Global Tartaric Acid Market: Snapshot

The global market for tartaric acid is developing rapidly in the last few years and is expected to observe a promising growth in the coming years. Innovations and advancements in the technology are further projected to offer lucrative opportunities for the players in the coming few years. In addition to this, the rising number of applications and the strict regulations for the manufacturing of tartaric acid are likely to enhance the growth in the next few years.

As per the market research report offered by Transparency Market Research, the market for tartaric acid is expected to reach US$3.16 bn by the end of 2022. The market is anticipated to register a healthy 6.20% CAGR between 2014 and 2022.

High Consumption of Wine to Drive Global Tartaric Acid Market

The global tartaric acid market is anticipated to observe a promising growth in the coming few years. The rise in the functionalities in several end user industries and the rapid development of the wine industry are predicted to support the market growth in the coming years. The leading players in the market are making heavy investments in the tartaric acid market, especially for innovations and research activities. This is anticipated to offer growth opportunities for the market players across the globe. In addition to this, the tartaric acid manufacturers are making efforts for reducing the production cost, thanks to which the market is likely to propel market growth in the next few years.

The global market for tartaric acid has been classified on the basis of application into construction, wine, food and beverages, pharmaceuticals, and others. Among these, the food and beverages segment is anticipated to account for a large share of the tartaric acid market in the coming few years. The high demand for tartaric acid and the escalating wine consumption are projected to enhance the growth of this segment in the next few years.

Rise in Demand for Tartaric Acid from Food and Beverages to Encourage Growth

From a regional perspective, Europe is anticipated to account for a large share of the tartaric acid market worldwide in the coming few years. A tremendous rise in the demand for tartaric acid across diverse industries and the existence of leading players are the key factors that are estimated to enhance the growth of the Europe market in the near future. The Asia Pacific market, on the other hand, is anticipated to witness a healthy growth. The rise in the demand for tartaric acid from the food and beverages industry and the tremendously increasing consumption of wine are predicted to support the market growth in the next few years.

The global tartaric acid market is characterized by a high level of competition among the leading players. The presence of a large number of players and the expected rise in entry of new players are predicted to enhance the growth of the overall market in the next few years. The rising number of applications and the growing focus of the key players on technological advancements are estimated to accelerate the market growth in the coming few years. The leading players operating in the global tartaric acid market are American Tartaric Products, Inc., Omkar Speciality Chemicals Ltd., Tarcol S.A., Derivados Vinicos S.A., Industria Chimica Valenzana S.p.A., Giovanni Randi S.p.A., Distillerie Mazzari S.p.A., Caviro Distillerie S.R.L., and Vinicas, Inc.

Tartaric acid is a four-carbon organic acid, primarily used in wine production to impart the characteristic tart taste to the wine. Tartaric acid can be produced from natural sources as well as synthetic raw materials. Natural source for tartaric acid is lees, which is obtained after racking wine, usually in the summers. Lees, which is rich in potassium tartrate, is further processed to produce tartaric acid. Synthetic tartaric acid is produced from maleic anhydride. Natural tartaric acid is produced across all wine producing regions in the world, while synthetic tartaric acid is majorly produced in Asia Pacific, especially China. 
 
This report provides a detailed description of the global tartaric acid market based on volume share (kilo tons) and revenue (US$ Mn) for the period of 2014 to 2022. It highlights the factors contributing to the growth of the market and the restraints that impede the market. Detailed forecast for tartaric acid from 2014 to 2022 has been given separately for better understanding of the market scenario. The tartaric acid market is described with respect to various segments along with the expected opportunities over the next six years.
 
In terms of geography, the global tartaric acid market has been segmented into the following regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). Each region has been further divided into countries which have been found to be key markets for tartaric acid. 
 
On the basis of end-user industry, the study segments the market into wine, food & beverages, construction, pharmaceutical, and others (including chemicals, metal finishing, and leather tanning). It provides forecasts and estimates for each end-user segment in terms of revenue and volume during the forecast period from 2014 to 2022 for each region and inclusive of countries as well. The study also analyzes market attractiveness for all end-users of tartaric acid with the help of the market attractiveness tool.
 
Rising demand for tartaric acid in key end-user industries such as pharmaceuticals and wine is projected to boost the global market for tartaric acid. The pharmaceuticals industry is a high-value-low-volume market for tartaric acid, where it is utilized as an organic excipient for weakly acidic drugs. The wine industry is growing globally owing to increasing consumption of wine in Asia Pacific and Latin America. However, seasonality in supply of feedstock for natural tartaric acid and restricted use of synthetic tartaric acid for food grade and pharmaceutical grade applications are likely to hamper market growth. Growth opportunities are expected to be created by the rapidly growing construction industry in the GCC region. 
 
Value chain analysis and Porter’s five forces model have been provided for a comprehensive view of the market. These would also help understand the specifics of the industry structure, besides giving an overview of the degree of competitiveness. The report also includes detailed profiles of key players such as Caviro Distillerie S.R.L., Tarcol S.A., American Tartaric Products Inc., Distillerie Mazzari S.p.A., Derivados Vinicos S.A., Giovanni Randi S.p.A., The Tartaric Chemicals Corporation, Industria Chimica Valenzana S.p.A., Vinicas Inc., Omkar Speciality Chemicals Ltd., and Changmao Biochemical Engineering Company Ltd. Detailed description of players includes parameters such as company overview, financial overview, business strategies, upcoming facilities, capacity addition, mergers, acquisitions and joint ventures, new products, and recent developments.
 
The report segments the global tartaric acid market as:
  • Tartaric Acid Market – End-user Analysis
    • Wine
    • Food & beverages
    • Pharmaceutical
    • Construction
    • Others (Including chemical, leather tanning, metal finishing, etc.)
  • Tartaric Acid Market – Regional Analysis
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa (MEA)
.