ID: PMRREP4088| 250 Pages | 21 Sep 2022 | Format: PDF, Excel, PPT* | Chemicals and Materials
The global betaine market is valued at US$ 3.5 Bn in 2022 and is likely to increase to a valuation of US$ 6.6 Bn by 2032, expanding at a healthy CAGR of 6.5% through 2032.
Based on product, bio-based betaine is popular and its demand is likely to increase at a compound annual growth rate of 5.5% between 2022 and 2032.
|
Betaine Market Size (2022E) |
US$ 3.5 Bn |
|
Projected Sales of Betaine (2032F) |
US$ 6.6 Bn |
|
Value CAGR (2022-2032) |
6.5% CAGR |
|
Value Share of Asia Pacific in Global Market (2021A) |
30% |
Betaine is an organic nitrogenous compound having molecular formulae ((CH3)3N+CH2COO−), which naturally occurs in sugar beet juice & marine algae. Betaine can be manufactured synthetically by using chemical agents & intermediates. Alternative names of betaine are oxyneurine, glycine betaine, (carboxymethyl) trimethyl ammonium inner salt, 1-carboxy-N, N, N-trimethyl metha-ammonium inner disalt, etc.
Betaine exists in various forms such as cocamidopropyl betaine, betaine anhydrous, betaine monohydrate, etc. Key uses of betaine include as a reagent in soldering, resin curing fluxes, and organic synthesis. Betaine also plays a crucial role in the animal as well as plants, it protects plant cells from the environment and decreases the production rate of amino acids in the human body. Furthermore, betaine finds a wide range of applications in numerous end-use industries such as food & beverages, cosmetics, animal husbandry, and others.
“Rising Global Population & Consumption of Food Products”
Over the past few years, the increased global population is estimated to push the consumption of different food products. This increased demand for food products contributes to rapid growth in the food & beverages industry. These factors are cumulatively leading to the rising demand for betaine, which is wide as an ingredient and additive in F&B products.
“Growing Awareness about Health Benefits of Dietary Supplements”
There has been a noteworthy increase in the concerns related to healthcare issues among people around the world, which has inclined individuals toward dietary supplements, including betaine. Since betaine helps improve endurance, power, muscle strength, and metabolism, its popularity has surged in recent years.
Stringent regulations imposed on the food industry are further stimulating the use of betaine in food processing, thereby driving overall market growth across regions.
“Increased Preference for Bio-based Betaine Ingredients in Cosmetics and Personal Care Products Industry”
The demand opportunities in the betaine market are likely to bed aided by growing opportunities in the cosmetics and personal care products industry, owing to increased preference for betaine ingredients by manufacturers of various cosmetic products.
“Over-Consumption of Betaine Causes Certain Side-Effects”
The over-consumption of betaine can lead to certain side effects on the health of human beings. In addition, a growing preference for cheaper substitute ingredients is also likely to hamper the adoption of betaine to some extent.
“Increased Population in South East Asia & Pacific Driving Betaine Demand”
Based on geography, the betaine market is classified into six regions, which include, Eastern Europe, Latin America, North America, Asia Pacific, the Middle East & Africa, and Western Europe. The fast-rising population in the South East Asia & Pacific region and growing industrial infrastructure are expected to propel growth opportunities for betaine manufacturers over the coming years.
Europe is likely to hold a noticeable position in the global market due to the presence of stringent regulatory bodies across the region. FEEDAP and Novel Foods Regulation are the regulatory bodies that are present in the European region and are promoting the use of betaine in the food & beverages industry.
Latin America and the Middle East & Africa are experiencing noticeable growth in the food industry. For example, consumption of food in GCC increased by a valuation of 59.2 Mn in 2021, which bodes well for betaine suppliers in the region.
The global betaine market is expected to be fragmented owing to the presence of small and international players at a regional level. Some of the key players are identified across the value chain of the global betaine market, which are Sigma-Aldrich, Inc., BASF SE, DowDuPont Inc., Solvay S.A., Nutreco, American Crystal Sugar, Kao Corporation, Amino GmBH, Stephan Company, Sunwin Chemicals, Associated British food Plc, and among others.
The global betaine market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The global Betaine market also contains projections using a suitable set of assumptions and methodologies. The research report on the global betaine market provides analysis and information according to market segments such as geographies, applications, and industry.
By Product Type:
By Product Form:
By Application:
By End-use Industry:
By Region:
The value of the global betaine market is US$ 3.5 Bn in 2022.
Asia Pacific leads the global market with 30% market share in 2022.
Demand for bio-based betaine is estimated to progress at a CAGR of 5.5%.
The global market for betaine is expected to reach a valuation of US$ 6.6 Bn by 2032.
|
Attribute |
Details |
|
Forecast period |
2022-2032 |
|
Historical data available for |
2017-2021 |
|
Market analysis |
USD million for value |
|
Key regions covered |
|
|
Key countries covered |
|
|
Key market segments covered |
|
|
Key companies profiled |
|
|
Report Coverage |
|
|
Customization & pricing |
Available upon request |
Delivery Timelines
For more information on this report and its delivery timelines please get in touch with our sales team.
