Tartaric Acid Market 2023 Key Players and Production Information Analysis with Forecast 2030

As per the report published by The Brainy Insights, the global tartaric acid market is expected to grow from USD 350.4 million in 2021 to USD 586.9 million by 2030, at a CAGR of 5.9% during the forecast period 2022-2030. Europe region emerged as the largest market for the global tartaric acid market, with a 34.5% share of the market revenue in 2021. Europe currently dominates the tartaric acid market due to Germany is the biggest customer of tartaric acid in Europe. The market in Germany is anticipated to increase aggressively over the projection time due to the increased need for tartaric acid from the food and beverages enterprise. In Germany, the beverages enterprise is the most extensive customer of the product. The demand for various types of foods and drinks is expected to grow in Germany due to the increasing population; it is predicted to influence the industry development in the country altogether. Similarly, the market players are extending production units to satisfy consumers' needs and adopting investment strategies to rise in the market. Numerous winemakers are concentrating on the economy and setting their distilleries to reuse waste obtained from winemaking.

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Tartaric Acid Market Size by Type (Synthetics, and Natural), Source (Maleic Anhydride, and Grapes & Sun-dried Raisins), Application (Cosmetics & Personal Care Products, Pharmaceuticals, and Food & Beverages), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include The ATP Group, Tarac Technologies Pty Ltd, PAHI, S.L, Omkar Speciality Chemicals Limited Merck, KGaA, Distillerie Mazzari (S.P.A., Distillerie Bonollo S.p.A, Derivados Vínicos SA, Changmao Biochemical Engineering Company Limited, Caviro Group, among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The type segment is divided into synthetics & natural. The natural segment dominated the market, with a market share of around 56% in 2021. The source segment is divided into maleic anhydride, and grapes & sun-dried raisins. The grapes & sun-dried raisins segment dominated the market, with a market share of around 54% in 2021. The application segment is divided into cosmetics & personal care products, pharmaceuticals, and food & beverages. The food & beverages segment dominated the market, with a market share of around 33% in 2021.

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The COVID-19 outburst has impacted almost all enterprises across regions, as most manufacturing firms are completely shut or working with fewer production teams. Out of this, the need for food was very high. Food and beverage sales showed favourable growth, pushing manufacturers to shift their sales strategies into online platforms. Regardless, manufacturers must reset the supply chain network. They are transforming sourcing patterns and focusing on local providers instead of sourcing from different regions. The coronavirus attack has delayed different businesses in most regions. Europe has been highly affected by Covid-19, which may have a mild effect on the tartaric acid market

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