Betadine Market to Witness Astonishing Growth by 2024 INOLEX INC. of the United States, AMINO GmbH of Germany
Research Reports
Apr 15, 2022
Betaine Market Overview:
Globally, it has been marked that the betadine market occupies a CAGR value of 4.84% during the market forecast period. It reaches a USD of about 4479.0 million by the end of 2024 Betaine, a derivative of choline, is found naturally in plants, animals, and microorganisms. It is a significant part of foods such as shellfish, sugar beets, spinach, and wheat. It can fight heart diseases and muscle weaken, while encouraging synthesis of protein in the body. The global betaine market report by Market Research Future (MRFR) consists of various development techniques as well as analysis of its wide scope of applications for the forecast period 2024.
Betaine Market Scope:
The global Betaine Market is set to achieve significant revenue over the forecast period. Consumption of nutrition supplements filled with betaine can bode well for the market. This is exemplified by the procurement of energy and sports drinks. The trend can sustain due to its advocation by athletes and sports enthusiasts. Its use in other products such as detergents, personal care products, and cosmetics can spur its demand greatly. Emphasis on animal health is likely to spike the need for high-performance additives. Consumption of animal feed can increase their productivity, increase lean meat yields, and lowered costs of choline chloride and methionine can bolster its demand greatly.
Betaine possesses high water-retention and moisturizing properties, which in turn is triggering the need for cosmetics and personal care products. Furthermore, trials supported by ample evidence highlighting the benefits of consuming betaine will bolster the market demand. Recently, Aker BioMarine provided evidence of krill being a prime source for extraction of the compound. Recommendations for choline-rich diets for European and North American consumers can further expand the market size to a considerable degree.
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Segmentation:
The global betaine market is segmented by type, form, and application.
By type, the market is segmented into natural betaine and synthetic betaine.
By form, it is segmented into betaine monohydrate, betaine anhydrous, and cocamidopropyl betaine.
Major applications comprise pharmaceutical, dietary supplements, cosmetics, animal feed, and others.
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Regional Analysis:
Geographically, the global betaine market covers North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (ROW).
North America has a major market share owing to applications in animal feed products and support from regulatory bodies. Research and development initiatives and awareness of its benefits can drive the demand in the region. The thriving animal husbandry sector and the need for nutrient-dense diets is likely to find many takers among farmers of the region. Consumption of betaine can tackle deficiencies in animal diets and improve their metabolism.
Europe is estimated to witness tremendous growth due to the investments in research and development activities for applications of betaine. Consumption of sports supplements are likely to bode well for the market. Approval of betaine by the European Commission is expected to widen its integration in isotonic ready-to-drink beverages, drink powders, and cereal and protein bars. Furthermore, consumption of betaine anhydrous for improving performance of athletes can spike the demand for betaine.
APAC is touted to exhibit the fastest growth rate during the forecast period due to high awareness of betaine among the populace. Approval by regulatory bodies which can promote the consumption of foods and beverages rich in betaine can prove fruitful for the market.
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Competition Outlook:
BASF SE, Amino GMBH, Nutreco N.V., Kao Corporation, Associated British Foods PLC, E. I. du Pont de Nemours and Company, and DuPont are major players of the global betaine market. Investments by companies for expanding their product portfolio are likely to be witnessed in the coming years. Collaborations between companies can see a launch of novel products. Recently, Solzayme and BASF decided to launch an algae-based betaine ingredient to be used in personal care products such as dishwashing liquids, liquid soaps, and soaps.
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