Global Tartaric Acid Market 2018: Region Wise Analysis of Top Players in Market By Types and Applica

Global Tartaric Acid Market Stimulated by Flourishing Food and Beverage Industry

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Global Tartaric Acid Market Stimulated by Flourishing Food and Beverage Industry

The global tartaric acid market has been witnessing a positive growth over the past few years. This can be accredited to various factors such as health benefits offered by tartaric acid, thriving food and beverage industry, and rising consumption of wine across the globe.

According to the latest report by IMARC Group, titled “Tartaric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global tartaric acid market reached a value of more than US$ 289 Million in 2017, growing at a CAGR of nearly 6% during 2010-2017. Tartaric acid is a naturally occurring white carboxylic acid which is present in different types of plants such as bananas, apricots, apples, grapes and tamarinds. Apart from this, it can also be synthetically manufactured from maleic anhydride.

Tartaric acid first came into recognition in the late 1760s, when it was isolated by Carl Wilhelm Scheele who boiled tartar with chalk and then decomposed it with sulfuric acid. With time, it also played a vital role in the discovery of chemical chirality which later helped in the production of a pure sample of levotartaric acid. At present, tartaric acid along with its salts are also used as preservative, flavour enhancer, acidulant, stabiliser, chelating agent and emulsifier.

One of the major factors which is driving the growth of the tartaric acid market is the rising awareness among consumers regarding the health benefits offered by tartaric acid such as increasing production of collagen, enhancement of energy generation in the body as well as boosting of metabolism.

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In addition to this, tartaric acid acts as a primary raw material in the process of winemaking which has consequently propelled the overall demand for tartaric acid across the globe. Other than this, tartaric acid is also used in the in the processing of gypsum as an anti-caking agent as well as in the production of cement in the form of a set-retardant and anti-solidifying agent. These are some of the other forces which are contributing towards the overall market growth. However, the feedstock for natural tartaric acid is available seasonally and the consumers are reluctant to use synthetic tartaric acid in pharmaceuticals, and wine. This remains a primary obstacle which is hindering the growth of the global tartaric acid market.

Looking forward, the market value is projected to reach a value of around US$ 377 Million by 2023.

Read more here: https://www.imarcgroup.com/tartaric-acid-technical-material-market-report-2

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On the basis of end-use, the global tartaric acid market has been segmented into food and beverage, and non-food applications. Amongst these, food and beverage applications account for the majority of the market share owing to the usage of tartaric acid for enhancing the flavour of carbonated beverages and in bakery in the form of a preservative and emulsifier.

On a geographical front, Europe represents the largest market for tartaric acid. This is due to a rapid rise in the wine production across various European countries such as France, Italy, Germany and Spain.

Europe is followed by the United States, Middle East/Africa, China, and Central/South America.

The competitive landscape of the market has also been examined with some of the key players being Caviro, Changmao Biochemical Engineering Company Ltd., Hangzhou Bioking Chemical Engineering Company Ltd., Industrias Vinicas and Legre Mante.

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