Press release
Betaine Market Size is Projected to Reach $5.25 Billion by 2033 at a CAGR of 6.2% - Forecast Report 2024-2033
Betaine Market Report
The Business Research Company presents an extensive market research report on the Betaine Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The betaine market size has grown strongly in recent years. It will grow from $3.89 billion in 2023 to $4.13 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to rising demand in animal feed, increased health awareness, regulatory approvals, market penetration strategies, rise in aquaculture production.
The betaine market size is expected to see strong growth in the next few years. It will grow to $5.25 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to global trade and economic factors, expansion of nutraceutical market, consumer preference for sustainable products, population growth & urbanization, climate change impact. Major trends in the forecast period include biofortification efforts, holistic health approaches, alternative protein sources, plant-based revolution, clean label movement.
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Key Market Players:
Major companies operating in the betaine market report are Associated British Foods 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, Orison Chemicals Limited., Evonik Industries, Suki Skincare, Esprix Technologies, Trouw Nutrition, Dow, E. I. du Pont de Nemours and Company, AB Vista, HEALTHY (HANGZHOU) HUSBANDRY SCI-TECH, Tianshi Siliao, Agrana, Asahi Kasei, Niacet Corporation
Market Drivers:
The rising demand for personal care and cosmetic products is expected to boost the growth of the betaine market going forward. Personal care and cosmetic products are consumer products for hygienic practices, personal grooming, or beautification and are rinsed off immediately after use. Betaine is widely used in personal care and cosmetic products as it helps the skin adjust to moisture gains and losses by balancing the skin's hydration. Because of its mildly soothing properties, betaine is commonly used in cleansing blends to help counteract the potentially irritating effects of detergents. For instance, in February 2022, L'Oréal, a French-based personal care company reported a significant rise in 2021, generating global sales of $9.10 (€9.10) billion in 2021, up 15.4% year over year. L'Oréal's active cosmetics saw the biggest sales spike, up 28.4%, while professional products, were up 18.5%, followed by L'Oréal Luxe and consumer products at 16.5% and 10% respectively. Therefore, the rising demand for personal care and cosmetic products is driving the growth of the betaine market.
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https://www.thebusinessresearchcompany.com/report/betaine-global-market-report
The betaine market covered in this report is segmented -
1) By Type: Synthetic Betaine, Natural Betaine
2) By Form: Betaine Anhydrous, Betaine Monohydrate, Cocamidopropyl Betaine, Betaine Hydrochloride, Other Forms
3) By Application: Food And Beverages, and Dietary Supplements, Animal Feed, Personal Care, Detergent, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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