Betaine Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Betaine Market Analysis
The Betaine Market is projected to register a CAGR of more than 6% during the forecast period.
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.
Hence, all such trends are likely to drive the demand for personal care products across the world, which is further likely to drive the demand for the betaine market during the forecast period.
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 Overview
The 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).
Betaine Market Leaders
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Evonik Industries AG
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BASF SE
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Dow
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Solvay
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Kao Corporation
*Disclaimer: Major Players sorted in no particular order
Betaine Market News
- December 2022: BASF introduced Euperlan NL Pearl, the first COSMOS-compliant, wax-based pearlizer designed for rinse-off applications. Euperlan NL Pearl is made up of organically produced substances such as hydrogenated vegetable oil, cocomidopropyl betaine, and glycerol oleate.
- August 2022: Evonik transformed its portfolio by divesting in U.S. betaine business. The company has entered into an agreement with Hopewell, Virginia to sell the whole betaine business in order to transform its care solutions business line to become a system solutions provider for the cleaning and personal care industries.
Betaine Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 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
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4.2 Restraints
- 4.2.1 Synthetic Cosmetics Leading to Skin and Hair Problems
- 4.2.2 Other Restraints
- 4.3 Industry Value-Chain Analysis
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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)
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5.1 Form
- 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
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5.2 Type
- 5.2.1 Synthetic Betaine
- 5.2.2 Natural Betaine
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5.3 Application
- 5.3.1 Food, Beverages, and Dietary Supplements
- 5.3.2 Animal Feed
- 5.3.3 Personal Care
- 5.3.4 Detergent
- 5.3.5 Other Applications
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 France
- 5.4.3.4 Italy
- 5.4.3.5 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 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
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6.4 Company Profiles
- 6.4.1 AMINO GmbH
- 6.4.2 BASF SE
- 6.4.3 Dow
- 6.4.4 Evonik Industries AG
- 6.4.5 Kao Corporation
- 6.4.6 Merck KGaA
- 6.4.7 Nutreco
- 6.4.8 Solvay
- 6.4.9 Stepan Company
- 6.4.10 Sunwin Biotech Shandong Co., Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Use of Betaine as Anti-stress Agent for Animals
Betaine Industry Segmentation
Betaine is a chemical compound that is neutral in nature. It is a pro-vitamin element that is frequently present in natural form. Betaine is typically used to treat physical aging, maintain a healthy metabolism, and strengthen weak muscles. Betaine also helps to improve power, muscle strength, endurance, and all other facets of physical performance. It mostly pertains to the pharmaceutical, food, beverage, feed, and other industries. The global betaine market is segmented by form, type, application, and geography. By form, the market is segmented by betaine anhydrous, betaine monohydrate, betaine HCl, cocamidopropyl betaine, and other forms. By type, the market is segmented into synthetic betaine and natural betaine. By application, the market is segmented into food, beverages, dietary supplements, animal feed, personal care, detergent, and other applications. The report also covers the market size and forecasts for the market in 15 countries across the globe. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).
| Form | Betaine Anhydrous | |
| Betaine Monohydrate | ||
| Betaine HCl | ||
| Cocamidopropyl Betaine | ||
| Other Forms | ||
| Type | Synthetic Betaine | |
| Natural Betaine | ||
| Application | Food, Beverages, and Dietary Supplements | |
| Animal Feed | ||
| Personal Care | ||
| Detergent | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Betaine Market Research FAQs
What is the current Betaine Market size?
The Betaine Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Betaine Market?
Evonik Industries AG, BASF SE, Dow, Solvay and Kao Corporation are the major companies operating in the Betaine Market.
Which is the fastest growing region in Betaine Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Betaine Market?
In 2024, the North America accounts for the largest market share in Betaine Market.
What years does this Betaine Market cover?
The report covers the Betaine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Betaine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Betaine Industry Report
Statistics for the 2024 Betaine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Betaine analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
