The ‘Global Betaines Market Size, Share, Scope, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global betaines market, assessing the market on the basis of its segments like type, application, grade, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Betaines Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 3.91 billion
- Forecast CAGR (2023-2028): 5.4%
- Forecast Market Size (2028): USD 5.36 billion
|Market Size in 2022||USD 3.91 billion|
|Revenue Forecast in 2028||USD 5.36 billlion|
|Growth Rate CAGR||4%|
|Major Players||Inolex Inc., Kao Corporation, Evonik Industries AG, Solvay S.A., Clariant Corporation, Lubrizol Corporation, Stepan Company, Colonial Chemical Inc.|
The global betaines market is observing rapid growth owing to the increased demand for betaines from consumers due to the health benefits associated with it such as energy, endurance, increased muscle strength, and enhanced metabolism. Inherent features in betaines such as high-water retaining capability are expanding its uses in the personal care and cosmetics sectors which is further increasing the demand for the market.
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People are becoming health conscious and are demanding for better dietary and nutrition supplements which is acting as a major factor for the growth of the market. Owing to their health advantages they are widely used in the food and beverages industry.
Betaine is capable of multi functioning both as methyl donor and surfactants which make it more suitable for use in home care sector. The growing usage as a surfactant in home care and personal care products is expected to influence the growth of the betaines market positively. The surfactant properties enhance its use in products such as in body washes, cleansing lotions, hand soaps, shampoos, baby products, and creams, among other products.
Betaines Industry Definition and Major Segments
Betaine is also known as trimethylglycine (TMG) or betaine anhydrous and is a sweet, crystalline substance that helps in the functioning of the cellular reproduction and liver and also help in the preparation of carnitine. Moreover, it also helps the body metabolise homocysteine which is a type of amino acid.
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Based on type, the market is segmented into:
On the basis of application, the market is bifurcated into:
- Home and Personal Care (as Surfactants)
Based on grade, the market is divided into:
- Home and Personal Care
- Food and Beverages
On the basis of region, the market is classified into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Betaines Market Trends
The key trends in the global betaines market include the increased demand for synthetic betaine which is expected to be better in features in comparison to natural betaine. Also, development and improvement in the features of synthetic betaine such as better endurance to heat stress, lesser energy needs, and better lean growth is fuelling the demand for the synthetic betaines from various end users worldwide.
Several major key players are carrying out research and development activities in order to produce bio-based products for use at homes and for personal care. New and cost-efficient versions of betaines can provide adequate thickening while still reducing the formulation cost. Betaine surfactants used in various systems deliver improved mildness and foam owing to the easy processability of the product.
North America held a larger share in the betaines market owing to the rising number of food industries and increasing use of betaine in the home and personal care products in the region. Significant investments in research and development activities using assistance from sulphur-free raw materials to develop new care products and generic medicines is expected to further enhance the growth of the market in the region.
Key Market Players
The major players in the global betaines market report are :
- Inolex Inc.
- Kao Corporation
- Evonik Industries AG
- Solvay S.A.
- Clariant Corporation
- Lubrizol Corporation
- Stepan Company
- Colonial Chemical Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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