LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global betaine market since 2018 and the market is poised to grow by USD 956.31 million during 2019-2023, progressing at a CAGR of over 6% during the forecast period.
Read the 124-page research report with TOC on "Betaine Market Analysis Report by end-users (food and beverages, feed additives, personal care, and others) and geography (APAC, Europe, MEA, North America, and South America) and Segment Forecasts, 2019 - 2023".
The market is driven by the increase in demand for betaine from the personal care industry. Also, the use of betaine in health supplements is anticipated to further boost the growth of the market during the forecast period.
The anti-aging, anti-inflammatory, and skin whitening properties of betaine makes it ideal for use in skincare products. Betaine is also used in hair care products because of its ability to reduce hair fall and enhance hair growth. The demand for betaine toothpaste is also high as it helps in curing the symptoms of dry mouth or xerostomia. Therefore, the increasing demand for betaine from the personal care industry will fuel the betaine market growth during the forecast period.
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Major Five Betaine Companies:
Associated British Foods Plc
Associated British Foods Plc has business operations under various segments including grocery, sugar, agriculture, ingredients, and retail. The company manufactures betaine under its business unit AB Agri Ltd.
BASF SE
BASF SE provides agricultural solutions, chemicals, functional materials and solutions, and performance products. The company manufactures betaine under the registered name DEHYTON K, for the surfactants industry.
DowDuPont Inc.
DowDuPont Inc. operates under various segments such as agriculture, performance materials and coatings, industrial intermediates and infrastructure, packaging and specialty plastics, electronics and imaging, nutrition and biosciences, transportation and advanced polymers, safety and construction, and corporate. The company offers betaine under the registered name GENENCARE OSMS BA.
Solvay Group
Solvay Group has business operations under four segments, namely advanced materials, advanced formulations, performance chemicals, and corporate & business services. The company manufactures betaine in the form of coconut oil-derived cocamidopropyl betaine.
Stepan Co.
Stepan Co. offers chemicals used in food, flavoring, nutritional supplement, and pharmaceutical applications. The company also offer polymers, such as polyurethane polyols, polyester resins, and phthalic anhydride, used in various applications. The company offers betaine under its brand name AMPHOSOL CG.
Technavio has segmented the betaine market based on the end-users and region.
Betaine End-Users Outlook (Revenue, USD Million, 2019 - 2023)
- Food and beverages
- Feed additives
- Personal care
- Others
Betaine Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- MEA
- North America
- South America
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