Global Synthetic Tartaric Acid Market: CAGR 4.8% Projections and Industry Trends (2023-2027)

The global Synthetic tartaric acid market is estimated to reach a value of US$ 531.4 Mn by 2018 end and is projected to reach US$ 804.7 Mn by the end of 2027. The Synthetic tartaric acid market is estimated to expand at a CAGR of 4.8% during the forecast period. The global Synthetic tartaric acid market is expected to create incremental $ opportunity worth US$ 273.3 Mn over the period of 2019-2027.

The synthetic tartaric acid market has been growing rapidly in recent years, due to its increasing demand in various applications such as food and beverage, pharmaceuticals, and cosmetics. Tartaric acid is a naturally occurring organic acid, widely used as a food additive due to its sour taste, and as a clarifying agent in wine making. However, the demand for tartaric acid has been increasing beyond the natural supply, resulting in the growth of the synthetic tartaric acid market.

The synthetic tartaric acid market is segmented based on application, form, and region. Based on application, the market is segmented into food and beverage, pharmaceuticals, cosmetics, and others. Food and beverage applications are the largest end-users of synthetic tartaric acid, which is used as an acidulent, flavor enhancer, and as a preservative. In pharmaceuticals, synthetic tartaric acid is used as an excipient, which helps in the dissolution of drugs. In cosmetics, tartaric acid is used as an ingredient in skin care and hair care products, due to its skin-lightening and anti-aging properties.

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Report Description

To ascertain and comprehend synthetic tartaric acid market opportunities and trends, the global market report has been bifurcated into different sections based on product type, application and region. The global synthetic tartaric acid report begins with a market overview that provides market definitions and taxonomy along with value chain, market dynamics, & pricing analysis pertaining to the synthetic tartaric acid market. Following this, the synthetic tartaric acid market background has been covered, that includes the factors affecting the synthetic tartaric acid market. The macro-economic factors in the synthetic tartaric acid market include the global wine production vs consumption, share of natural vs synthetic tartaric acids, etc.

The market background also covers the dynamics that affect the synthetic tartaric acid market. The dynamics section in the report includes drivers and restraints. In the value chain analysis section, the flow of synthetic tartaric acid from raw material manufacturers, manufacturers of synthetic tartaric acid to end-users through various supplier and distributors involved has been listed. The final part of the synthetic tartaric acid market is the forecast factors, which comprise factors that are estimated to impact the global synthetic tartaric acid market.

The sections that follow include the global synthetic tartaric acid market analysis by product type, application and region/country. All the above mentioned sections evaluate the synthetic tartaric acid market on the basis of several factors. Each section in the report discusses the qualitative and quantitative features of the global synthetic tartaric acid market. To give in-depth idea about the revenue opportunities from the application, product type and region/country-wise segments, the report also delivers synthetic tartaric acid market value (US$ Mn) data, growth rates, synthetic tartaric acid market shares and total incremental opportunity indices for each segment over the period of 2019-2027.

In the last section of the synthetic tartaric acid market report, we have included a detailed competition landscape with company market share, in terms of value and performance, to provide report audiences with a dashboard view of key players operating in the global synthetic tartaric acid market along with their business strategies. This would help clients to gauge strategies deployed by key market players in the synthetic tartaric acid market and help them develop efficient strategies accordingly.

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Research Methodology

For synthetic tartaric acid market data analysis, 2017 has been considered as the base year, 2018 as an estimated year and forecast has been made from 2018-2027. To determine the synthetic tartaric acid market, the global demand for synthetic tartaric acid was assessed and funneled down to different product types w.r.t. region/country. The FMI assessment is based on a multipronged approach that comprises primary and secondary research and triangulation of data obtained therefrom. During the initial phase, product mapping was done, wherein the types of products offered by key players with respect to application were identified.

Further, in secondary research work, data available in public domains, such as company annual reports_bk_01_01_2020, industry associations, white papers, journals, government sites and publications, among others sources was collected and based on that, a set of data points were built. For the same, a bottom-up approach was used to ascertain market numbers for each product type and a top-down approach was used to counter-validate the market assessment. The forecast presented in the synthetic tartaric acid report estimates the market size (US$ Mn) in 2017 with regard to synthetic tartaric acid and the expected market value (US$ Mn) in the global synthetic tartaric acid market over the forecast period.

We have also scrutinized the different segments of the global synthetic tartaric acid market in terms of basis point share (BPS) to comprehend individual segments' relative contribution to market growth. This thorough level of information is imperative for identifying several key trends governing the global synthetic tartaric acid market. The report also analyses the global synthetic tartaric acid market based on incremental $ opportunity & the global absolute $ opportunity.

This is often overlooked while evaluating the market forecast; however, from a business perspective, it is vital to identify the market attractiveness in terms of three indices, viz. CAGR index, market share index and incremental $ opportunity, to ascertain the high potential resources in the synthetic tartaric acid market. Moreover, the synthetic tartaric acid market attractiveness index is the key to comprehend the key segments in terms of their performance and growth rate in the global synthetic tartaric acid market. This market attractiveness index would also help clients to identify real market opportunities in the global synthetic tartaric acid market.

Synthetic Tartaric Acid Market Segmentation

Product Type
• L (+)- Tartaric Acid
• D (-)- Tartaric Acid
• DL Tartaric Acid

By Application
• Wine
• Food & Beverage
• Pharmaceuticals
• Chemicals
• Building & Construction
• Others

Region
• North America
• Latin America
• Europe
• China
• APAC
• Middle East and Africa

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