Global Food Betaine Market - Growth, Trends and Forecasts (2018 - 2023)
The global food betaine market is expected to register a CAGR of 5.9% during the forecast period, (2018-2023). Betaine has shown potential benefits for fighting heart disease, improving blood composition and helping promote muscle gain and fat loss. It can be prepared synthetically or from sugar beet molasses and is extensively used in food and personal care products.
The rise in awareness about the nutritional value of betaine when used in dietary supplements. The increasing popularity of energy and sports drinks, in which betaine is used has further extended the scope for the betaine market. Growing potential for betaine in the food and feed industry, the rising demand for natural betaine in various food products like cereals and confectioneries, growing popularity among consumers regarding its numerous nutritional benefits and multi-functional usages in food and personal care are driving the market. Excessive usage leading to allergies, various side effects to human health and increasing raw material prices are hindering market growth.
On the basis of type, synthetic betaine is the largest segment but natural betaine is expected to be the fastest growing over the forecasted period due to increasing health consciousness among consumers and awareness on the adverse effects of synthetic betaine. On the basis of form, betaine hydrochloride is expected to be the fastest growing due to its organic nature and numerous health benefits. On the basis of applications, it is segmented into beverages, confectionery, cereal products, dairy, nutritional supplements etc. Major applications can be seen in nutritional supplements due to its health benefits and anti-stressing agent, which are found to improve athletic performance. Natural Betaine is recommended for use in Rinse off and Skin Care products.
North America is the major market for betaine due to rising demand of health drinks. Europe comes second with various food regulatory bodies accepting its consumption. However, Asia-Pacific is expected to be the fastest growing market owing to rising demand for sports drinks and dietary supplements, followed by North America.Major PLAYERS: BASF SE, E. I. DU PONT DE NEMOURS, ASSOCIATED BRITISH FOOD PLC., SOLVAY S.A, NUTRECO N.V., AMERICAN CRYSTAL SUGAR COMPANY, KAO CORPORATION, AMINO GMBH, SUNWIN CHEMICALS, WEIFANG SUNWIN CHEMICALS CO. LTD. and STEPAN COMPANY, amongst others.
July 2015: BASF and Solazyme launch the first commercial microalgae-derived betaine surfactant, Dehyton® AO 45. New product developments and increased R&D activities by the key players enable them to hold a prominent share in the global market.
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