Betaine Market to reach $5.8 Bn by 2032, Says Global Market Insights Inc.
Major betaine market participants include Nutreco N.V., Solvay SA, Evonik Industries AG, BASF SE, Kao Corporation, DuPont de Nemours, and Stepan Company.
Selbyville, Delaware, Sept. 10, 2023 (GLOBE NEWSWIRE) —
The betaine market valuation is expected to be worth USD 5.8 billion by 2032, as reported in a research study by Global Market Insights Inc.
Increasing consumer awareness about the benefits associated with betaine will stimulate industry growth from 2023 to 2032. Betaine has been studied for its potential health benefits, including its role in promoting heart health, liver function, and muscle growth. A recent study conducted in May 2023, with collaboration from researchers in Canada, Iran, and the United States, has uncovered promising findings regarding betaine’s impact. The study revealed that betaine supplementation has the potential to enhance overall muscular endurance in young team handball players. Moreover, the research demonstrated positive effects on various endocrine markers, highlighting the compound’s multifaceted benefits in sports and exercise science. These findings offer valuable insights into the potential applications of betaine in improving athletic performance and hormonal regulation among athletes.
Prompted by such studies, nutraceutical and dietary supplement manufacturers are increasingly incorporating betaine into their products, favoring the market dynamics. As consumers become more health-conscious and interested in natural remedies, the awareness of these potential benefits will contribute to the market growth .
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The betaine market from the synthetic segment will record appreciable growth through 2032. Synthetic betaine is gaining popularity due to its versatility and cost-effectiveness in various industries. In agriculture, it is used as a feed additive to boost animal growth and health while reducing production costs, exemplified by its widespread adoption in poultry farming. In the cosmetics industry, it’s utilized in skincare products for its hydrating properties, as seen in the formulation of moisturizers. Additionally, synthetic betaine is an attractive choice in the pharmaceutical sector for its potential therapeutic applications, such as managing homocystinuria. Its multifaceted uses and cost-efficiency make synthetic betaine increasingly sought-after across diverse sectors.
The betaine market from the betaine hydrochloride segment projected to grow at a significant CAGR between 2023 and 2032. The demand for betaine hydrochloride is primarily driven by its pivotal role in various applications, including the dietary supplement industry due to its digestive benefits. It’s often used in digestive enzyme supplements to aid in stomach acid production and alleviate symptoms of indigestion. Additionally, the animal feed industry relies on betaine hydrochloride as a feed additive to enhance nutrient absorption and improve livestock and poultry performance, exemplified by its use in optimizing swine diets for better growth rates. Its versatility in promoting digestion and animal nutrition underpins the growing demand for betaine hydrochloride across these sectors.
The food & beverages segment could dominate the betaine market share during 2023 to 2032. Betaine is experiencing robust demand in the food and beverage industry due to its multifaceted benefits. Its natural origin and versatility make it an attractive choice for manufacturers seeking to enhance product functionality. Betaine’s use as a flavor enhancer, stabilizer, and ingredient in sports drinks and nutritional supplements is on the rise, driven by consumers’ growing preference for healthier, functional beverages. Notably, the product employed in formulating products focused on promoting hydration and post-exercise recovery, reflecting its increasing relevance in the health and wellness-oriented F&B market.
Asia Pacific betaine market is experiencing remarkable growth due to several factors. The increasing demand for animal feed additives to support the growing livestock industry in countries like China and India is a major driver. Additionally, the rising interest in dietary supplements and functional foods is fueling demand for betaine-based products in the health-conscious Asian market. Furthermore, the availability of cost-effective manufacturing processes in the region has led to increased production. Overall, the Asia Pacific region is emerging as a key player in the expanding industry.
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Major companies operating in the betaine market include Nutreco N.V., Solvay SA, Evonik Industries AG, BASF SE, Kao Corporation, DuPont de Nemours, and Stepan Company. These companies prioritize strategic partnerships, the introduction of new products, and commercialization strategies to expand their market presence. They are also making substantial investments in research and development to bring innovative products to market and maximize their revenue potential.
For instance, Evonik, a leading supplier of personal care ingredients, is actively reshaping its portfolio towards a System Solutions approach, with a recent move involving the divestment of its U.S. betaine business. In July 2022, Evonik agreed to sell its entire Betaines business located in Hopewell, Virginia, including its staff and a portion of the site, to specialty chemicals firm Kensing LLC. This divestment represents a significant step in Evonik’s strategy to transform its Care Solutions business line into a System Solutions provider, focusing on serving the personal care and cleaning sectors with comprehensive solutions.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Betaine market 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Regional trends
2.4 Type trends
2.5 Form trends
2.6 Purity trends
2.7 Application trends
Chapter 3 Betaine Market Insights
3.1 Industry ecosystem analysis
3.1.1 Distribution channel analysis trends
3.1.2 Vendor matrix
3.1.3 COVID-19 impact on value chain
3.2 Raw material outlook
3.3 Regulatory landscape
3.3.1 North America
3.3.3 Asia Pacific
3.3.4 Latin America
3.3.5 Middle East & Africa
3.4 Technology landscape
3.5 Pricing analysis, by region
3.5.1 North America
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 Middle East & Africa
3.6 Cost structure Analysis
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls and challenges
3.8 Innovation & sustainability
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer’s power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.11 PESTEL analysis
3.12 Impact of COVID-19 on industry, by end use
3.13 Impact of Russia Ukraine war on the industry
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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