Pune, India, May 22, 2019 (GLOBE NEWSWIRE) -- Betaine Market is poised to touch USD 4,479.0 Mn by 2024 at an impressive 4.84% CAGR during the forecast period (2018-2024), reveals the latest report by Market Research Future (MRFR).
Market Analysis
As per the latest report published by Market Research Future (MRFR), the global betaine market is set to surge at a compound annual growth rate (CAGR) of 4.84% between 2019 and 2024. Additionally, the market value is likely to grow to more than USD 4,400 Mn by the end of the assessment period. Betaine, a by-product of refined sugar from beetroot, finds a wide range of application across several industries. Betaine is also referred to as betaine anhydrous¸ trimethyl glycine or glycine betaine and is available in two variants (synthetic and natural). Some of the natural variants include quinoa, amaranth grain, bulgar grain, turkey breast, veal, wheat bran, sweet potato, spinach, beef, and rye grain.
Betaine is a popular ingredient used for marking food & beverage products, nutraceuticals, pharmaceutical, cosmetics, animal feed, among others. Betaine has a high nutritional value, which drives its popularity in the F&B industry. This remains a major force behind the growth of the betaine market worldwide. Moreover, the pharmaceutical industry presents lucrative growth opportunities for betaine suppliers.
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Competition Tracking
Some of the leading companies operating in the Global Betaine Market include AMINO GmbH (Germany), Kao Corporation (Japan), SOLVAY (Belgium), Nutreco N.V. (Netherlands), INOLEX Inc. (US), DowDuPont (US), BASF SE (Germany), Associated British Foods plc (UK), Stepan Company (US) and The Lubrizol Corporation (US).
Market Segment
MRFR’s report includes a comprehensive segmental analysis of the global Betaine Market based on type, category, and application.
Based on type, the Betaine Market has been segmented into anhydrous betaine , cocamidopropyl betaine, and others. The anhydrous betaine segment makes a significant contribution to the global betaine market in terms of revenue. The segment is expected to capture a strong CAGR during the forecast period and reach a market valuation of more than USD 1,300 Mn. In addition, the segment is likely to retain its pole position throughout the assessment period. Betaine has emerged as a key ingredient in food supplements. Its special characteristics make it an apt ingredient that helps in boosting athletic performance and reducing homocysteine levels.
By category, the Betaine Market has been segmented into synthetic betaine and natural betaine. Of the two, the latter is expected to exhibit a relatively higher CAGR of 5.05% during the assessment period. Natural betaine is witnessing a strong demand due to its osmolytic property, which allows it to maintain excellent moisture level and prevent osmotic stress. The factor mentioned above has made natural betaine a popular ingredient across cosmetics, animal feed, pharmaceuticals and food & beverages.
Based on application, the Betaine Market has been segmented into Food & Beverages, Personal Care, Animal Feed and others. The personal care segment accounts for a healthy market share in terms of revenue. Furthermore, the segment is expected to surpass a market valuation of USD 1,500 Mn by 2024, reflecting an impressive growth rate.
Browse the market data and Information spread across 133 pages with 173 data tables and 42 figures of the report “Betaine Market Report - Forecast 2018-2024” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/betaine-market-one-7874
Regional Analysis
The global Betaine Market has been covered across regions such as Europe, Asia Pacific, North America, the Middle East, Africa, and Latin America. In terms of revenue, the North America betaine market accounts for the largest market share and the trend is likely to continue throughout the forecast period. In 2018, the region commanded 32.63% share of the market. This is partly owing to the increased application of betaine in industries such as personal care and animal feed. APAC ranked second in the pecking order and commanded an impressive market share of 29.20% in 2018. Robust growth of end-industries such as pharmaceutical, personal care, and animal feed is driving the demand for betaine in APAC. Japan, China and India have emerged as the top destinations for market players operating in the region. Europe is also viewed as an important market for betaine. Moreover, the market in Europe is projected to exhibit the fastest growth during the forecast period. In 2018, the Europe market represented a market share of 24.38%. The animal feed industry in Europe is a major consumer of betaine and makes a significant contribution to the region’s market in terms of revenue. On the flip side, health supplement sales remain sluggish in the region, which continues to undermine the market prospects in Europe.
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