Posted on 28 Jan 2019
According to a new report by EMR titled, ‘Global Betaine Market Report and Forecast 2019-2024’, the global betaine market reached a volume of around 860 kilo metric tons in 2017. The market is further expected to grow at a CAGR of about 4.2% between 2019 and 2024.
North America represented the largest market for betaines in the past. The growth of this market was driven by an increased demand in the home and personal care, and pharmaceutical industries, specifically in the US. The North American market is expected to grow at a CAGR of only 1.5% between 2019-2024, which is low as compared to China’s projected CAGR of 6% in the same period. Asia Pacific is projected to overtake North America as the major market for betaines as it is expected to see a steady growth in the coming years. The growing demand for betaines in the region, especially in China, is a result of growing population and urbanization.
Betaine finds its major application in the personal care industry where it is popular as an alternative to sulphur-based surfactants and accounts for over 50% of the global betaine application. Due to its water retention and moisturizing properties, betaine finds extensive usage in the cosmetics industry. It is widely used as a surfactant, emollient and emulsifier in personal care products such as shampoos, lotion, etc. It is also used a detergent. The focus of the cosmetics market has been shifting towards the introduction of new products containing safe and sulphur-free natural ingredients. This development has been favourable to the betaines market as betaine is a mild surfactant which causes minimal eye and skin irritation.
Key players in the global betaine industry are looking to expand and improve their betaines products portfolio by researching and investing in bio-based personal and home care products. Evonik, one of the major players in the betaine market, have introduced a cost-effective, concentrated cocamidopropyl betaine (CAPB), which is a major ingredient in various personal care products such as shower gels, shaving gels and baby shampoo, among others.
Market Analysis by Type, Applications and Regions:
Key Findings of the Report:
To view the report summary and Table of Contents, click on: https://www.expertmarketresearch.com/reports/betaine-market-report
Key Offerings of the Report:
Inolex Inc., Kao Corporation, Evonik Industries AG, Solvay S.A., Clariant Corporation, Lubrizol Corporation, Stepan Company, and Colonial Chemical Inc. are the major players in the global betaine market analysed in the report. The EMR report explores the latest developments among the key players in betaine market including plant turnovers, capacity expansions and merger and acquisitions.
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Global Betaine Market attained a volume of about 860 Kilo metric tons backed by a strong demand in 2017.
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