Global Betaines Market Report and Forecast 2023-2028
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Global Betaines Market Report and Forecast 2023-2028
Market Outlook
The global Betaines Market attained a volume of around 995.1 KMT in 2022. Aided by the rising demand for betaines from sectors such as cosmetics, home and personal care, and food and beverage, the market is projected to further grow at a CAGR of 4.4% between 2023 and 2028, to reach a volume of 1276.2 KMT by 2028.
Betaines, also known as non-protein amino acids, are a type of alkaloids which are found in sugar beets. Betaine has a sweet taste used in various industrial and commercial sectors. It also contains medicinal properties which are associated with blood purification and enhanced blood circulation. In addition, betaine improves muscle building, increases metabolism, and pushes endurance of the human body. Hence, the increasing inclination towards consuming healthy food is driving the global betaines market.
Additionally, betaine is abundant in wheat bran, wheat germ, spinach, and beets, among others. In this regard, the thriving food and beverage sector, supported by the growing
population, rising disposable income, and increasing demand for premium packaged food and drinks, are bolstering the betaine demand. Innovations in cooking methods are further generating the demand for betaine.
Betaine possesses anti-ageing, anti-wrinkle, and moisturising properties which improve skin texture due to which betaines are witnessing a significant demand in the cosmetics sector. Over the forecast period, the anticipated increase in sale of high-grade anti-ageing beauty products is expected to provide impetus to the betaines market.
Also, betaine is a successful surfactant which improves foam performance, as well as kills harmful contaminants and bacteria. As a result, increasing hygiene awareness among consumers are propelling the demand for betaine. Accordingly, the anticipated increase in the sale of dish liquids and hard surface cleaners across institutions, schools, colleges, hospitals, and clinics, among others, is expected to aid the market for betaines in the coming years.
At a regional level, North America has been a significant market for betaines, due to its evolving food sector, and increased awareness about health benefits of betaines. In the coming years, the market in Asia Pacific is expected to witness substantial growth, fuelled by growing demand for betaine-containing food products and skin care products. Furthermore, the thriving ecommerce sector is another crucial trend in the market which is expected to fuel the sale of downstream betaine products. The market for betaines is also expected to be supported by the increasing purchasing power of consumers across emerging economies.
Market Segmentation
The market can be divided on the basis of type, application, grade, and regions.
Market Breakup by Type
•Natural
•Synthetic
Market Segmentation by Application
•Industrial
•Home and Personal Care (as Surfactants)
Market Classification by Grade
•Home and Personal Care
•Food and Beverages
Market Break-up by Region
•North America
•Europe
•Asia Pacific
•Latin America
•Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the betaines market companies. Some of the major key players explored in the report are as follows:
•Inolex Inc.
•Kao Corporation
•Evonik Industries AG
•Solvay S.A.
•Clariant Corporation
•Lubrizol Corporation
•Stepan Company
•Colonial Chemical Inc.
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https://www.bharatbook.com/report/1391937/global-betaines-market-report-and-forecast
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