The Global "Betaine Market" is expected to grow at a CAGR of 5.1% during the forecasting period (2022-2029).
Betaine is an amino acid that has been shown to have potential benefits for fighting heart disease, improving body composition, and helping promote muscle gain and fat loss because of its ability to promote protein synthesis in the body. It is a pro-vitamin nutrient, found either unnaturally or from sugar beet syrup, which subsidizes a healthy metabolism while improving physical performance, strength, and muscle endurance. Betaine also contributes to cosmetics and toiletries due to its water-holding and moisturizing properties. The Betaine market is broadly divided into two types, natural and synthetic. Naturally, Betaine serves as biological osmolytes material for fortification against osmotic pressure, high temperature, high salinity, and drought.
The global Betaine Market is primarily driven by the widespread use of health supplements in developing countries like India and China, and Betaine increased usage in making health supplements. Moreover, the growing application of Betaine in the pharmaceutical industry will also drive the market for the forecast year.
However, the availability of substitutes in the market such as DL-Methionine and Dimethylthetin in the supplement segment will be hampered the growth of Betaine. Moreover, the overdose of Betaine has side effects that will also hamper the market.
By Type, the global Betaine Market is segmented into Synthetic Betaine and Natural Betaine. Natural Betaine has the dominant position in the Betaine market due to enhanced lean growth, tolerance to heat stress, and reduced energy requirements. Additionally, natural betaine, due to these characteristics, is used in several industries, including animal feed, cosmetics, food & beverages, and pharmaceuticals. Hence this is expected to increase its demand and retain its dominance in the forecast period. It is expected that Natural Betaine will grow at a CAGR of ~XX% during the forecast period.
By application, the global Betaine Market is segmented into Food, Beverages and Dietary Supplements, Animal Feed, Personal Care, and Detergent. Food, Beverage, and Dietary Supplements have higher dominance in the application of Betaine due to an increased usage of betaine in the making of food and dietary supplements.
By geography, the global Betaine Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East, and increasing consumption of health drinks and dietary supplements in emerging economies of India and China. Regulatory bodies in Europe, such as Novel Foods Regulation and its usage due to its positive effects, have high demands for Betaine and have made APAC hold most of its market share.
In 2017, India witnessed at least 5-6 new food supplement brands, and this trend is likely to continue even in 2018. The rising awareness regarding the benefits of food supplements and a focus on quality products customized to Indian needs will stay relevant and grow for the supplements market.
However, Europe is after APAC in terms of the market share of Betaine Market, due to approval by regulatory authorities for the usage of betaine in animal feedstock and food and beverage industry is driving the growth of this market in Europe.
In 2017, the EFSA Panel on Nutrition, Novel Foods and Food Allergens (NDA) concluded that betaine as a novel food (NF) is safe to be used at a maximum intake level of 6 mg/kg body weight per day in addition to the intake from the background diet.
Key players are adopting strategies such as Acquisition, new product launches, and investment in R&D to stand out as strong competitors in the market. The major players include Associated British Food plc, BASF SE, DuPont, Nutreco N.V., and Solvay S.A. Other key players in the market include American Crystal Sugar Company, Amino GmbH, Kao Corporation, Stepan Company, and Sunwin Chemicals.
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