Global Tartaric Acid Market: Snapshot

The rapid development of the food and beverages industry has resulted in a high growth of the global tartaric acid market in the next few years. The rising number of application in diverse industries is projected to enhance the market growth in the near future.

According to the market research study by Transparency Market Research, the global market for tartaric acid is projected to reach a value of US$3.16 billion by the end of 2022. The market is likely to register a promising 6.205 CAGR between 2014 and 2022.

Rising Number of Applications to Enhance Market Growth in Near Future

The increasing multiple functionalities across diverse industries and the significant rise in the wine industry are considered as some of the key factors that are projected to enhance the growth of the global tartaric acid market in the near future. In addition to this, the rising research and development activities and the growing focus on technological advancements and innovations are likely to accelerate the market growth in the coming years.

On the flip side, the rising infrastructural challenges in emerging nations and the less availability of raw materials resulting in higher production costs are predicted to hamper the growth of the market in the near future. Moreover, the restricted use of the synthetic tartaric acid in different applications is projected to restrict the market growth in the near future. Nonetheless, the less stringent regulations and the production of tartaric acid through cost-effective methods are likely to support the market growth and generate potential opportunities for market players in the near future.

Europe to Lead Global Tartaric Acid Market in Coming Years

The global tartaric acid market has been categorized on the basis of geography into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. In the last few years, Europe led the global tartaric acid market and is projected to maintain its dominance in the near future. The presence of a large number of leading players is expected to accelerate the growth of the market in the near future. Furthermore, Asia Pacific is projected to register a strong growth rate in the next few years, owing to the increasing consumption of wine and the growing demand from the food and beverages industry. The North America market for tartaric acid is predicted to witness high growth in the near future. The high growth of this region can be attributed to the rising construction and pharmaceutical industries in the coming few years. 

The global market for tartaric acid is considered as fragmented in nature with a large number of players operating in it. The rise in the number of players that are expected to enter the market is projected to strengthen the competitive environment of the market in the next few years. The key players are emphasizing on the research and development activities and expansion of the product portfolio so as to enhance their penetration in the coming years. Some of the key players operating in the tartaric acid market across the globe are Derivados Vinicos S.A., Caviro Distillerie S.R.L., American Tartaric Products, Inc., Distillerie Mazzari S.p.A., Changmao Biochemical Engineering Company Ltd., The Tartaric Chemicals Corporation, Giovanni Randi S.p.A., Industria Chimica Valenzana S.p.A., Tarcol S.A., Vinicas, Inc., and Omkar Speciality Chemicals Ltd.

 
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)
.