Posted on 02 Apr 2019
According to a new report by EMR titled ‘Asia Pacific Betaines Market Report and Forecast 2019-2024', the Asia Pacific betaines market grew at a CAGR of nearly 5% in the period between 2014 and 2018. The market is projected to continue growing in the forecast period of 2019-2024, reaching a volume of over 400 KMT by 2024.
The Asia Pacific is rapidly emerging as one of the leading markets for betaines due to the easy availability of raw materials in the region. Betaines are commonly found in food products like broccoli, sugar beet, shrimp, quinoa, brown rice, spinach, sweet potato, beef, and cereals. The Asia Pacific betaines market is also being driven by the rising consumption of health drinks, and dietary supplements to which betaines are added. Their numerous health benefits range from treating cardiovascular diseases to improving metabolism to increase muscle strength. Thus, betaines are added to products like functional beverages to add to their nutritional value.
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Betaines also find extensive application as surfactants in the region, especially in the personal care sector. They are used to manufacture body washes, hand soaps, creams, shampoos, cleansing lotions, and baby products. Their popularity in the sector is due to their various favourable properties like foam booster, high-water retention, and viscosity modifier. The betaines market in this sector is also being aided by a shift among the consumers towards ‘green' products. Globally, the cosmetics industry is witnessing a rapid growth of natural and organic products. Being biodegradable, betaines are often a part of these eco-friendly cosmetics products. Asia is an emerging market for such sustainable products with greater awareness among the consumers about the environmentally detrimental effects of certain personal care products.
China and India are the two major markets in the Asia Pacific region. In India, betaines are being increasingly being used in animal feed due to the various government schemes focussed on spreading awareness about animal health and the benefits of providing the animal with a nutritional and balanced diet. The government seeks to promote better feed practices among the farmers through such initiatives. This is aiding the growth of the betaines market in India as betaines when added to feed, boost animal health by improving metabolism and preventing osmotic stress during coccidiosis. In China, the prices of betaine saw a significant increase of 20% between 2015-2017 due to the strict environmental policies of the Chinese government, which led to a tight supply of raw materials in the first half of 2017.
To view the report summary and Table of Contents, click on - https://www.expertmarketresearch.com/reports/asia-pacific-betaines-market
Market Analysis by Types, Grades, Applications, and Regions:
Key Findings of the Report:
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BASF China Co. Ltd., Kao Chemical Corp Shanghai, Evonik speciality Chemicals Shanghai Co Ltd., Shanghai Kang Xin Chemical Co., Ltd., Weifang Sunwin Chemicals, Miwon EOD Co., Ltd., Chemrez technologies, Inc., and Galaxy surfactants Limited are the key players operating in the Asia Pacific betaines market analysed by EMR. The EMR report gives an in-depth insight into the competitive landscape of the Asia Pacific betaines market including the latest developments among the major players like their plant turnarounds, capacity expansions, market share, and mergers and expansions.
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