Tartaric Acid Market Several Factors Have Contributed To The High CAGR Of Tartaric Acid. Such As High Demand In The Food Beverage Industry And Changing Lifestyles Of Society Which Has Lead To The Evolving Preferences Of Consumption. More Demand For Wine Products And Increased Demand For Packaged Food Have Also Contributed To The CAGR For The Forecast Period.
According to the current analysis of Reports and Data, the Tartaric acid market globally was valued at USD 254.8 Million in 2020 and is expected to reach USD 387.7 Million by the year 2028, at a CAGR of 5.30%. The reason for the growth of the market for tartaric acid is the different uses of it as a component used for producing or manufacturing. This acid is found in most plants. It is used as raw material for the synthesis of as many chemical laboratories. The baking soda, i.e., sodium bicarbonate is another application for tartaric acid, which is used in many applications. The cosmetics and personal care products also find applications of this acid. The Pharmaceutical industry finds the application of tartaric acid to improve the taste of the medicines. The tartaric acid is also used as in cough syrups.
The tartaric acid finds most of the applications in the field of food beverages and as a food additive. The food beverage industry is growing continuously due to significant demand from population and high growth of population. When sour taste is desired in food, tartaric acid can be added. It is used as an antioxidant. Tartarates is the name given to the salts of tartaric acid.
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Top Key Players: Distellere Mazzari Spa, Caviro Group, ATP Group, Commercial Quimica Sarasa SL, Tartaros Gonazalo Castello TGC, Tarac Technologies, Merck, Distillerie Bonollo, Alcolera Vinicola S.A., Legre Mante S.A.
Further Key Findings From The Report Suggest
The Tartaric Acid Market Is Growing At A CAGR Of 0% In The Asia Pacific, Followed By Europe North America, 5.7 % And 5.6% CAGR, Respectively. High Usage Of This Acid Across The Globe Is The Key Factor To Accelerate The Market Growth During Forecast Period Across All Regions
As Of 2018, Food Beverages Application Segment Is The Dominating Tartaric Acid Application Which Holds 29% Of The Global Market. Europe Market Is The Chief Revenue-Generating Source For This Product Segment, Followed By North America And Asia-Pacific Regions
Natural Type Is Expected To Be The Fastest-Growing Market Segment During The Forecast Period 2020-2028 With A CAGR Of 6.0%. However, Associated Costs Are A Significant Challenge For The Market Growth Of This Market Segment
Other Applications Segment (That Includes, Cosmetics, Construction Industry, Agriculture Industry) Was Valued At USD 36.3 Million And Is Expected To Reach USD 53.59 Million By 2026
Europe Is Expected To Account For 34% Of The Global Tartaric Acid Market. The Rising Wine Industry And Demand For Wine Will Help To Witness High Growth
Volatility In Raw Material Prices Due To The Closing Of Production Of Tartaric Acid In Some Regions Irregular Availability Of Natural It Is Likely To Hinder The Market Growth During The Forecast Period.
Regional Outlook
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest Of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest Of APAC)
- Latin America (Chile, Brazil, Argentina, Rest Of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest Of MEA)
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Market Segmentation:
Type (Revenue In USD Million; Volume In Tons, 2018–2028)
- Natural
- Synthetic
Applications (Revenue In USD Million; Volume In Tons, 2018–2028)
- Food Beverages
- Wine
- Pharmaceuticals
- Textile
- Other Applications
Sources (Revenue In USD Million; Volume In Tons, 2018–2028)
- Plants
- Fruits
- Others
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Table Of Contents:
Report Overview
1.1 Research Scope
1.2 Key Tartaric Acid Market Segments
1.3 Major Players
1.4 Market Analysis By Product Type
1.5 Market Analysis By Application
1.6 Report Timeline
Global Growth Trends
2.1 Global Tartaric Acid Market Size
2.2 Latest Regional Market Trends
2.3 Emerging Growth Trends
Competitive Outlook
3.1 Global Tartaric Acid Market Key Players
3.2 Global Tartaric Acid Size By Manufacturers
3.3 Products Of Major Players
3.4 Entry Barriers In The Tartaric Acid Market
3.5 Mergers, Acquisitions, Joint Ventures, And Other Strategic Alliances
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