Global Tartaric Acid Market 2017-2022 by Source, Type and Application – A $285.6 Million Market Opportunity – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The "Tartaric
Acid Market by Source, Type, Application, and Region – Global Forecast
to 2022"
report has been added to ResearchAndMarkets.com's
offering.

The tartaric acid market is estimated to be valued at USD 215.7 Million
in 2017, and is projected to reach USD 285.6 Million by 2022, at a CAGR
of 5.77%.

The market driver responsible is the increase in its usage in the
growing wine industry; it is also used in many other industries such as
the pharmaceutical, where it is used as an ingredient, along with citric
acid, to improve the taste of oral medications.

The tartaric acid market in Europe was the largest in 2016 and is
expected to remain the largest during the forecast period. This is due
to higher consumption levels for wine and other food items, where
tartaric acid acts as one of the key ingredients. Increasing penetration
of tartaric acid in European industries, for chelating agents, is also
expected to fuel the already high demand for tartaric acid in the region.

The rising exports from European and North American countries owing to
the demand from countries in the Asia Pacific such as India and Japan
and in RoW such as Brazil and Argentina, and in the Middle Eastern
countries are expected to drive the demand for tartaric acid in this
region in the coming years. Additionally, the demand in the Asia Pacific
and RoW countries is attributed to the rise in the food & beverage
industry where tartaric acid is used as a flavor modifier in sports
drinks and ready-to-drink beverages.

Growth of the construction and ceramics industries, especially in the
Middle Eastern countries, also contributes toward the overall tartaric
market growth. The increasing government regulations in various
countries are restricting the use of synthetic tartaric acid in food-
and pharmaceutical-grade applications, which in turn restrains the
market growth for tartaric acid.

The tartaric acid market is dominated by various players, depending on
their core competencies. The key players in this market are Caviro Group
(Italy), ATP Group (US), Merck (Germany), Omkar Specialty Chemicals
(India), Changmao Biochemical Engineering (China), Tarac Technologies
(Australia), PAHI (Spain), Distillerie Mazzari (Italy), Distillerie
Bonollo (Italy), Derivados Vinicos (Argentina), Industrias Vinicas (US),
and Trtaros Gonzalo Castell (Spain). These companies adopted strategies
such as rebranding, expansions, and acquisitions to strengthen their
position in the market.

Market Dynamics

Drivers

  • Multiple Functionalities Across Different Industries
  • R&D and Technological Innovations
  • Growth in the Wine Industry

Restraints

  • Restricted Use of Synthetic Tartaric Acid in Various Applications

Opportunities

  • Production of Tartaric Acid Through Cost-Effective Methods
  • Less Stringent Regulations

Challenges

  • Infrastructural Challenges in Developing Countries
  • Less Availability of Raw Materials Results in Higher Production Costs

Companies Mentioned

  • ATP Group
  • Caviro Group
  • Changmao Biochemical Engineering
  • Derivados Vinicos
  • Distillerie Bonollo
  • Distillerie Mazzari
  • Industrias Vinicas
  • Merck
  • Omkar Specialty Chemicals
  • Pahi
  • Tarac Technologies
  • Trtaros Gonzalo Castell

For more information about this report visit https://www.researchandmarkets.com/research/5b5996/global_tartaric?w=4

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Related
Topics: Food
Additive Chemicals
, Pharmaceutical
Intermediates