In a continually evolving global environment, your knowledge and awareness of key markets are crucial. Thus, we present a comprehensive view of the growing Betaine Market. This new market research report loans valuable insights into a market experiencing unprecedented growth, fueled by increasing utilization in industries such as personal care and food and beverage, alongside rising endorsements for animal stress relief.
The report spotlights specific areas for opportunity and growth, including the escalating usage of betaine in personal care products, owing to its proven irritation-mitigation and moisturizing properties. It further highlights North America as a dominating region due to high demand from industries such as personal care, animal feed, dietary supplements, and functional drink products. This report’s thorough analysis ensures you navigate the betaine market with confidence, understanding critical shifts, and identifying prime opportunities for investment and expansion.
In 2020, COVID-19 had a detrimental effect on the market.However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- The market that was looked at is growing because more businesses are using it as a surfactant, the food and beverage industry is using it more, and the personal care industry wants more of it.
- On the flip side, synthetic cosmetics leading to skin and hair problems are likely to act as restraints for the studied market.
- During the forecast period, the studied market is likely to have opportunities related to the use of betaine as a stress reliever for animals.
- North America dominated the market across the world, owing to the high demand for personal care products, food, beverages, and dietary supplements in the region.
Betaine Market Trends
Personal Care Segment to Dominate the Market Demand
- Betaine has been used a lot in the personal care industry instead of surfactants made from sulfur.It acts effectively as an irritation-mitigating agent and is mainly used in baby shampoos and ultra-mild personal care products.
- Water retention and moisturizing properties make betaine a widely useful raw material for the cosmetic industry.
- Besides, it is widely used as a surfactant, emulsifier, and emollient in personal care products such as lotions, shampoos, skin cleansers, etc.
- The demand for personal care products has been increasing at a noticeable rate in regions like Asia-Pacific and the Middle East, thanks to cultural change, the influence of western culture, increased cosmetic demand from the youth population, and rising women's employment.
- In India, beauty and personal care products are driving demand for India’s e-commerce growth. According to the Unicommerce data, e-commerce sales volume grew 69.4% in FY22 compared to 44% in FY21, of which the beauty and personal care category posted a growth of 143% in volumes year-on-year.
- Additionally, according to the Indonesian Bureau of Statistics (BPS), until December 2022, the cosmetics industry grew by 9.61% compared to the same period in the previous year. The main platform is e-commerce, with which the country is experiencing growth in the personal care industry.
- Moreover, according to the trade map, Indonesia imported over 309 million dollars' worth of cosmetics and skincare in 2021. In 2021, China held the largest proportion of the beauty and skincare import market in Indonesia, at 20.2 percent, followed by South Korea at 19 percent.
North America Region to Dominate the Market
- The North American region dominated the global market. Betaine's demand in the region is primarily driven by the strong demand from the industries engaged in the production of personal care, animal feed, dietary supplements, and functional drink products.
- Due to rising demand in the pharmaceutical and personal care industries, the United States is the largest market in the area.The country is the world's largest producer of pharmaceutical and personal care products.
- Happi Magazine says that the market for skin care products in the US alone was worth more than USD 18 billion in 2021, with face care making up most of that.
- The country has been putting a lot of money into research and development to come up with new personal care products that don't contain sulfur.In the coming years, the development of generic medicines is also likely to give the betaine market new chances.
- According to Happi Magazine, in the United States, face cleansers were the greatest multi-store skin care sales in 2021. Sales for this segment totaled over $1.65 billion in that year. Hence, supporting the growth of the market
- Hence, owing to all the above-mentioned factors, the demand for betaine in the market is expected to increase significantly in the region during the forecast period.
Betaine Industry OverviewThe betaine market is highly fragmented in nature. Some of the major players in the market include BASF SE, Dow, Evonik Industries AG, Solvay, and Kao Corporation, among others (in no particular order).
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Table of Contents1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increased Demand from Personal Care Sector
4.1.2 Growing Usage in Food and Beverage Industry
4.1.3 Increased Commercial Usage as Surfactant
4.2.1 Synthetic Cosmetics Leading to Skin and Hair Problems
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Value)
5.1.1 Betaine Anhydrous
5.1.2 Betaine Monohydrate
5.1.3 Betaine HCl
5.1.4 Cocamidopropyl Betaine
5.1.5 Other Forms
5.2.1 Synthetic Betaine
5.2.2 Natural Betaine
5.3.1 Food, Beverages, and Dietary Supplements
5.3.2 Animal Feed
5.3.3 Personal Care
5.3.5 Other Applications
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.4.4 South America
18.104.22.168 Rest of South America
5.4.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AMINO GmbH
6.4.2 BASF SE
6.4.4 Evonik Industries AG
6.4.5 Kao Corporation
6.4.6 Merck KGaA
6.4.9 Stepan Company
6.4.10 Sunwin Biotech Shandong Co., Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Use of Betaine as Anti-stress Agent for Animals
A selection of companies mentioned in this report includes:
- AMINO GmbH
- BASF SE
- Evonik Industries AG
- Kao Corporation
- Merck KGaA
- Stepan Company
- Sunwin Biotech Shandong Co., Ltd.