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Tartaric Acid Market Size, Share & Trends Analysis Report By Source, By Application, By Region And Segment Forecasts, 2022 - 2026

Tartaric Acid Market Size, Share & Trends Analysis Report By Source, By Application, By Region And Segment Forecasts, 2022 - 2026

  • July 2022
  • 169 pages
  • ID: 6315303
  • Format: PDF
  • Grand View Research

Summary

Table of Contents

Tartaric Acid Market Size, Share & Trends Analysis Report By Source (Grapes & Sun-dried Raisins, Maleic Anhydride), By Application (Food, Beverages), By Region, And Segment Forecasts, 2022 - 2026

Tartaric Acid Market Growth & Trends

The global tartaric acid market size is expected to reach USD 468.15 million by 2026, as per the new report. It is expected to expand at a CAGR of 6.0% from 2022 to 2026. The industry growth is majorly attributed to the rapid growth of the food, wine, and beverage industries and an increase in the population. Tartaric acid is a type of organic acid that is abundantly found in grapes in its natural form. It is synthetically produced from Maleic anhydride owing to its structural similarities. The product is used in several end-use applications including food, beverages, pharmaceutical, cosmetics and personal care, animal feed, construction, and metal cleaning.

Raw materials used to manufacture the product using the natural route are fruits, especially grapes, while raw materials used in the synthetic route include maleic acid and hydrogen peroxide.The manufacturers of the product have established supply agreements with raw material suppliers to ensure uninterrupted availability of raw materials at competitive prices, in order to smoothen production operations.

Tartaric acid is widely used in the wine industry for improving taste, reducing pH, and as a preservative in wine.Factors such as the increasing disposable income of consumers and the growing acceptance of wine among the young population have boosted global wine consumption.

Additionally, increasing wine production in major markets, such as Italy, France, Spain, and the U.S., has further fueled the growth of the wine industry.

The product is extensively used in functional foods, nucleotides, and energy drinks on account of its anti-oxidant and inflammatory properties.Increasing awareness regarding the health benefits of anti-oxidants and growing consumer preference for a healthy diet across the world are expected to have a favorable impact on the demand for tartaric acid during the forecast period.

The major end-use industries of the product are food, beverages, and pharmaceuticals, which were less severely impacted by the COVID-19 pandemic as they are classified under essential services.This had a positive effect on the demand for tartaric acid as these industries were operational to some extent despite the lockdown.

With the situation returning to normal by the end of 2021, the product witnessed an increase in demand from other industries, thereby normalizing the market.

Tartaric Acid Market Report Highlights
• Europe captured the largest revenue share of over 35.0% in 2021. This is owing to the presence of a large number of wineries in the region
• The maleic anhydride source segment held the largest revenue share of over 55.0% in 2021. This is owing to the high demand for cost-effective synthetic tartaric acid, which is manufactured utilizing maleic anhydride
• The beverages application segment held the largest revenue share of over 40.0% in 2021. This is attributed to the high demand from the wine industry
• The market is consolidated with a few yet large players that are operating globally. It is a well-established market with a developed value chain. The players are involved in increasing their geographical reach to gain a competitive edge and enter the untapped markets
• Companies such as Thirumalai Chemicals have integrated through the value chain from production and supply of raw material maleic acid to tartaric acid production. This enables the company to cater to a wide range of application markets

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