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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Betaines Market Outlook
Due to its biodegradable nature and great foaming abilities, there is a high demand for betaines in the HPC industry which is providing impetus to its production in North America, especially in the United States. As a result, North America betaines market is expected to reach a value of around USD 629.20 million by 2032 and the market is projected to expand at a CAGR of about 1.4% during 2024-2032.
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Although synthetic betaine holds the largest market share in the global market, natural betaine is anticipated to experience rapid growth on account of increasing awareness about the adverse effects of synthetic betaine. Depending on the specific grade required, MCA, DMAPA and fatty acids are the key raw materials employed in the production of betaine.
Properties and Applications
Betaine is naturally present in quinoa, beef, cereals, shrimp, sugar beet, broccoli, spinach, brown rice and sweet potato. The consumption of these products helps in reducing fat, enhancing muscle strength, improving metabolism and curing various heart diseases. Owing to these health benefits, betaine is used in the food industry to manufacture a variety of food products. Apart from this, it is also utilized as an additive in animal feed due to its high nutrition content. Moreover, it has high water retention capability due to which it is utilized in the production of cosmetics and toiletries.
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The product finds wide applications in the following industries:
- Animal Feed
- Food and Beverage
- Home and Personal Care
- Others
The regional markets in the North America betaines market can be divided into the United States of America and Canada.
Market Analysis
Multifarious applications of betaine in different industries have led to its increased demand in the United States and Canada. Rising intake of nutritive food products, dietary supplements and sports drinks among health enthusiasts across the region are expected to drive the market growth. Further, the rising demand for organic and premium cosmetic products at a range of price points in the United States are also contributing to the sales of betaines in the region.
Personal care represents the leading end-use segment and is anticipated to maintain its position in the coming years. Betaine is widely used in the production of cleansing lotions, creams, body washes, hand soaps, shampoos, and baby products.
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Price Analysis
A decline in crude oil rates has led to a fall in the prices of raw materials owing to which the prices of betaines decreased by about 5% in 2016. Nonetheless, changing demand scenario is expected to increase the prices of betaine by 2-3% in the forecasted period. Detailed market analysis including the regional price trends and market scenario of feedstocks such as MCA and DMAPA is offered in this report.
Competitive Landscape
Several companies are investing in R&D to improve their product portfolio and introducing bio-based home and personal care products. For instance, BASF collaborated with Solazyme and launched algae-based betaine for foam-based products like liquid soaps and shampoos.
The report gives a detailed analysis of the following key players in the North America betaines market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- E.I. Dupont De Nemours & Company
- Solvay North America, LLC
- Stepan Company
- Colonial Chemical, Inc.
- Lubrizol Advanced Materials, Inc.
- BASF Corporation
- American Crystal Sugar Company
- Inolex Chemical Company
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market growth is likely to grow at a CAGR of 1.4% during the forecast period of 2024-2032.
The market is estimated to reach a value of around USD 629.20 million by 2032.
The major drivers of the market include rising disposable incomes, increasing population, and the rising intake of nutritive food products, dietary supplements, and sports drinks.
The rising demand for organic and premium cosmetic products is expected to be a key trend guiding the growth of the market.
The United States of America and Canada are the leading regions in the market, with the United States accounting for the largest market share.
The major application sectors in the market include animal feed, food and beverage, pharmaceuticals, and personal care products.
The leading players in the market are E.I. Dupont De Nemours & Company, Solvay North America, LLC, Stepan Company, Colonial Chemical, Inc., Lubrizol Advanced Materials, Inc., BASF Corporation, American Crystal Sugar Company, and Inolex Chemical Company.
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