The new report by Expert Market Research titled, ‘Asia Pacific Betaines Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Asia Pacific betaines market size, assessing the market based on its segments like application, and regional markets among others.
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)
• Forecast CAGR (2023-2028): 1.2%
One of the primary reasons for its increased production in the Asia Pacific area is the increased use of betaines as surfactants. Furthermore, the region’s abundant raw materials give firms the potential for diversification. In the first part of 2017, the Chinese government imposed strict rules to reduce the supply of raw materials (MCA and DMAPA) due to poor environmental circumstances. As a result, betaine costs climbed by 20% between 2016 and 2017.
Industry Definition and Major Segments
Many food commodities such as sugar beet, quinoa, shrimp, broccoli, steak, spinach, brown rice, sweet potato, and cereals contain betaine. These meals aid in the treatment of cardiovascular disease, the enhancement of muscular strength, the improvement of metabolism, and the reduction of fat. As a result, it’s employed in the food business and in the manufacturing of functional beverages to boost their nutritional content. Low irritative impact, skin compatibility, and strong foaming capability of betaines have been important reasons in its wide range of usage in a variety of sectors.
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Based on Application, the Asia Pacific betaines market is segmented into:
• Food and Beverages
• Home and Personal Care
• Animal feed
• Others
The major regional markets of the Asia Pacific betaines market are:
• China
• India
• South East Asia
Market Trends
The industry is growing due to rapid urbanisation and increasing population counts in the Asia-Pacific region. Aside from that, betaine is employed as an animal feed ingredient in a number of countries in the region due to its high nutritional value. The demand for animal feed is expected to rise in the forecast period as a result of the Indian government’s many attempts to raise awareness among farmers about animal health and improved feeding practises.
The expansion of the betaine market in Asia Pacific has been propelled by an increase in demand for dietary supplements and healthy beverages among health enthusiasts. Moreover, a number of companies are launching new personal care products that contain natural and biodegradable chemicals. The sale of betaines is consistently growing in the region as demand for these items rises due to increased consumer awareness.
Key Market Players
The major players in the market are BASF SE, Kao Corporation, Evonik Industries AG, Shanghai Kang Xin Chemical Co., Ltd., Miwon EOD Co., Ltd., Chemrez Technologies, Inc., Galaxy Surfactants Limited, 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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