According to IMARC Group’s latest report, titled “Betaine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a value of US$ 3.8 Billion in 2020.Betaine is a chemical compound that is generally found in living organisms, including plants, microorganisms and animals. Also known as trimethylglycine (TMG) or betaine anhydrous, it ensures proper cellular reproduction, liver functioning and carnitine production in the body. Additionally, it also aids in reducing the risks of developing cardiovascular diseases among individuals while improving digestion and liver functioning. Apart from this, it is utilized as a surfactant and emollient for manufacturing several personal care products.
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The global market is primarily driven by the increasing preference for dietary supplements among the masses. Since betaine is widely used as a key ingredient in the formulation of numerous health supplements, this is providing an impetus to the market growth. Moreover, the rising usage of betaine in the manufacturing of industrial products, such as detergents, paints and coatings, and plastics, is also providing a boost to the market growth. Some of the other factors creating a positive outlook for the market include the increasing health consciousness among individuals and significant growth in the pharmaceuticals sector. Looking forward, IMARC Group expects the betaine market to grow at a CAGR of around 6% during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- American Crystal Sugar Company (United Sugars Corp.)
- Amino GmbH
- Associated British Foods PLC
- BASF SE
- Dow Inc.
- Evonik Industries AG
- Kao Corporation
- Merck KGaA, Nutreco (SHV Holdings)
- Stepan Company
Breakup by Source:
Breakup by Product Type:
- Betaine Anhydrous
- Betaine Monohydrate
- Betaine HCl
- Cocamidopropyl Betaine
Breakup by End-Use Industry:
- Food Industry
- Feed Industry
- Personal Care Industry
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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