Betaine Market Overview
The major trend being witnessed in the global betaine market is the emergence of new application of betaine as anti-stress agent in domestic animals. With the onset of more awareness about health of farmed animals, a large number of farmers are shifting toward health supplements to boost the state of well-being of the animals. It is one such compound that has numerous health benefits such as improving digestion, heart health, supporting liver functioning, and muscle growth. Moreover, in the recent times, it is increasingly being adopted in stress relieving applications in the area of animal husbandry.
Betaine is a type of amino acid compound, which is known by the name, trimethylglycine. It is a nutrient found in different types of food sources such as wheat bran, sugar beets, spinach, bulgar grain, and veal. The animal husbandry industry is expanding in the developing countries of Asia-Pacific, leading to higher consumption of feed. The betaine market is rapidly expanding in the European nations, after the approval of use of trimethylglycine in feed, food, and beverages by the regulatory bodies. The demand for the compound is also driven by its uses in food and beverages, and cosmetic industries, owing to water-holding and moisturizing properties.
On the basis of type, the betaine market is categorized into synthetic betaine and natural betaine. The demand for synthentic betaine is expected to grow at a significant pace as modern healthcare industry requires synthetic betaines to fulfil nutritional requirement of an animal or an individual, which otherwise cannot be done by natural ones.
On the basis of form, the market is categorized into cocamidopropyl betaine, betaine monohydrate, betaine anhydrous, and others (betaine HCL, betaine aspartate, and betaine citrate). Demand for cocamidopropyl betaine is expected to grow at a significant pace, owing to its rising demand from end-use industries such as personal care and cosmetics. Moreover, the increase in the popularity of energy and sports drinks is expected to boost the betaine market in the near future.
Based on the application, the betaine market is categorized into food and beverages, detergents, animal feed, cosmetics, personal care, and others (pharmaceuticals and reagents). The rising awareness on improving the health of individuals and associated benefits of trimethylglycine in personal care products is expected to drive the market.
Based on region, the betaine market is categorized into Europe, North America, Asia-pacific, Latin America, and Middle East and Africa. Among all the regions, Asia-Pacific region held a significant share in the market driven by the demand for betaine-based products used in personal care, cosmetics, and healthcare. Over the coming years, the region will continue to dominate the market as a result of rising awareness on health in countries such as China, India, and Vietnam.
Betaine Market Dynamics
Drivers
Major driver identified in the betaine market is the rising demand for the compound from the animal feed, and food and beverages industries. The market is anticipated to increase with a rise in awareness about nutritional value of the product when utilized in multi-functional usage as well as in dietary supplement, such as methyl donor and surfactant. The increase in the popularity of energy and sports drinks in which the compound is used has further extended the scope for the market. The growth of emerging countries are estimated to boost the betaine market in near future.
Restraints
Major restraint identified in the betaine market is saturated market conditions for the compound in developed regions such as Europe and North America. Some of the European and North American nations have been witnessing population stagnation or decline, which is resulting in restraining the demand for the product. Moreover, these countries are also shifting away from the expansion of animal husbandry industry, which is further acting as a major constraint in the market.
Opportunities
With rapid economic development, the betaine market is growing exponentially in emerging economies. The growing income and focus on healthy life style, the demand for betaine-based health supplements such as drinks and other nutrients are rising at a rapid pace. In coming years, emerging countries are expected to witness rise in the middle-class population that will further boost the demand for health-related products. Owing to the rising demand for the health-related products, the market will continue to grow at a rapid pace during the forecast period.
Betaine Market – Competitive Landscape
Some of the major players operating in the global betaine market are Associated British Foods plc, BASF SE, DowDupont Inc., Nutreco N.V., Solvay S.A., American Crystal Sugar Company, Kao Corporation, Stepan Company, Amino GmbH, and Sunwin Chemicals Co. Ltd.
