Global Betaine Market is Projected to Reach about USD 3.89 Billion by 2020
The demand for betaine has increased significantly in recent years. The global betaine market has high growth prospects, and has the potential to offer innumerable opportunities to new entrants in this market. The market is highly impacted with increasing applications in the personal care industry as a foaming and anti-inflammatory agent. The growing consumption of betaine in feed to enhance its nutritive value by regulating the metabolic process drives the betaine market. Betaine has a wide range of applications in the food industry as it helps in the dietary functions and is used in nutraceuticals to prevent heart and liver diseases. The health benefits of betaine are estimated to increase the number of applications of betaine in the global market.
The betaine market is segmented on the basis of application into food & beverages, animal feed, cosmetics, detergents, and others (including pharmaceuticals, and reagents). On the basis of form, the market is segmented into betaine anhydrous, cocamidopropyl betaine, betaine monohydrate, and others (including betaine HCL, betaine aspartate, and betaine citrate). Additionally, the market is segmented on the basis of type into synthetic betaine and natural betaine. The market has also been segmented on the basis of region into North America, Europe, Asia-Pacific, Latin America, and the Rest of the World (RoW).
The betaine market is projected to reach about USD 3.89 billion by 2020, at a CAGR of about 5.8% during the forecast period. The European market for betaine application in food and beverages is projected to increase as the regulatory bodies in Europe are continuously researching to analyze the effects of betaine on animals and humans. Betaine is gradually gaining popularity in the European market after the approval of its use in feed, and food and beverages by the regulatory bodies.
To maintain a competitive edge in the betaine market, the key players invest in the development and launch of new products and acquisitions. Leading players such as BASF SE (Germany), Associated British Food plc (U.K.), E. I. Du Pont de Nemours and Company (U.S.), and American Crystal Sugar Company (U.S.) have been profiled in the report. The report also provides a complete analysis of the prominent companies and a chronology of developments with respect to new products launched and their applications.
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