Latin America Betaines Market Key Insights:
- Types: Natural and Synthetic
- LATAM Betaines Market Overview
- Market Performance & Price Trends 2018
- Market Analysis & Outlook 2019-2024
- Project Details & Costs Involved
The global betaines market grew at a CAGR of nearly 4% during 2014-2018. The growing number of health-conscious consumers is subsequently increasing the demand for nutritive drinks and dietary supplements in the Latin American countries like Brazil, Argentina and Mexico. As betaines help in improving muscle growth, it is extensively used in these products which is boosting the market growth. Due to this, the betaines market in Latin America is anticipated to reach more than 100 KMT by 2024.
Betaine: Properties and Applications
Betaine is naturally present in broccoli, sugar beet, beef, quinoa, sweet potato and brown rice. These products help in improving metabolism, reducing fat, enhancing overall physical performance and curing different heart diseases. As a result, betaine is utilized in functional drinks and also in other food products.
Betaine finds applications in the health and personal care sector as a foam booster, viscosity modifier and co-surfactant. It is used in the production of creams, cleansing lotions, shampoos, hand soaps, body washes and baby items. Apart from this, due to its high-water retention ability, good foaming capability, skin compatibility and low irritating effect, betaine is employed in the cosmetic industry for manufacturing cosmetic products.
There are two types of betaines available in the market – synthetic and natural. Currently, synthetic betaine accounts for the majority of the total share, followed by natural betaine. However, natural betaine is gaining popularity due to rising health awareness about the adverse effects of synthetic betaine. Moreover, natural betaine is more effective under stress conditions like gut health and heat. Depending on the specific grade required, DMAPA, MCA and fatty acids are the major raw materials used for manufacturing betaine.
Applications of betaines include:
- Food and Beverage
- Animal Feed
The Latin America betaines market is being spurred by the rising demand for biodegradable and natural beauty and personal care products. Apart from this, there is a high demand for betaine in Brazil, Argentina and Mexico due to increasing applications in the cosmetic and pharmaceutical industries. Moreover, betaine is also used as an additive in animal feed which assists in brain development and supports the functionality of the nervous system of animals. Expanding applications of betaines in diverse industries are propelling its demand in Latin America.
Similar to Europe, the prices of fatty acid betaine fell by 3% In 2015 owing to the decreasing crude oil prices. However, due to a tight supply of raw materials, the prices increased by about 7% in 2017. Following the scenario, average betaine prices are expected to increase in the upcoming years. Detailed market analysis including the country-wise price trends and market scenario of feedstocks such as MCA and DMAPA is provided in this report.
The report presents a detailed analysis of the following key players covering their capacities, market share and latest turn of events such as mergers and acquisitions, capacity expansions and plant turnarounds in the Latin America betaines market:
- BASF SA.
- DuPont Nutrition Bioscience Aps
- Evonik Degussa Argentina S.A.
- Quimi-Kao, S.A. de C.V.
- Oxiteno S.A.
- Chemical Ingredients & Solutions
- Flamaquimica S.R.L.
EMR’s comprehensive report on the Latin America Betaines Market provides additional insights on porter’s five forces analysis, value chain analysis and SWOT analysis. It also offers price analysis of betaines in Mexico, Brazil, Argentina and Colombia.