Global Betaine Market to Witness Robust Growth, Reaching $4.84 Billion by 2027, Fueled by Rising Demand for Personal Care and Cosmetic Products
Aug 29, 2023
Global Betaine Market
Dublin, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The "Betaine Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global betaine market is projected to grow from $3.69 billion in 2022 to $3.91 billion in 2023, registering a compound annual growth rate (CAGR) of 6.0%. Over the forecast period, the market is expected to continue its growth, reaching $4.84 billion by 2027, with a CAGR of 5.5%.
Major players in the betaine market, including Associated British Food Plc., BASF SE, DuPont de Nemours Inc., Nutreco N.V., Solvay S.A., American Crystal Sugar Company, Amino GmbH, Kao Corporation, Stepan Company, Sunwin Biotech Shandong Co. Ltd., The Lubrizol Corporation, Merck KGaA, Inolex Inc., Navneet Chemical, Prasol Chemicals Pvt. Ltd., Alpspure Lifesciences Private Limited, Akshar Enterprises, and Orison Chemicals Limited, are covered in the report.
Reasons to Purchase:
Gain a Truly Global Perspective: The report covers 50+ geographies, providing a comprehensive understanding of the global betaine market.
Assess Impact of COVID-19: Understand how the market has been affected by the pandemic and how it is responding as the impact of the virus abates.
Analyze Geopolitical Events: Assess the influence of the Russia - Ukraine war on agriculture, energy, mineral commodity supply, and its direct and indirect impact on the betaine market.
Navigate High Global Inflation: Measure the impact of high global inflation on market growth and devise strategies to thrive in such economic conditions.
Create Regional and Country Strategies: Leverage local data and analysis to develop effective regional and country-specific strategies.
Identify Growth Segments: Identify lucrative growth segments for investment to capitalize on emerging opportunities.
Outperform Competitors: Utilize forecast data and market trends to outperform competitors in the betaine market.
Understand Customer Behavior: Gain insights into customer preferences and behavior based on the latest market shares.
Benchmark Performance: Benchmark performance against key competitors to identify areas for improvement and stay ahead in the market.
Support Decision-Making: Use reliable high-quality data and analysis to support internal and external presentations and make well-informed decisions.
Betaine is a neutral chemical compound of ammonia, known chemically as trimethyl glycine. It is obtained from sugar beets or synthesized with glycine and finds applications in medicine, liquid soap preparation, and pharmaceutical shampoos.
The main types of betaine are synthetic betaine and natural betaine. Synthetic betaine is an organic osmolyte chemical compound derived from the amino acid glycine. Various forms, including betaine anhydrous, betaine monohydrate, cocamidopropyl betaine, betaine hydrochloride, and others, are used in food and beverages, dietary supplements, animal feed, personal care, detergents, and other applications.
Technological advancements are a key trend gaining popularity in the betaine market. Major companies are focusing on developing innovative and technologically advanced solutions, such as artificial intelligence, to strengthen their market position.
For instance, in November 2022, Kensing LLC, a US-based manufacturer of specialty chemicals, acquired Hopewell, Virginia amphoteric surfactants, and specialty esters manufacturing operations from Evonik Corporation. This acquisition enables Kensing to expand its presence in personal care and home care ingredients and offer an expanded range of low-detergency products and services to customers. Evonik Corporation is a subsidiary of Evonik Industries AG, a Germany-based specialty chemicals company.
North America dominated the betaine market in 2022, with coverage also including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
The countries covered in the report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The rising demand for personal care and cosmetic products is expected to drive the growth of the betaine market in the coming years. Betaine is widely used in personal care and cosmetic products to help the skin adjust to moisture gains and losses and balance hydration. Its mildly soothing properties make it a common ingredient in cleansing blends to counteract potentially irritating effects of detergents.
For instance, in February 2022, L'Oreal, a French-based personal care company, reported significant sales growth in 2021, with global sales reaching $9.10 billion (€9.10 billion), up 15.4% year over year. L'Oreal's active cosmetics saw the biggest sales spike, up 28.4%, followed by professional products, L'Oreal Luxe, and consumer products at 18.5%, 16.5%, and 10% growth respectively. This rising demand for personal care and cosmetic products is driving the growth of the betaine market.
The betaine market comprises sales of betaine citrate and betaine aspartate. The market value represents the revenues gained from the sale of goods and/or services within the specified market and geography through sales, grants, or donations, in terms of USD.
No. of Pages
2023 - 2027
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered: 1. Executive Summary2. Betaine Market Characteristics3. Betaine Market Trends And Strategies4. Betaine Market - Macro Economic Scenario4.1. COVID-19 Impact On Betaine Market4.2. Ukraine-Russia War Impact On Betaine Market4.3. Impact Of High Inflation On Betaine Market5. Betaine Market Size And Growth5.1. Global Betaine Historic Market, 2017-2022, $ Billion5.1.1. Drivers Of The Market5.1.2. Restraints On The Market5.2. Global Betaine Forecast Market, 2022-2027F, 2032F, $ Billion5.2.1. Drivers Of The Market5.2.2. Restraints On the Market6. Betaine Market Segmentation6.1. Global Betaine Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.2. Global Betaine Market, Segmentation By Form, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.3. Global Betaine Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Food And Beverages, And Dietary Supplements
7. Betaine Market Regional And Country Analysis7.1. Global Betaine Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion7.2. Global Betaine Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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Global Betaine Market ResearchAndMarkets.com'sReasons to Purchase:Key Attributes:Report AttributeDetailsKey Topics Covered:1. Executive Summary2. Betaine Market Characteristics3. Betaine Market Trends And Strategies4. Betaine Market - Macro Economic Scenario5. Betaine Market Size And Growth6. Betaine Market Segmentation7. Betaine Market Regional And Country AnalysisAbout ResearchAndMarkets.comAttachment