Increasing awareness about health supplements is driving the market globally. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Betaine Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR % during the forecast period.
Betaine is majorly used in dietary supplements and sport nutrition supplements. Betaine hydrochloride is mainly use as a dietary supplement whose purity and strength can vary according to type of the dietary supplement. Betaine hydrochloride is also used to treat irregularly low levels of potassium, high fever, anemia, asthma, atherosclerosis, yeast infections, diarrhea, food allergies, gallstones, inner ear infections, and thyroid disorders. It is also used to protect the liver as it prevents or reduces accumulation of fat in the liver.
The betaine market is mainly driven by rising awareness about the nutritional value of betaine among consumer and increasing application of betaine in various pharmaceutical products and animal feed. Growing demand of dietary supplements and sport nutrition is anticipating the growth of betaine industry in developed countries. Increasing use of betaine in cosmetics, personal care products and detergents is also supporting the increasing demand of betaine from various industries.
Betaine manufacturers across various regions are focusing on R & D to penetrate the global market and to meet the growing demand for the product in various industries based to its functionality. Rising demand in dietary supplements and changing lifestyle among the consumers propels the growth of betaine market.
The key players profiled in the global market are Associated British Foods PLC (U.K.), DuPont (U.S.), Amino GMBH (Germany), BASF SE (Germany), Nutreco N.V. (Netherlands), E. I. du Pont de Nemours and Company (U.S.) and Kao Corporation (Japan) among many others
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The global betaine market has been divided into type, form, application, and region.
Based on Type: Natural Betaine, and Synthetic Betaine
Based on Form: Betaine Anhydrous, Cocamidopropyl Betaine, Betaine Monohydrate
Based on Application: Dietary Supplements, Animal feed, Cosmetics, Pharmaceuticals, and Others
Based on Region: North America, Europe, Asia Pacific, and ROW.
The global betaine Industry is segmented into North America, Europe, Asia Pacific, and Rest of the World (ROW). North America region has the major market share followed by Europe. Support from regulatory authorities and increasing application of betaine in various animal feed products is driving the market growth in North America region. Growing awareness about health benefits of betaine is playing the key role to drive the market growth in Asia Pacific region. Europe is witnessing significant growth of betaine market in pharmaceutical segment due to rise in research and development activities in that region.
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