Market Scope
As per the report published by Market Research Future (MRFR), it forecasts that the betaine market analysis, due to its numerous health benefits, is projected to register a lucrative CAGR over the review period (2020-2030). The market is also expected to attain a substantial valuation by the end of the forecast period.
Market Determinants and Pitfalls
The chemistry of betaine is such that it holds several health benefits. Hence, its supplement is gaining momentum among people. This is observed as a major factor that can propel the betaine market. The increase in cases of patients suffering from gastric intestinal (GI) disorders, especially improper digestion, can spur the betaine market growth. The lack of intake of proper diet and hectic schedule of working professionals seems to favour the betaine market growth. Another serious issue for which betaine supplements are gaining popularity is due to its ability to boost metabolism, support liver function, improve muscle mass, and aid in detoxification of the body. Hence, the rising number of obese adults, to whom betaine is an excellent medical solution, can contribute to the global betaine market expansion. Betaine reduces the homocysteine amino acid that protects the heart. Due to this, a surge in the adoption of betaine is observed among the rising number of patients down with cardiovascular malaises. Thereby, again acting as a market booster that can impel the betaine market growth. Furthermore, surge in the growth of the betaine market can also be noted due to the invasion of e-commerce, backed by digitalization, is also expected to surge the market.
However, issues regarding accurate dose and its serious adverse effects of betaine in pregnant and breast-feeding women can slow down the market. However, entrepreneurs presume these as an opportunity for investing in research and developmental activities to launch effective products and gain revenue for the market.
Segmental Overview
The global betaine market has been segmented on the basis of type, form, and application.
Based on the type, the betaine market has been segmented into natural betaine and synthetic betaine.
Based on the form, the betaine market has been segmented into Betaine Anhydrous, Betaine Monohydrate, Cocamidopropyl Betaine, and others. The wide acceptance of anhydrous betaine denotes that the betaine anhydrous segment can register a substantial CAGR over the review period.
Based on the application, the global betaine market has been segmented into pharmaceutical, dietary supplements, cosmetics, animal feed, and others. The dietary supplements segment is likely to exhibit the highest growth due to the increase in the adoption of betaine supplements.
Regional Outlook
Based on the region, the global betaine market has been studied across Asia Pacific, North America, Europe, and the Rest of the world (ROW).
North America region, followed by Europe is likely to hold the largest share of the global betaine market. The elevated governmental and regulatory body support for the launch of new supplements and research and developmental activities can escalate the regional market growth. The surge in the use of betaine in animal feed can drive up the market growth in the North American region. Europe is expected to witness considerable growth of the betaine market, as the regional pharmaceuticals are making brilliant efforts in research and development activities to launch more useful products.
The rising awareness about health benefits of betaine and hike in the sales number are anticipated to play a significant role to shoot up the betaine market growth curve in the Asia Pacific region. The emerging economies like China, India, and Japan are expected to invest in research and developmental activities. This, can push the regional market growth.
Key players
Vivid Vision, Inc., Cooper Vision, Amblyotech, Inc, Good-Lite Co, Johnson Johnson, Novartis AG., Carl Zeiss AG, HOYA Corporation, Hilco Vision, McKesson Corporation, Fresnel Prism and Lens Co., Krafty Eye Patches, and Amblyoptica (Holding) Pty Ltd.
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