Betaine Market Size, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3837
Betaine Market size is slated to grow at a progressive rate over the span of 2021-2027 due to the product’s rising demand in the food and beverages industry, personal care industry, and commercial use as a surfactant.
Betaine market is further witnessing increased growth on account of myriad health benefits associated with its consumption including improved muscle strength, metabolism, and endurance. Besides, positive attributes like high water holding capacity promote its use in toiletries and cosmetics, which is anticipated to drive the industry progression further.
An increased inclination towards the consumption of energy and sports drinks would as well complement the market expansion through 2027, as it is helpful in healing muscular weakness and augmenting athletic performance.
Betaine is also used in feed additives to enhance metabolism in animals. Growing nutritional deficiencies in the feedstock are estimated to evoke the demand for nutritional value feed additives over the foreseeable time frame.
However, excessive consumption of betaine is slated to produce negative effects on the body. This includes diarrhea, and nausea among others. Moreover, the product can also increase the total cholesterol levels in the human body, thus hindering market growth.
Based on the form, cocamidopropyl betaine segment is projected to provide an impetus to the overall market growth in the coming years. Cocamidopropyl betaine is commonly known as a synthetic surfactant that is mainly derived from coconut oil. The product is mainly utilized as a surfactant in products like hand soaps, shampoos, makeup removers, shaving cream, cosmetics, and body washes as an emulsifying agent and a thickener. In addition, it is also used for reducing the irritation in these products. Rising sales of personal care and cosmetic products worldwide would potentially support the segmental growth over the stipulated period.
In terms of type, natural betaine market seize would expand through 2027 over its counterpart, due to its improved characteristics like tolerance to heat stress, reduced energy requirements, and improved lean growth. Natural betaine is also a prominent feed additive to protect animals from heat stress and improve overall health.
Considering the end-use segmentation, betaine market is expected to gain traction from the personal care industry as the product is being largely used as an alternative to sulfur-based surfactants. Betaine acts effectively as irritation mitigating agent, which is used in ultra-mild personal care products and baby shampoos. The product’s water retention and moisturizing properties make it a widely used raw material for the personal care and cosmetic industry. These trends are therefore likely to drive the demand for betaine across the personal care and cosmetic sector worldwide, thus fueling the market expansion.
Prominent brands operating in the personal care industry are as well pivoting to making use of betaine in the products to offer enhanced skin care and customer satisfaction. For instance, Suki Skincare, had in 2021, launched Reviving Cooling Spray for menopausal and perimenopausal women. The spray is a blend of betaine and Fresoclat MGA and works to offer a blast of cool to the skin to combat the effects of hot flashes.
Regionally, North America betaine market would register notable gains through 2027, owing to the product’s rising demand from industries engaged in the production of animal feed, personal care, function drink products, and dietary supplements. The United States is poised to record massive growth in the ensuing years, with hefty investments in research and development for innovating new personal care products being the growth driver.
Prominent companies operating in the global betaine industry including DuPont, BASF SE, KAO Corp., Solvay, and Lubrizol, amongst others, are engaged in industry strategies like acquisitions, collaborations, product launches, and partnerships, to gain a competitive edge in the overall market.
COVID-19 impact on betaine market growth
Global betaine industry is expected to be significantly affected by the ongoing COVID-19 pandemic, owing to a considerable decline in production of personal care products and cosmetics, in light of the movement restriction and temporary halt in production. However, a surge in the consumption of healthy foods and growing cognizance towards wellness during the pandemic phase, the demand for betaine is expected to surge dynamically.
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