Press release
North America Betaines Market To Be Driven By The Increasing Demand For Betaine-Based Food Products In The Forecast Period Of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 4.7% (Global Betaines Market)
Betaine supports heart health, improves metabolism, exhibits anti-inflammatory effects, and helps in fat loss. In this regard, the increasing inclination towards health and fitness owing to the rising prevalence of obesity is driving the demand for betaine-based products.
The growth of the North American market is likely to add to the growth of the global market. Over the forecast period, the anticipated increase in application of betaine in home and personal care products owing to the rising disposable income and increasing expansion of major personal care companies in the region is likely to propel the market growth. The strong foothold of major market players, coupled with the favourable policies of the government encouraging the expansion of various companies, is further propelling the market growth.
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North America Betaines Industry Definition and Major Segments
Betaine is defined as an alkaloid which is obtained from sugar beets. The texture of the product is crystalline and is odourless. This sweet-tasting and water-soluble alkaloid is present naturally in quinoa, beef, and cereals, among others. Moreover, betaine is widely utilised in the food industry owing to various health benefits.
The significant applications of the product include:
Food and Beverages
Home and Personal Care
Animal Feed
Others
The regional markets for North America betaines include:
United States of America
Canada
North America Betaines Market Trends
The key trends in the betaine market in North America include the growing expansion of the e-commerce industry, which is offering lucrative opportunities to the market. Over the forecast period, the downstream products of betaine, such as personal care and clean-labelled nutritious sports drinks, are likely to witness escalated sales via the online platforms, which is a crucial trend in the market.
Moreover, the growing research and development activities taking place in nutraceutical laboratories are anticipated to be some other crucial trends in the market, which are likely to generate the demand for betaine in order to explore the potential application of the product.
Key Market Players
The major players in the market are E.I. Dupont De Nemours & Company, Solvay North America, LLC, Stepan Company, Colonial Chemical, Inc., Lubrizol Advanced Materials, Inc., BASF Corporation, American Crystal Sugar Company, and Inolex Chemical Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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