Global Betaines Market Size, Study, By Product, Application, And Forecasts 2023-2028Posted by Karthik Pilla on January 21st, 2023 Bharat Book Bureau Provides the Trending Market Research Report on “Global Betaines Market Report and Forecast 2023-2028” under the Chemical & Materials Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
Global Betaines Market Report and Forecast 2023-2028 Market Outlook
The global Betaines Market attained a volume of around 995.1 KMT in 2022. Aided by the rising demand for betaines from sectors such as cosmetics, home and personal care, and food and beverage, the market is projected to further grow at a CAGR of 4.4% between 2023 and 2028, to reach a volume of 1276.2 KMT by 2028. Betaines, also known as non-protein amino acids, are a type of alkaloids which are found in sugar beets. Betaine has a sweet taste used in various industrial and commercial sectors. It also contains medicinal properties which are associated with blood purification and enhanced blood circulation. In addition, betaine improves muscle building, increases metabolism, and pushes endurance of the human body. Hence, the increasing inclination towards consuming healthy food is driving the global betaines market. Betaine possesses anti-ageing, anti-wrinkle, and moisturising properties which improve skin texture due to which betaines are witnessing a significant demand in the cosmetics sector. Over the forecast period, the anticipated increase in sale of high-grade anti-ageing beauty products is expected to provide impetus to the betaines market. Also, betaine is a successful surfactant which improves foam performance, as well as kills harmful contaminants and bacteria. As a result, increasing hygiene awareness among consumers are propelling the demand for betaine. Accordingly, the anticipated increase in the sale of dish liquids and hard surface cleaners across institutions, schools, colleges, hospitals, and clinics, among others, is expected to aid the market for betaines in the coming years. At a regional level, North America has been a significant market for betaines, due to its evolving food sector, and increased awareness about health benefits of betaines. In the coming years, the market in Asia Pacific is expected to witness substantial growth, fuelled by growing demand for betaine-containing food products and skin care products. Furthermore, the thriving e-commerce sector is another crucial trend in the market which is expected to fuel the sale of downstream betaine products. The market for betaines is also expected to be supported by the increasing purchasing power of consumers across emerging economies. Market Segmentation Competitive Landscape
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