The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
Global Betaine Market: Introduction
Betaine is an organic nitrogenous compound having molecular formulae ((CH3)3N+CH2COO−), which naturally occurs in sugar beet juice & marine algae. Betaine can be manufactured synthetically by using chemical agents & intermediates. Alternative names of betaine are oxyneurine, glycine betaine, (carboxymethyl) trimethyl ammonium inner salt, 1-carboxy-N, N, N-trimethyl metha-ammonium inner disalt, etc.
Betaine exists in various forms such as cocamidopropyl betaine, betaine anhydrous, betaine monohydrate, etc. Key uses of Betaine include reagent in soldering, resin curing fluxes, and organic synthesis. Betaine also plays a crucial role in the animal as well as plants, it protects plant cells from the environment and decreases the production rate of amino acid in the human body. Furthermore, betaine find a wide range of applications in numerous end-use industry such as food & beverages, cosmetics, animal husbandry, and others.
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Global Betaine Market: Market Dynamics
Since from the past few years, increased population rate across the world expected to push the food consumption throughout the forecast period. For instance, the global food and beverages market is estimated to grow from ~US$ 13.9 trillion in 2016 to ~US$ 16 trillion by 2020, representing an annual growth rate of 3.6%. The demand from food & beverages industry as an additive/ ingredient will create a positive impact on the global betaine market in the near future.
Increased concern towards the health benefits among customers will create the demand for dietary supplements such as betaine. As, betaine helps to improve metabolism, muscle strength, power, and endurance. Due to its superior properties estimated to propel global betaine market growth over the forecast period. Furthermore, stringent regulations on the food industry stimulate the usage of betaine in food processing, in turn, consumption of Betaine will continue to grow. On the flip side, over-consumption of Betaine can create side effects on human health and preference of substitute ingredients which may hamper the global betaine market. Betaine growth is also expected to be aided from opportunities in cosmetics and personal care products industry where natural/ bio based Betaine ingredients are being preferred by the manufacturers.
In FY2015, DuPont signed an agreement with Tereos – a French-based firm and started a new natural betaine production plant in France to fulfill the demand generates from end-use industries. This kind of organic growth across the betaine market players will act as a key trend for the global market
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Global Betaine Market: Market Segmentation
Global betaine market can be segmented on the basis of product type, product form, applications, end-use industry, and regions. On the basis of product type, global betaine market can be segmented as mentioned below:
- Bio-based Betaine
- Synthetic Betaine
On the basis of product form, global betaine market can be segmented as mentioned below:
- Cocamidopropyl Betaine
- Betaine Anhydrous
- Betaine Monohydrate
On the basis of applications, global betaine market can be segmented as mentioned below:
- Resin Curing Fluxes
- Organic Synthesis
On the basis of end-use industry, global betaine market can be segmented as mentioned below:
- Food & Beverages
- Animal Husbandry
Global Betaine Market: Regional Outlook
Geographically, the global betaine market segmented into seven key regions – Latin America, Eastern Europe, Asia Pacific, North America, Japan, Western Europe, and the Middle East & Africa. Increasing population rate across the South East Asia Pacific region and raising industrial infrastructure will propel the growth of the global betaine market during the forecast period i.e. 2018-2028
Further, Europe betaine market expected to hold a significant position in the global market due to the presence of stringent regulatory bodies in the region such as Novel Foods Regulation and FEEDAP which stimulates the usage of betaine in the food & beverages industry. Furthermore, in the Middle East & Africa and Latin America regions food industry is rapidly growing from the past few years. For instance, in GCC, food consumption is estimated to grow at a CAGR 4.2% from 48.1 million in 2016 to 59.2 million in 2021. This will create a positive impact on the MEA betaine market during the forecast period
Global Betaine Market: Key Participants
Global betaine market expected to be fragmented owing to the presence of small and international players at a regional level. Some of the key players are identified across the value chain of global betaine market which is – Sigma-Aldrich, Inc., BASF SE, DowDuPont Inc., Solvay S.A., Nutreco, American Crystal Sugar, Kao Corporation, Amino GmBH, Stephan Company, Sunwin Chemicals, Associated British food Plc., and among others.
The global betaine research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. Global Betaine market also contains projections using a suitable set of assumptions and methodologies. The research report on global Betaine market provides analysis and information according to market segments such as geographies, application, and industry.
The Global Betaine market report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Global Betaine: Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The global Betaine market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the battery additives. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Betaine market attractiveness as per segments. The global Betaine market report also maps the qualitative impact of various market factors on market segments and geographies.
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