Global Tartaric Acid Market Size, Share, Growth 2017-2022.
The global tartaric acid market has witnessed a healthy growth in the past few years. This can be attributed to its myriad applications and the increasing popularity of packaged foods, where tartaric acid is a key ingredient.
The latest report by IMARC Group titled, “Tartaric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global tartaric acid market reached a value of more than US$ 230 Million in 2016, growing at a CAGR of nearly 6% during 2009-2016. Tartaric acid is a naturally occurring substance and is mostly found in fruits such as grapes, apricots, apples, bananas, avocados and tamarinds. It can also be produced synthetically from maleic anhydride. It acts as an acidulant, leavening agent and displays anti-inflammatory, anti-oxidant, anti-microbial and anti-caking properties. In addition, tartaric acid offers several health benefits as it helps in boosting the immune system, maintaining digestive health, lowering glucose levels, improving intestinal functions and promoting overall wellness. Owing to the aforementioned properties, tartaric acid finds wide applications across numerous industries.
Highlights of the global tartaric acid market:
The heightened demand for tartaric acid in the food and beverage industry remains the major growth inducing factor.
Increasing popularity of wine is expected to boost the demand for tartaric acid globally.
Europe represents the largest market for tartaric acid.
The market is primarily driven by its diverse applications, majorly in the food and beverage industry. Packaged items such as pickles, jams, jellies, soft drinks, fruit juice, etc. consist tartaric acid where it is used as a preservative and additive. It also plays a major role in the bread making process where it acts as an emulsifier. Increasing popularity of such convenience food products due to busy lifestyles is facilitating the market growth. Tartaric acid is also used in fermentation during the production of wine, consumption of which has lately increased in the emerging markets, particularly Asia. Due to the growth of the wine industry, the demand for tartaric acid is anticipated to rise in the near future. Some of its industrial applications include the manufacturing of ceramics, textile printing, tanning, photography, etc., which are further stimulating its demand. According to the report, the market is expected to reach a value of US$ 330 Million by 2022.
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Based on application, the food and beverage industry accounts for the majority of the market share. On evaluating the major regions, Europe represents the largest market. Other regions include the United States, Middle East/Africa, China, and Central/South America. An analysis of the competitive landscape finds that Caviro, Changmao Biochemical Engineering Company Ltd., Hangzhou Bioking Chemical Engineering Company Ltd., Industrias Vinicas, and Legre Mante are the key players operative in the market.
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The report by IMARC Group has examined the global tartaric acid market on the basis of:
Food and Beverages Applications
Changmao Biochemical Engineering Company Ltd.
Hangzhou Bioking Chemical Engineering Company Ltd.
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