[FURL=https://www.industryarc.com/Report/15179/betaine-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Betaine market[/FURL] size is forecast to reach US$875 Million by 2026, after growing at a CAGR of 5.75% during 2021-2026. Betaine signifies to an organic nitrogenous compound that is used up for blocking the build-up of amino acid in blood vessels. It is naturally found in microorganisms, plants and animals, including seafood, wheat, spinach and sugar beets, and can be chemically synthesized using chemical agents and intermediates. Trimethylglycine (TMG) is an amino acid derivative that occurs in plants. It was the first betaine discovered, originally it was simply called betaine. It is used to treat homocystinuria and can be used as a stomach acidifier.Key Takeaways
North America dominates the Betaine Market owing to rapid increase Cosmetics and Personal Care sectors.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in Betaine Market and their specific segmented revenue.
Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of Betaine related industries has been negatively affected, thus hampering the growth of the market.
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Betaine Market Segment Analysis - By Geography
North America region held the largest share in the Betaine Market in 2020 up to 31% followed by Asia Pacific and Europe. North America dominated the market across the world, owing to high demand from industrial, personal care products, and food, beverage, and dietary supplements in the region. With the number of industrial developments such as California High Speed Rail Construction Project worth US$ 77 billion, Hudson Yards, New York worth US$ 20 billion, and others. On the other hand, top cosmetics and personal care companies are based in US, for like, Estée Lauder which recently in 2021 has invested in Deciem Beauty Group approximately $1 billion to take a 76% majority stake in the cult skincare brand and establish terms for full ownership. And then in 2018, L’Oréal, a global brand reports skincare to be 40% of the beauty market, but makes up nearly 60% of worldwide cosmetics market growth.
Betaine Market Drivers
High Demand for Glycine Betaine in Agriculture
Betaine Market Landscape
Major players in the Betaine Market are BASF SE, Amino GmbH, Solvay, DuPont, Lubrizol, American Crystal Sugar Company, Associated British Foods Plc, Nutreco N.V., KAO Corp., Stepan Company, and Sunwin Chemicals.
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