ID: MRFR/F-B & N/1968-CR | May 2019 | Region: Global | 110 pages
Globally, it has been marked that the betadine market occupies a VAGR value of 4.84% during the market forecast period. It reaches a USD of about 4479.0 million by the end of 2024. The Betadine market is also referred to as the glycine market. Betadine being a trans glycine or anhydrous compound is either synthesized naturally or artificially. Betadine is referred to as a by-product of industries that is produced from the refineries which manufacture sugar from the beetroot.
Betadine is synthesized from other such sources as wheat bran, quinoa, spinach, grain, rye grain, sweet potato, bulgur grain, best beef, and the turkey breast. Betadine is used in some other applications like food and beverages, cosmetics, nutraceuticals, pharmaceuticals, and animal feed. It has been marked that betaine is naturally found in vegetables, spinach, and beetroots. It is highly rich in protein and calcium. With the initiatives so taken by R and D, the market is highly dependent on food and feed products. Growth in opportunities in the region of India, China, and the Brazilian region pushes up the growth of the betadine market.
Covid 19 Impact
The outbreak of the COVID brought problems in some of the manufacturing units. This was because of the government-imposed lockdown and shutdown events on the nationwide people. The demand for the product has decreased due to the outbreak of the COVID. Shortage of the labor forces was marked. Investors are investing some money and are adopting certain preventive steps to avoid the loss taking place during the market forecast period. It was being expected that the betadine market would occupy certain momentum and rise the betadine market share. Supply chain disruptions have been interrupted and more work stoppages and labor shortages were observed.
betadine having certain health benefits is being used at a rapid rate. Their supplements are being used in various processes which helps in boosting up the betaine market growth. The rise in growth and awareness about health and its benefits and giving much more care to cosmetic products steer up the betaine market size.
The growth in demand of certain raw materials so used beings more opportunities for the betadine market growth. During the assessment period, it has also been marked that the use of betadine in the pharma industry is being significantly used which has had a great impact on the expansion in the size of betadine market growth on a global scale.
Betaine if in case causes certain irritation and some other problems related to skin and eye affects the expansion of betaine market size. The period of COVID became a very challenging factor for the development of the growth of the market. It led to a labor shortage which led to the shortening of the manufacturing unit of the market.
Consuming betadine at a high rate acts as a restraining factor for the growth of the betadine industries. Consuming betadine supplements at a high rate deteriorates the betadine market share.
Globally, it has been marked that the market is being classified into type, category, and application segments. As per the category, the betadine market is being divided into natural as well as synthetic markets during the market forecast period. The natural segment covers a CAGR value of 5.05% during the betadine market forecast period. The natural betadine is being used on a wide scale where it helps in keeping a balance of water in between the environment. It also gives full protection to the cells from osmotic pressure. Due to all of these factors, it has been found in manufacturing certain products in various end-user industries. As per the type, the betadine industry is being classified into Cocamidopropyl betaine, an anhydrous form of betadine, and many more. It has been found that the anhydrous betadine segment covers a high CAGR value and a USD of 1359.5 million by the end of the betadine market forecast period. Moreover, on a global scale, the market has been classified into food along with beverages, personal care products like cosmetics, animal feed, and many more. Moreover, the personal care division is occupying a dominant place in the whole betadine market. It occupies a certain CAGR value with a betadine market value of about USD 1562.3 million during the market forecast by the end of 2024.
Due to the growth in technology the betaine has been used for several purposes like it is widely used in the food industry where it is responsible for enhancing dietary functions and is used for manufacturing Nutra chemicals which help in preventing heart and liver diseases. It has also been used as an anti-stressing agent. Moreover, betaine is used for improving the performance of athletes.
Geographically and regionally, the betadine industry is being classified into some of the North American region, European region, some of the Asia Pacific region, and some regions present in the rest of the world. North American region is one the most dominating market which leads in betadine manufacturing. It is found that the market covers a CAGR value of about 32.63% during the market forecast period and stretches till the end of the forecast period. Regionally, the market shows exponential growth from 2019 through 2024. The high demand for applications here increases the demand for betadine. Moreover, its widespread applications in various sectors raise the demand for cosmetics and animal feed products. It has also been found that the Asia Pacific region covers a share of 29.20% during the forecast period starting from 2018.
The growth in the use of animal feed, the demand for personal care products, and the rise in the growth of pharma end-users industries drive up the betadine market size. Moreover, China, India, and Japan are the key regions where you will find the country-level market spread throughout the Asia Pacific region. During the assessment period, it has been found that the European region covers the major share. Moreover, the regional market covers a low betadine market share of about 24.38% in 2018. The rise in growth for the use of precision nutrition for livestock purposes has covered a huge betadine market region. Some of the key countries in the region include the areas of the United Kingdom, some areas of Germany and Spain. Moreover, scaling properties of health along with the betadine supplements are found in a limited area.
Some of the key players operating on a global scale are DowDuPont of the United States, INOLEX INC. of the United States, AMINO GmbH of Germany, the Lubrizol Corporation of the United States, BASF SE of Germany, Nutreco NV of the United States, Kal Corporation of Japan, Associated British plc Inc food if the United Kingdom, Steapsn Corporation of Germany and SOLVAY of Belgium and many more. Moreover, these key players carry out certain strategies like launching a new product, following the technology in an innovative way, acquisitions, and launching new methods for expanding the business.
The report signifies the change in betadine market size which takes place at a transformed value and volume. It summarizes the top-down and bottom-up approaches taking place in the market. The report also signifies the extensive research taking place. It tells about betadine market insights and the new market trends which further gets validated through the primary interview. The report makes s good analysis about the qualitative and quantitative research and the developing strategies along with the developmental strategies so taking place by the competitors. It symbolizes the huge market share so occupied by the market players. It gives information regarding the raw materials suppliers and the distributors. It gives good feeds about the end-users and the industrial association taking place. It gives a good analysis of the organization related to biotechnology.
Frequently Asked Questions (FAQ) :
Dietary supplement section would grow faster in the betaine market.
Betaine anhydrous would take the lead in the European betaine market.
North America would dominate the global betaine market.
The players mentioned in the betaine market report are DuPont (U.S.), Associated British Foods PLC (U.K.), E. I. du Pont de Nemours and Company (U.S.), BASF SE (Germany), Nutreco N.V. (Netherlands), Amino GMBH (Germany), and Kao Corporation (Japan).
The betaine market report has forms like cocamidopropyl betaine, betaine monohydrate, and betaine anhydrous.