Category

Tartaric Acid Market Size, Share, Opportunities And Trends By Type (Natural, Synthetic), By Application (Wine, Food & Beverages, Pharmaceuticals, Antacids) And By Geography - Forecasts From 2019 To 2024

96 pages
Published on : Aug 2019
Report Code : KSI061612879

Description

Tartaric acid is an organic acid that occurs naturally in many fruits, particularly in grapes, but also in bananas, tamarinds, and citrus. Tartaric acid is used in wine manufacturing and is also gaining a rise in demand, for its application in the food and beverages industry, due to its antioxidant properties. It is also used in the pharmaceutical industry for medicine preparation and improving the taste of oral medicines. Furthermore, taking into consideration the rising living standard and health care concerns, there is a growth in the consumption of sports & protein drinks, and nutritional bars; which also aids demand for tartaric acid, for its application as food preservatives and flavor enhancer. It also finds its use in the cement and construction industry, because of the anti-solidifying and set-retardant agent characteristics. These factors show the tartaric acid industry to grow at a steady pace. The other uses include use of the acid as a base compound in the cosmetics industry, and as a chelating agent in the soil, fertilizers and metal cleaning.

 However, the increase in government regulations related to the use of synthetic tartaric acid in the food and pharmaceutical industry, to remove its side effects may restrict the growth of the tartaric acid. There also remains another challenge on account of low availability of raw materials and it’s rising prices such as in the case of fruits. According to the United States Department of Agriculture, World production of grapes is projected down to 22.1 million tons, slipping 1.3 million from the previous year on weather-related losses in China and Turkey. To overcome these challenges and grow in the industry, companies are adopting strategies such as rebranding, expansions, and acquisitions. Acquisitions act as the key strategy adopted by players in the tartaric acid market to expand the geographical reach.

By Type

By type, the tartaric acid market is segmented as natural and synthetic. The natural segment holds a significant share in the market, the reason being the regulations by the government and the side effects caused after the use of synthetic tartaric acid.

By Application

By application, the tartaric acid market can be segmented as wine, food & beverages, pharmaceuticals, and antacids. The wine segment holds a significant share of the market because of the increasing demand and consumption of wine. The food & beverages segment is also growing because of the rising living standards and the increasing popularity of packaged food because of health concern.

By Geography

Geographically, the tartaric acid market can be segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. Europe holds a significant share of the market due to increased production of wine and it’s per capita consumption in the region.

Competitive intelligence

The tartaric acid market is highly fragmented with thousands of manufacturers. The players are expanding globally to mirror their customers’ requirement. As a result, they are increasingly integrating with other players. The key players include Alvinesa Alcoholera Vinicola S.A., Tártaros Gonzalo Castelló, Vinicas, Derivados Vinicos, Distillerie Mazzari, Distillerie Bonollo, Tarac Technologies, Omkar Speciality Chemicals Ltd, Changmao Biochemical Engineering, Merck KGaA, Caviro, and PAHI, S.L. among others.

Segmentation

The tartaric acid market has been analyzed through the following segments:

BY TYPE

Natural

Synthetic

 

BY APPLICATION

Wine

Food & Beverages

Pharmaceuticals

Antacids

 

BY GEOGRAPHY

North America

USA

Canada

Mexico

 

South America

Brazil

Argentina

Others

 

Europe

Germany

France

United Kingdom

Spain

Italy

Others

 

Middle East and Africa

Israel

Saudi Arabia

Turkey

Others

 

Asia Pacific

China

Japan

South Korea

India

Others

OUR CLIENTS