During the forecast period, the Betaine market is projected to grow at a rate of 6.6% and reach USD 4.49 billion by 2027.
New York, NY -- (SBWIRE) -- 12/21/2020 -- Betaine Market Overview
During the forecast period, the Betaine market is projected to grow at a rate of 6.6% and reach USD 4.49 billion by 2027. Betaine has gained relevance in recent years and, like never before, has become extremely important. Factors such as increasing awareness of the need to consume a balanced diet with nutritional values and improving understanding among consumers of the health benefits associated with betaine are some of the notable factors supporting market growth.
The report also provides key insights into the factors and aspects that are likely to influence the growth of the industry. Along with the prominent drivers and restraints, the report considers the pandemic of COVID-19 as a key influencing factor. The report assesses the comprehensive impact of the pandemic on the Betaine market. It also offers insights into how the crucial segments of the market have been affected by the pandemic. The report assesses comprehensive data to generate a total impact analysis of the pandemic and offers a futuristic outlook to offer a general idea of the current market scenario and economic landscape.
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The growth of the market is also fostered by the increasing demand for beverages containing natural products. The compound finds application in different functional drinks, wherein it is used to enhance the drink's nutritional values. The compound is used in the form of anhydrous betaine due to its ability to support the body with TMG. The continuously expanding geriatric population and the associated increasing demand for dietary supplements act as a growth factor.
The report further offers radical data about the intense competitive landscape along with a comprehensive analysis of the key players and the strategies schemes they employ. The report encompasses all the corporate deals, mergers and acquisitions, joint ventures, collaborations, product launches, and brand promotions, government deals and agreements, and other strategic alliances. Along with this, the report also covers the technological developments and product advancements of the prominent players.
The report covers extensive profiling of the leading competitors, including:
BASF SE, Amino GmbH, Evonik Industries AG, Dow, Kao Corporation, Evonik Industries AG, Nutreco, Merck KGaA, Stepan Company.
The report provides a comprehensive analysis of the key geographical regions to impart a deeper understanding of the Betaine market. The regional analysis covers the assessment of the production and consumption rate, import/export, supply and demand ratio, market share, market size, revenue contribution, current and emerging trends, and the existence of the key players of the Betaine market in each region. Furthermore, the report also covers the country-wise analysis of the Betaine market.
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The Betaine market is further segmented on the basis of product types offered by the market and the application spectrum.
Form Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
· Cocamidopropyl Betaine
· Betaine Anhydrous
· Betaine HCl
· Betaine Monohydrate
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
· Natural Betaine
· Synthetic Betaine
End-use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
· Food & beverages
· Cosmetics and personal care
· Animal feed
In terms of region, the market that held more than 30% of the market in 2019 can be seen as dominating North America. Market dominance in the region is attributed to the approval by regulatory bodies, such as the FDA, of the use of the compound for the treatment of high levels of homocysteine and considerable awareness of the nutritional benefits of betaine, which results in its increased use in functional beverages, dietary supplements and animal feed products. Due to the high consumption of ready-to-eat and junk products, a major concern for the population of this region is the high obesity rate. The aforementioned factor has resulted in increased demand for a reduced-calorie diet that can support the process of weight loss, which also results in high demand for the compound in this region.
The Betaine report is formulated through extensive primary and secondary research and further validated through industry experts and professionals. The data has been accrued through authentic sources, including interviews, documents, databases, and other sources to offer accurate insights into the industry to offer beneficial data to the readers and companies.
Key Features of the Betaine Market Report:
· Detailed assessment and exhaustive understanding of the Betaine market
· Significant insights into manufacturing processes, major barriers, and risks
· 8-year forecast estimation to offer information about the market size and market share on the global and regional levels
· Evaluation of the key drivers, restraints, growth opportunities, threats, limitations, barriers, and other key elements
· Identification of growth prospects and potential for the Betaine industry
· Comprehensive analysis of the key market players and their strategies
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