Global Betaine Market to Grow at 4.6% During 2024-2032, Impelled by Growing Demand for Dietary Supplements

July 06, 2020 | Chemical & Materials

According to the latest report by IMARC Group, titled "Betaine Market Report by Source (Synthetic, Natural), Product Type (Betaine Anhydrous, Betaine Monohydrate, Betaine HCl, Cocamidopropyl Betaine, and Others), End-Use Industry (Food Industry, Feed Industry, Personal Care Industry, and Others), and Region 2024-2032," the global betaine market reached a value of US$ 4.1 Billion in 2023. 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.

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 grow at a CAGR of 4.6% during the forecast period (2024-2032).

Market Summary:

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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Source, Product Type, End-Use Industry, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
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Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Betaine Market to Grow at 4.6% During 2024-2032, Impelled by Growing Demand for Dietary Supplements

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