The new report by Expert Market Research titled, ‘Latin America Betaines Market Size, Share, Price, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the Latin America betaines market, assessing the market based on its segments like applications and major countries.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical CAGR (2016-2020): 4.7% (Global Betaines Market)
- Forecast Market Size (2026): 167 kilo metric tons (Latin America Betaines Market)
Since betaines aid in muscle development, they are widely used in dietary supplements, thus, fuelling the market growth. As a result, the Latin America betaines demand is expected to exceed 167 kilo metric tonnes by 2026. In the global market, there are two kinds of betaines: synthetic and normal. Synthetic betaines currently account for the bulk of the overall share, followed by natural betaines.
Natural betaines, on the other hand, are gaining prominence as people become more mindful of the dangers of synthetic betaines. Furthermore, natural betaines are more powerful in stressful situations, such as gut health and heat. DMAPA, MCA, and fatty acids are the primary raw materials used in the production of betaine, depending on the grade needed.
Industry Definition and Major Segments
Betaines occur naturally in broccoli, sugar beet, beef, quinoa, sweet potato, and brown rice. It is used in the improvement of metabolism, the reduction of weight, the enhancement of general physical performance, and the treatment of various heart diseases. As a result, betaine is used in functional beverages as well as other food items.
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By application, the market can be segmented into:
- Food and Beverage
- Animal Feed
- Home and Personal Care
- Others
The regional markets of betaines in Latin America include:
- Brazil
- Argentina
- Mexico
- Colombia
Market Trends
The growing demand for biodegradable and natural beauty and personal care goods is driving the Latin America betaines market. Aside from that, betaines are in high demand in Brazil, Argentina, and Mexico due to the growing demand from the cosmetic and pharmaceutical industries.
Furthermore, betaines are used as ingredients in animal feed to aid in brain growth and the functionality of the animal nervous system, thus, the rising animal feed industry in the region will further contribute to the growth of the betaines market in Latin America. Betaines’ expanding applications in a variety of industries are driving the demand growth in the Latin America market.
Key Market Players
BASF SE, DuPont, Evonik Industries AG, Kao Corporation, Oxiteno S.A., and Inolex Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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