Global Tartaric Acid Market

Global Tartaric Acid Market was valued US$ 102.3 Mn. in 2020 and is expected to grow at CAGR of 5.77%, reaching US$ 295.6 Mn. during the forecast period 2020 to 2027. The market is growing due to rising awareness, industrial applications and increasing demand for wine production.

 

Global Tartaric Acid Market, By Region

Global Tartaric Acid Market, By Region

Market Definition:

Tartaric Acid is a white crystalline organic dicarboxylic acid, commonly known as cream of tartar, found naturally in plants particularly in tamarinds & grapes and in many fruits. It is used in all kinds of food except untreated foods and used as an antioxidant, develop naturally in the process of winemaking. It is also used as a food additive that functions as a leavening agent when combined with baking soda.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Market Dynamics

The market study offers a comprehensive analysis of the business models, key influencing factors, market strategies, statistical analysis, Trends and respective market shares of some of the most prominent players in this landscape.

The market is mainly driven by surging demand for tartaric acid and increasing adoption of microencapsulation in various industries such as pharmaceuticals, food industries. Increasing wine production is another factor propelling the growth of the market. Furthermore, growing technological innovations and increasing investment by government in R&D activities are expected to boost the growth of the global tartaric acid market. Tartaric acid consists of an anti-inflammatory and anti-oxidant property which helps to boost overall immunity of individuals. Asia-Pacific is expected to dominate the overall market with the highest CAGR of XX% during the forecast period.

However, stringent regulations by the government regarding the utilization of synthetic tartaric acid can hamper the growth of the global tartaric acid market. Moreover, its overconsumption can cause abdominal pain, vomiting, diarrhoea and could influence the development rate. Thus, hindering the growth of the global market.

Global Tartaric Acid Market Segmentation:

Based on Application, wine industry is estimated to have largest growth with revenue of 33% in 2019, growing at a CAGR of 4.2 % during the forecast 2020 to 2027. Growth is attributed due to increasing demand and growing consumption which significantly drive the growth of Tartaric acid. Growing production of wine in major countries such as France, Spain, Italy, U.S and China is estimated to drive the market over the forecast.

Food & beverages industry is also projected as emerging market with growing consumption from Asia Pacific, Africa is estimated to drive tartaric acid demand. Moreover, growing application as an expectorant and oral medication in pharmaceutical industry is expected to drive the growth of global market.

Based on Type, Natural tartaric acid market is estimated to dominate the global market, growing at a CAGR of 3% in the forecasted period. The demand is growing due to increasing consumption which significantly drive the production of wine and other beverages which in turn anticipated to drive the product demand during the forecast period.

Global Tartaric Acid Market, Regional analysis

Geographically, Europe has dominated the market with the major share of 40% in terms of revenue valued at US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of XX% and is expected to maintain its position during the forecast period. The growth is attributed due to wine production especially in France, Italy, Germany and Spain together with rising per capita consumption in European countries is expected to propel the demand of tartaric acid in the upcoming forecast.
Asia-Pacific has accounted fastest-growing region in terms of revenue thanks to growing consumption and increasing demand for processed food and beverage in developing countries in this region.

North America is rapidly growing at the fastest rate with a market share of XX % over the forecast period by 2027 mainly driven by Canada, U.S. and Brazil with the growing demand for generic medicine in the U.S by 40% and well-established infrastructure increasing population are propelling the growth.

Competitive Analysis:

Global Tartaric Acid Market is extremely uneven and the market vendors use various strategies such ascollaborations, expansions, acquisitions, and launch of new products, joint ventures, acquisitions, and others to upturn their ways in this market.

The objective of the report is to present a comprehensive analysis of the Tartaric Acid Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

Recent Developments, merges & Acquisitions

• In September 2019, Carivo – a leading manufacturer of tartaric acid was bestowed by “100% Green Certification” for Energy Resources by Consortium. The company uses renewable sources energy and promotes the companies culture economy. The strategic progressed to adopt cost-effective renewable energy that will drive up the boundaries for the alcohol product sales and tartaric acid.

• In November 2019, as per the research conducted by University of Adelaide, tartaric acid is importantly used in the production of all wines – red, white, and sparkling to counterbalance the sweetness of the fruit-based alcohol. Growing demand for tartaric acid in food and beverage application is estimated to propel the growth of tartaric acid globally.

• In December 2016, as per research paper proclaimed by royal society of chemistry, tartaric acid act as a chiral catalyst which is further utilized by pharmaceutical, biosensors, agricultural and food industries. This innovative development for tartaric acid operates as a major driver in the global tartaric acid market.

The report also helps in understanding Global Tartaric Acid Market dynamics, structure by analyzing the market segments and projects the Global Tartaric Acid Market size. Clear representation of competitive analysis of key players By Source, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Tartaric Acid Market make the report investor’s guide.

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Scope of the Tartaric Acid Market

Global Tartaric Acid Market, By Type

• Naturals Tartaric Acid
• Synthetic Tartaric Acid
Global Tartaric Acid Market, By Source

• Grapes & sun-dried raisins
• Maleic anhydride
• Others, including apricots, tamarind, bananas, and apples
Global Tartaric Acid Market, By Applications

• Wine
• Food & beverages
• Pharmaceuticals
• Cosmetics & personal care products
• Others, including industrial use and animal feed
Global Tartaric Acid Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
Global Tartaric Acid Market, By key Players

• Sagar Chemicals
• RANDI GROUP
• Caviro Distillerie
• Australian Tartaric Products
• Tarac Technologies
• Tartaric Chemicals
• Distillerie Mazzari
• Distillerie Bonollo
• Pahi
• Vinicas
• Tártaros Gonzalo Castelló
• Omkar Specialty Chemicals
• Yantai Taroke Bio-Engineering
• Ninghai Organic Chemical Factory
• Changmao Biochemical Engineering
• Hangzhou Bioking Biochemical Engineering
• Hangzhou Regin Bio-tech

 

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