Newark, Sept. 13, 2022 (GLOBE NEWSWIRE) -- 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.
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The need for tartaric acid is growing globally due to its vast usage in different end-user enterprises. The actual use of tartaric acid includes wine and various non-alcoholic drinks, pharmaceuticals, and bakery products, which have noticed considerable sales traction in the last periodic years. Tartaric acid is utilized as a food preservative and taste developer. Tartaric acid is naturally received from bananas, tamarind, and grapefruits. The increasing craze for having natural additive-based food and drinks is pushing the need for naturally pulled tartaric acid.
Competitive Strategy
To enhance their market position in the global tartaric acid market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
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Market Growth & Trends
Tartaric acid is a natural white crystalline diprotic acid. The combination occurs naturally in different plants, especially bananas, grapes, and tamarinds. Tartaric acid is utilized in numerous foods where a bitter flavor is expected. Tartaric acid is one of the preliminary acids seen in wine and is also used as an antioxidant. Tartaric acid is used in the food industry as a flavoring agent and additive and is also used in medicines, ceramics, textile photography, tanning, and printing. Numerous roles of tartaric acid among various enterprises are anticipated to rise as a predominant factor pushing the need for the tartaric acid market. Similarly, global wine industry expansion is projected to impact the tartaric acid market significantly. Tartaric acid is also utilized in the winemaking procedure. Tartaric acid and its by-products are helpful in baking, where it acts as a leavening agent when combined with baking powder. It is utilized in various pharmaceutical applications like manufacturing tonics and antibiotics. It is usually used to improve the taste of the medicine. Tartaric acid is utilized as a layer for pallets and capsules. Tartaric acid and its salts are the pH adjusters in personal care products like creams & soaps.
• In 2021, the natural segment dominated the market with the largest market share of 56% and market revenue of 196.2 million.
The type segment is divided into synthetics, & natural. In 2021, the natural segment dominated the market with the largest market share of 56% and market revenue of 196.2 million. The factors pushing the growth are the usage of natural tartaric acid in the food & beverage and pharmaceutical sectors.
• In 2021, the grapes & sun-dried raisins segment dominated the market with the largest market share of 54% and market revenue of 189.2 million.
The source segment is divided into maleic anhydride, and grapes & sun-dried raisins. In 2021, the grapes & sun-dried raisins segment dominated the market with the largest market share of 54% and market revenue of 189.2 million. They are the natural form of tartaric acid. It is a by-product of the winemaking procedure in the shape of crystals. The extract has a vast use in the food Industry.
• In 2021, the food & beverages segment dominated the market with the largest market share of 33% and market revenue of 115.6 million.
The application segment is divided into cosmetics & personal care products, pharmaceuticals, and food & beverages. In 2021, the food & beverages segment dominated the market with the largest market share of 33% and market revenue of 115.6 million. It is a natural taste developer and food emulsifier. It balances batter systems and improves fruit flavours & colour in baked food products while acting as a buffer in winemaking to control preservatives, antioxidants, and acidity.
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Regional Segment Analysis of the Tartaric Acid Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, the Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global tartaric acid market, with a market share of around 34.5% and 120.8 million of the market revenue in 2021. Europe maintains the most significant tartaric acid market share among all regions due to a considerable number of wine manufacturers present in the region. The increasing use of pre-packaged food and different types of drinks, also the rising urban population in South Asia, is making favorable growth prospects for new market entrants.
Key players operating in the global tartaric acid market are:
• 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
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global tartaric acid market based on the below-mentioned segments:
Global Tartaric Acid Market by Type:
• Synthetics
• Natural
Global Tartaric Acid Market by Source:
• Maleic Anhydride
• Grapes & Sun-dried Raisins
Global Tartaric Acid Market by Application:
• Cosmetics & Personal Care Products
• Pharmaceuticals
• Food & Beverages
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About the report:
The global tartaric acid market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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