Betaine is a kind of neutral chemical compound. Betaine is a type of pro-vitamin nutrient generally present in the form of natural. It is found in sugar beet, cereals, seafood, wine and other plants. Betaine is primarily used in the treatment of muscular weakness, healthy metabolism and degeneration in the body. Betaine also helps in improving physical performance including power, strength and muscle endurance. It is mainly applicable in food and beverages, feed, pharmaceutical industries and others. Rising demand for health supplements and nutritive food products is expected to support the market of betaine across the globe.
Betaine Market Segmentation
Betaine market is segmented on the basis of application which includes pharmaceutical, food and beverages, personal care and feed. Among all these segments pharmaceutical is expected to account for major market share followed by personal care. Rising awareness among the consumer for health beneficiary products coupled with increased consumption of health supplements across the globe is expected to support the demand of betaine market in pharmaceutical products. Also, personal care segment is expected to show a substantial growth in the near future. Due to the high usage of synthetic cosmetics, consumers around the world are facing various skin or hair related problems. This has led to increase for the demand of cosmetics with nutritive ingredients such as nutraceutical products which is simultaneously expected to drive the demand for betaine in personal care segment during the forecast period.
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Globally due to its wide usage and applications betaine is predicted to show a healthy growth during the forecast period. Among all the regions North America is expected to be the major contributor in terms of revenue in betaine market followed by Europe. Among all the countries the U.S. is expected to occupy the major position on the pie in terms of market share followed by Canada. Rising demand of energy drinks in the U.S is expected to support the demand of betaine market across North America region. The increased usage of betaine in Europe due to the approval of its usage in feed, food and beverages industry by the regulatory bodies is predicted to be the major driving factor for betaine in Europe. Asia Pacific is also expected to show a substantial growth in betaine market during the forecast period. Increasing demand for dietary supplements across the region is expected to fuel the demand of betaine market in the near future. In Asia Pacific countries such as China, Japan and India are expected play major role in terms of revenue contribution in betaine market.
Betaine Market Drivers
The nutritional value and multifunctional practices of betaine is predicted to support growth of betaine, market during the forecast period. Moreover, increased emphasis on the use of nutritive ingredient in food and beverages products is expected to drive the demand of betaine market in the near future. Also, rising demand of energy and sports drinks in developing regions is expected to be the major factor to fuel the growth of betaine market for next five to six years.
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Betaine Market Key Players
Key international players operating in betaine market include Amino GmbH, E.I. Dupont De Nemours & Company and Nutreco N.V. among others.