Global COVID-19 Pandemic Impact on Betaine Market 2020, according to MRFR, is expected to grow over the review period at a substantial CAGR acquiring a significant market value.
Growth Inducers and Restraining Factors
Awareness-raising of nutritional foods is pushing the demand worldwide. The betaine market is powered primarily by growing knowledge among customers regarding betaine’s nutritional value and rising betaine use in different pharmaceutical products and animal feeds. Rising demand for dietary supplements and sport nutrition in developing countries anticipates the rise of the betaine industry. — usage of betaine in cosmetics, personal care goods, and detergents also reflects the increasing demand from different sectors for betaine. In the forecast era, the usage of betaine as an anti-stress agent for animals would possibly create opportunities for the studied sector. In recent times, the global beauty industry has concentrated on creativity and new product creation with healthy and sulfur-free natural ingredients. It is expected to have a positive effect on betaine demand because it is known to be a mild surfactant that carries a low risk of skin and eye irritation. On the other hand, toxic products that contribute to skin and hair issues act as one of the constraints for the market studied.
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The major players profiled in the COVID-19 Pandemic Impact on Betaine Market are DuPont (U.S.), Associated British Foods PLC (U.K.), Amino GMBH (Germany), BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Nutreco N.V. (Netherlands), and Kao Corporation (Japan)
August 2020 – The European Commission (EC) accepted the proposal by DuPont Nutrition Biosciences to label betaine as a novel product, while the bio-based company obtained official approval of its dietary component for sugar beet products.
Betaine market was segmented by type, into natural betaine and synthetic betaine
Global COVID-19 Pandemic Impact on Betaine Market was segmented according to the form, into betaine anhydrous, COCAMIDOPROPYL betaine, betaine monohydrate
The betaine market was divided by application, into dietary supplements, animal feed, cosmetics, pharmaceuticals, and others
Global COVID-19 Pandemic Impact on Betaine Market is analyzed in North America, Europe, Asia Pacific, and rest of the world (ROW).
The big market share led by Europe is among the North America area. Regulatory support and expanded use of betaine in various animal feed products is driving demand growth in the North American region. The US represents the region’s biggest economy, owing to rising competition from the pharmaceutical and personal care industries. The nation is the world’s leading manufacturer of both pharmaceutical and personal care goods. The nation has invested heavily in research and development to innovate new products for personal care with the aid of sulfur-free raw materials and generic medicines is also expected to provide new opportunities for the betaine market over the coming years. Moreover, the country’s heavy reliance on unhealthy and ready-to-eat food items has also contributed to increased problems of obesity in the populace.
Therefore, with the growing understanding of health and wellbeing in the population, demand for dietary supplements has dramatically increased. Hence, the production of dietary supplements has also risen to meet the demand, which further adds to the market for betaine in the region.
Growing awareness of betaine’s health benefits plays a crucial role in driving market growth in the Asia Pacific region. Demand for personal care items in the areas has increased significantly, like Asia-Pacific and the Middle East, with cultural change, the influence of western culture, increased cosmetic demand from the youth population, and rising women employment.
Europe sees substantial growth in the pharmaceutical segment of the betaine industry due to an increase in research and development activities in that field.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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