According to the latest report by IMARC Group, titled "Betaine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global betaine market size grew at a CAGR of around 6% during 2014-2019. Betaine is a modified amino acid that consists of glycine and methyl groups. It is naturally found in plants, animals and microorganisms, and can also be synthetically produced using chemical agents and intermediates. The compound is widely used for preventing the build-up of amino acid in blood vessels and treating the rare genetic causes of homocystinuria. It is usually utilized for reducing blood homocysteine levels to ensure optimal functioning of the eyes, heart, muscles and nerves. Apart from this, it is extensively used for improving digestion, promoting muscle growth, maintaining proper liver functioning, enhancing athletic performance, and minimizing the risks of cardiovascular diseases (CVDs) and stroke.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Betaine Market Trends:
The market is primarily driven by the significant growth in the pharmaceutical and nutraceutical industries. The increasing incidences of chronic lifestyle diseases and the growing health-consciousness among the masses have led to increased uptake of dietary supplements and nutritional products. Since betaine aids in improving strength, power, and muscle endurance while promoting immunity and metabolism, it forms an indispensable ingredient in these products. The compound is also increasingly utilized in animal feed in the form of additives to improve metabolism and enhance the nutritional value of the feed while reducing the chances of visual abnormalities and developmental delays caused by dietary deficiencies. The market is further driven by the growing application of betaine in the cosmetics and personal care industry due to its excellent water retention and moisturizing properties. Some of the other factors contributing to the market growth include rapid industrialization and the widespread adoption of the product in the manufacturing of paints, detergents, coatings and plastics. On account of the aforementioned factors, the market is projected to witness moderate growth during the forecast period (2020-2025).
- On the basis of the source, the market has been bifurcated into synthetic and natural betaine.
- Based on the product type, the market has been classified into betaine anhydrous, betaine monohydrate, betaine HCL, Cocamidopropyl betaine and others.
- On the basis of the end-use industry, the market has been divided into food, feed, personal care and other industries.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include United Sugars Corporation, AMINO GmbH, Associated British Foods plc, BASF SE, The Dow Chemical Company, Evonik Industries AG, Kao Group, Merck KGaA, Nutreco N.V., Solvay SA, and Stepan Company.
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