Tartaric Acid Market Synopsis:
As per the analysis by Market Research Future (MRFR), the global market for tartaric acid is anticipated to acquire a market value of USD 0.502 Billion while expanding at a CAGR of 5.91% by 2032.
The surging consumption of wine is expected to be a significant factor that can augment Tartaric Acid Market size during the forecast period. The growing tartaric acid consumption is anticipated to grow due to the expansion of the food and beverages sector, along with increasing demand for preservatives and additives, which can drive the industry. Furthermore, the rising popularity of packaged food, a higher standard of living, and the increasing application of the acid as an emulsifier in bread production can develop the market during the forecast period.
On the flip side, the imposition of stringent rules concerning synthetic tartaric acid usage by the various governments is anticipated to hinder the market growth. In addition, the outbreak of COVID-19 has slowed down the operations of several manufacturing companies. However, the rising application of the acid as a pH adjuster in the manufacture of personal care products such as; creams, soaps, and lotions can counter the impeding factor that can boost the market.
Market Segmentation:
The segmental analysis of the global market for tartaric acid is done by source, type, and application.
The source-based segments of the global market for tartaric acid are tamarind, grapes, and maleic anhydride, others.
The type-based segments of the global market for tartaric acid are natural and synthetic.
The application-based segments of the global market for tartaric acid are pharmaceuticals & nutraceuticals, food & beverages, cosmetics & personal care, and others. Food & beverages segment is sub-segmented into bakery & confectionery, beverages, sweet & savory snacks, sauces, soups, and dressings.
Regional Analysis:
As per the tartaric acid report prepared by MRFR, the global market is segregated into Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
APAC is projected to be the fastest-growing region while expanding at a significant CAGR during the forecast period. The expansion of food and beverages, home care, personal care, and the construction sector in the evolving economies, such as India and China, is predicted to be a salient factor that can augment the regional market. Furthermore, the increasing demand for processed food and changing lifestyle can drive the trade during the assessment period.
Europe is likely to procure a significant market during the forecast period owing to the increasing production of wine in Italy, Germany, Spain, and France. In addition, the increasing per capita income in East Europe is likely to steer the industry in the region during the review period.
North America is predicted to acquire a substantial market value during the forecast period owing to the growing consumption of wine. The expansion of the food and beverages industry and increasing pharmaceutical applications are other salient causes that can drive the regional market.
MEA is anticipated to grow during the review period due to the expansion of the food and beverage sector in the region. Furthermore, the increasing prevalence of pulmonary disorders is projected to enhance tartaric acid demand during the forecast period.
Key Players:
Some of the Key Tartaric Acid Market Players are ATP Group (U.S.), Caviro Group (Italy), Merck KGaA (Germany), Changmao Biochemical Engineering (China), Omkar Specialty Chemicals (India), Tarac Technologies (Australia), Distillerie Bonollo (Italy), PAHI, S.L. (Spain), The Chemical Company (U.S.), Henriette's Herbal (Finland), U.S. Chemicals LLC (U.S.), and Australian Tartaric Products (Australia)
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.
Contact Us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
