaine in the global market, because it is known as a surfactant, having reduced risk of skin and eye irritation problems.
Asia pacific is Anticipated to Dominate the Global Betaine Market during the Forecast Period
The Asia Pacific region in the personal care offerings is expected for a noticeable rate of market growth, including Asia-Pacific and the Middle East region, where a shift in customers lifestyle in terms of culture towards the westernization is propelling its demand in cosmetics industry among youth generation and working women. These trends are anticipated to expand the market demand of personal care offerings worldwide, It is further expected to fuel the demand of Betaine in the Asia Pacific region during the forecast period.
Global Betaine market was highly fragmented among the number of local and global players. Organizations offering these products are expanding their market presence through investments and market diversification strategies.
Prominent players operating in the Global Betaine Market are Amino GmbH, DuPont, Lubrizol, BASF SE., American Crystal Sugar Company, KAO Corp., Associated British Foods Plc., Solvay, Nutreco N.V., Stepan Company, and Sunwin Chemicals, among others.
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