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Tartaric Acid Market to surpass $600mn by 2024: Global Market Insights, Inc.

Author : Ravi Chawat | Published Date : 2020-10-16 

Tartaric Acid Market is expected to cross USD 600 million; according to a new research report by Global Market Insights, Inc.  Tartaric acid, also known as 2, 3-dihydroxybutanedioic acid, is a white crystalline organic acid. It is produced from both synthetic, and natural raw materials. Tartaric acid finds major applications in wine, food & beverage sectors for providing a distinct taste to human-consumables. Sun dried raisins &Grapes, are some of the naturally-available rich tartaric acid sources.

Artificially, it could be produced through maleic anhydride. The natural tartaric acid has applications, primarily in food & beverage, wine, pharmaceuticals, wine, and others, while synthetic tartaric acid applications are only limited to cosmetics, personal care goods, construction chemicals, and some others. 

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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. 

The natural tartaric acid segment is projected to be the fastest-growing during the projected period, due to its wide range of applications such as food & beverages, wine, pharmaceutical, which further results in an exponential rise in both product consumption and manufacturing. 

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. 

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https://www.globenewswire.com/news-release/2016/10/03/876456/0/en/Rheology-Modifiers-Market-size-to-reach-6-83bn-by-2024-Global-Market-Insights-Inc.html

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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