Market Overview
Betaine is a derivative of the nutrient choline which is found in microorganisms, plants, and animals and is a significant component of many foods, including wheat, shellfish, spinach, and sugar beets. Betaine is methyl derivative of amino acid which is also known as trimethylglycine. Betaine is useful to fight against several health issues especially heart diseases, muscle weakness, and promote protein synthesis in the body. From last few years the use of betaine in dietary supplement has increased. Many key players are using betaine to introduce the product line which is exercise focused and energy supplements especially in developed countries. Animal feed which are reach source of betaine content are in huge demand which has shifted the dynamics of betaine market from last few years.
Market Forecast
The betaine market is mainly driven by rising awareness about the nutritional value of betaine among consumer and increasing application of betaine in various pharmaceutical products and animal feed. Growing demand of dietary supplements and sport nutrition is anticipating the growth of betaine market in developed countries. Increasing use of betaine in cosmetics, personal care products and detergents is also supporting the increasing demand of betaine from various industries.
These factors will play a key role in the growth of betaine market at the CAGR of 4% during 2016-2022.
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Downstream analysis-
Betaine is majorly used in dietary supplements and sport nutrition supplements. Betaine hydrochloride is mainly use as a dietary supplement whose purity and strength can vary according to type of the dietary supplement. Betaine hydrochloride is also used to treat irregularly low levels of potassium, high fever, anemia, asthma, atherosclerosis, yeast infections, diarrhea, food allergies, gallstones, inner ear infections, and thyroid disorders. It is also used to protect the liver as it prevents or reduces accumulation of fat in the liver.
Competitive analysis-
The major key players in betaine market are
• Associated British Foods PLC (U.K.)
• DuPont (U.S.)
• Amino GMBH (Germany)
• BASF SE (Germany)
• Nutreco N.V. (Netherlands)
• E. I. du Pont de Nemours and Company (U.S.)
• Kao Corporation (Japan)
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Regional Analysis
The global betaine market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these North America region has the major market share followed by Europe. Support from regulatory authorities and increasing application of betaine in various animal feed products is driving the market growth in North America region. Growing awareness about health benefits of betaine is playing the key role to drive the market growth in Asia Pacific region. Europe is witnessing significant growth of betaine market in pharmaceutical segment due to rise in research and development activities in that particular region.