The Betaine Global Market Report 2023, provides comprehensive information on the betaine market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Betaine Global Market Report 2023, the market size is expected to grow from $3.69 billion in 2022 to $3.91 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global betaine market size is expected to grow to $4.84 billion in 2027 at a CAGR of 5.5%.
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Technological advancements are a key trend in gaining popularity in the betaine market. Major companies operating in the betaine market are focused on developing innovative and technologically advanced solutions using artificial intelligence to strengthen their position in the market. For instance, in February 2021, Libra Speciality Chemicals Ltd., a UK-based chemical manufacturer, installed modern technology to produce innovative low-salt betaines, while advancing the existing plant’s capacity from 32,000 to 50,000 tons per year. The company developed and installed a flagship, high-tech, multistage membrane system to manufacture low-salt betaine surfactants, that is fully driven by an artificial intelligence (AI) operating system and only requires one operator to fully function. According to Libra, its technology can create betaines with 0.5% or even 0.05% salt, allowing formulators to include them at 10-12% and thus, design a larger range of finished goods.
The betaine market is segmented:
1) By Type: Synthetic Betaine, Natural Betaine
2) By Form: Betaine Anhydrous, Betaine Monohydrate, Cocamidopropyl Betaine, Betaine Hydrochloride, Other Forms
3) By Application: Food and Beverages, and Dietary Supplements, Animal Feed, Personal Care, Detergent, Other Applications
North America was the largest region in the betaine market in 2022.
The table of contents in TBRC’s betaine market report includes:
- Executive Summary
- Betaine Market Characteristics
- Betaine Market Trends And Strategies
- Betaine Market – Macro Economic Scenario
- Betaine Market Size And Growth
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- Betaine Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Betaine Market
- Betaine Market Future Outlook and Potential Analysis
- Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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