Betaine Global Market Report 2024

The global betaine market has grown strongly in recent years. It will grow from $3.89 billion in 2023 to $4.13 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be credited to heightened demand for betaine in the animal feed sector, driven by increased awareness of its health benefits. Regulatory approvals played a pivotal role in facilitating market entry, and strategic penetration strategies employed by businesses further contributed to the expansion of betaine applications. Additionally, the upsurge in aquaculture production, fueled by growing consumer demand for seafood, bolstered the overall growth of betaine as a key ingredient in aquafeed formulations.

The global betaine market is expected to see strong growth in the next few years. It will grow to $5.25 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period is linked to global trade dynamics and economic factors, the continual expansion of the nutraceutical market, a consumer inclination toward sustainable products, population growth coupled with urbanization trends, and the impact of climate change. Key trends expected during this period encompass biofortification initiatives, a focus on holistic health approaches, the exploration of alternative protein sources, the ongoing plant-based revolution, and the momentum of the clean label movement.

Anticipated market growth in the betaine sector is driven by an increasing demand for personal care and cosmetic products. Personal care and cosmetic items, designed for hygiene, grooming, and beautification, form a significant consumer market. Betaine, valued for its ability to regulate skin hydration by adapting to moisture fluctuations, is a prevalent ingredient in such products. Its mild soothing properties make it particularly suitable for cleansing formulations, counteracting potential irritations caused by detergents. Notably, in February 2022, L'Oréal, a leading French-based personal care company, reported robust financials, achieving global sales of $9.10 (€9.10) billion in 2021, marking a 15.4% year-over-year increase. The substantial sales surge in L'Oréal's active cosmetics, professional products, L'Oréal Luxe, and consumer products segments underscores the pivotal role of betaine in meeting the rising demand for personal care and cosmetic products.

The betaine market is poised for growth due to the escalating prevalence of malnutrition, characterized by deficiencies, excesses, or imbalances in nutrient intake. Malnutrition adversely impacts health by depriving the body of essential vitamins, minerals, and nutrients necessary for maintaining healthy tissues and organ function. Betaine emerges as a key factor in preventing and combating malnutrition, especially in populations with limited access to diverse and nutrient-rich diets. Its multifaceted contributions to cellular metabolism, homocysteine regulation, and gut health position it as a valuable nutrient in addressing malnutrition and promoting overall well-being. According to the Joint Child Malnutrition Estimates (JME) by the World Health Organization in June 2023, 37 million children globally are grappling with overweight conditions. South Asia and the Sub-Saharan Africa region witnessed an unfortunate increase of over 2 million in stunting rates in 2022 compared to 2020. This prevalence of malnutrition is a significant driver for the betaine market.

Technological advancements represent a prominent trend gaining traction in the betaine market. Key industry players are directing their efforts towards developing innovative and technologically advanced solutions, leveraging artificial intelligence to enhance their market position. For instance, in February 2021, Libra Specialty Chemicals Ltd., a UK-based chemical manufacturer, exemplified this trend by implementing modern technology to produce low-salt betaines with an increased plant capacity. Libra's flagship membrane system, driven by an artificial intelligence operating system, facilitates the production of low-salt betaine surfactants. This high-tech system requires only one operator for seamless functionality, allowing formulators to include betaines with minimal salt content (0.5% or even 0.05%). This innovation enables the formulation of a broader range of finished goods, positioning companies at the forefront of technological advancement in the betaine market.

Major companies in the betaine market are strategically focused on introducing innovative products and obtaining regulatory approvals to gain a competitive edge. These companies invest in the development of new drugs and biological products, such as anhydrous powders, and submit them to regulatory agencies, such as the Food and Drug Administration (FDA), for evaluation and approval. For instance, in February 2022, Oakrum Pharma LLC, a US-based biopharmaceutical company, collaborated with ANI Pharmaceuticals to launch Betaine Anhydrous Powder, the first generic version of Cystadane. This collaborative effort resulted in a product available in a 180-gram bottle, granted Competitive Generic Therapy (CGT) with 180 days of exclusivity. This strategic partnership aligns with the companies' mission of providing high-quality prescription pharmaceutical products, positioning them as industry leaders in the betaine market.

In November 2022, Kensing LLC, a US-based specialty chemicals manufacturer, made a significant acquisition to expand its presence in the betaine market. The company acquired Hopewell, Virginia amphoteric surfactants, and specialty esters manufacturing operations from Evonik Corporation, a Germany-based specialty chemicals company, for an undisclosed amount. This strategic move enables Kensing to broaden its portfolio in personal care and home care ingredients, offering customers an expanded range of low-detergency product and service offerings. The acquisition aligns with Kensing's growth strategy, positioning it as a comprehensive provider of specialty chemicals in the betaine market. Evonik Corporation's subsidiary in the US played a key role in this strategic realignment.

Major companies operating in the betaine market report are Associated British Foods PLC, BASF SE, DuPont de Nemours Inc., Nutreco N.V., Solvay S.A., American Crystal Sugar Company, Amino GmbH, Kao Corporation, Stepan Company, Sunwin Biotech Shandong Co. Ltd., The Lubrizol Corporation, Merck KGaA, Inolex Inc., Navneet Chemical, Prasol Chemicals Pvt. Ltd., Alpspure Lifesciences Private Limited, Akshar Enterprises, Orison Chemicals Limited., Evonik Industries, Suki Skincare, Esprix Technologies, Trouw Nutrition, Dow, E. I. du Pont de Nemours and Company, AB Vista, HEALTHY (HANGZHOU) HUSBANDRY SCI-TECH, Tianshi Siliao, Agrana, Asahi Kasei, and Niacet Corporation

North America was the largest region in the betaine market in 2023. The regions covered in the betaine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the betaine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of betaine are synthetic betaine and natural betaine. Synthetic betaine is an organic osmolyte compound obtained from the amino acid glycine. Various forms of synthetic betaine include betaine anhydrous, betaine monohydrate, cocamidopropyl betaine, betaine hydrochloride, among others. These diverse forms find applications in the food and beverage industry, dietary supplements, animal feed, personal care products, detergents, and various other applications.

This report provides betaines market statistics, including betaines industry global market size, regional shares, competitors with betaines market share, detailed betaines market segments, market trends, and opportunities, and any further data you may need to thrive in the betaines industry. This betaines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The betaine market consists of sales of betaine citrate and betaine aspartate. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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