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"Global Betaine Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 5.8 Bn by 2028, Likely to Grow with the CAGR of 5.23% During the Forecast Period."
The global demand for nutritional products and dietary supplements are raising that is anticipated to drive this market during the forecast period. The advantages or health related products intake would be enhanced metabolism, increased muscle strength, power, and endurance is expected to boost the demand of the product during the forecast period. Qualities include high water holding capability enhances its utilization in cosmetics and toiletries that is anticipated to show a positive influence on the market of betaine growth during the forecast period. The Betaine is utilized in the feed additives to enhance the metabolic activity among animals. Increasing mal-nutritional in feedstock is anticipated to surge the nutritional value in the feed additives market growth during the forecast period. However, the presence of betaine is observed in wheat products, specific body abnormalities including visual and developmental delay could be related to its deficiency. Product advancements constituting of products in new hydrochloride form are anticipated to propel its market growth during the forecast period.
Rising healthcare Industry in developing countries to drive the Demand for Betaine
The healthcare industry is propelling by the various contributing factors that are supporting its market growth. Various government initiatives are also substantiating the growth of healthcare industry during the forecast period. Betaine is exhibiting lucrative growth opportunities in the healthcare industry supporting its industrial growth.
Personal care Segment held prominent share in Global Betaine Market in 2019
The Betaine is highly being adopted by personal care industry as a substitute to products such as sulphur-based surfactants. The personal care segment registers greater than 50% of the betaine consumption globally. Its water retention and moisturizing features make it a highly applicable raw material in the cosmetic industry. Its application is also highly observed as an emulsifier, surfactants and emollient for personal care products that includes lotion, shampoos and skin cleansers, among others. Currently the cosmetic industry worldwide is concentrated on advanced technology for imparting in new offerings with safe and sulfur-free natural ingredients. Thus it is anticipated to offer a suitable influence the demand of Betaine, as it is recognized as a surfactants, that has lesser risk of skin and eye irritation challenges.
The Asia-Pacific Region Is Projected to Register a Highest Growth In The Betaine Market during the Forecast Period
The market of personal care products anticipated for a noticeable rate of growth in the regions, such as Asia-Pacific and the Middle East region, with a shift in the cultural towards the western culture, rising demand for cosmetics among the population of youth generation, and increasing working women. Such trends are expected to propel the market demand of personal care products globally, that is further anticipated to propel the demand of betaine in the global market, during the forecast period.
Global Betaine market is fragmented among the number of local and global players. The companies operating in the Betaine associated products are competing in the global market through partnerships and mergers and acquisitions.
Key players operating in the global Betaine market are Associated British Foods Plc., Amino GmbH, DuPont, Lubrizol, American Crystal Sugar Company, BASF SE., Nutreco N.V., KAO Corp., Solvay, Stepan Company, and Sunwin Chemicals
Global Betaine Market Key Segments:
Global Betaine Market, By Application
- Food, Beverages, and Dietary Supplements
- Animal Feed
- Personal Care
- Other Applications
Global Betaine Market, By Type
- Synthetic Betaine
- Natural Betaine
Global Betaine Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America