Press release
Tartaric Acid Market Top Key Industry Players: Distillerie Mazzari, Caviro, Changmao Biochemical Engineering, Tarac Technologies, ALVINESA ALCOHOLERA VINICOLA S.A., Omkar Speciality Chemicals Ltd, PAHI, S.L., Merck KGaA, Tártaros Gonzalo Castelló, Deriv
Tartaric Acid Market
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The market for tartaric acid based on natural sources is estimated to grow at a CAGR of 4.5%, surpassing synthetic segment. Owing to its extensive variety of applications in food & beverage, pharmaceutical and wine. In recent years it had shown a notable rise in terms of product consumed and volume produced which is substantially growing the market over the forecast spell.
Increasing wine demand across the globe is will drive the global tartaric acid market during the forecast period. The tartaric acid addition to wine gives a significant taste, which the consumers highly prefer. The tartaric acid demand for food & beverage, construction, FMCG, and pharmaceutical, end-use applications is predicted to rise at a noteworthy growth rate and would drive the market additionally over the projected period. The global consumption of wine was 24 billion liters by the end of 2015 and anticipated to increase over a CAGR of more than 3% till 2018. The increasing wine consumption is significantly favoring the growth of the tartaric acid demand, which in turn drives the global market.
Fluctuations in the availability of natural tartaric acid is leading to high variations in their prices, which is a significant restraint to the natural tartaric acid market growth. Moreover, the market growth is additionally restricted by the growing demand for citric acid, which acts as a substitute to tartaric acid for acidulate applications. Also, there are stringent restrictions regarding the synthetic tartaric acid use in food & beverage, wine, and pharmaceutical applications, and this might further restrain the synthetic tartaric acid market growth globally over the estimated period.
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Type By Application
o Natural
o Wine
o Food & Beverage
o FMCG
o Pharmaceutical
o Others
o Synthetic
o Wine
o Food & Beverage
o FMCG
o Pharmaceutical
o Others
By Application
o Wine
o Food & Beverage
o FMCG
o Pharmaceutical
o Others
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The Europe tartaric acid market constituted a significant market share by the end of 2016 and would grow at a similar pattern till 2024. Increasing wine production operations in countries like France, Italy, and Spain will majorly boost the Europe regional market in the projected timeframe. Asia Pacific market is the second-largest market, which is primarily driven by Japan, India, and China. Growing product consumption in manufacturing FMCG products, coupled with the growing product consumption in construction chemicals is anticipated to boost the regional market of Asia Pacific till 2024.
Leading players of global tartaric acid market are Omkar Speciality Chemicals, Caviro, Distillerie Mazzari, Changmao Biochemical, ALVINESA ALCOHOLERA VINICOLA, Tarac Technologies, PAHI, Merck KGaA, Derivados Vinicos, Tártaros Gonzalo Castelló and Vinicas.
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