Tartaric Acid Market – Rising Demand From Food and Beverages Industry to Promote Growth | Technavio

LONDON–(BUSINESS WIRE)–#Chemicals–The latest market research report by Technavio
on the global
tartaric acid market predicts a CAGR of around 6%
during the period 2018-2022.

The report segments the global tartaric acid market by application
(wine, food and beverages, and pharmaceutical) and by geography (the
Americas, EMEA, and APAC). It provides a detailed illustration of the
major factors influencing the market, including drivers, opportunities,
trends, and industry-specific challenges.

Here are some key findings of the global tartaric acid market,
according to Technavio chemicals
and materials researchers:

• Growing construction industry: a major market driver
• Increasing demand from the food and beverages industry: emerging
  market trend
• The Americas dominated the global tartaric acid market with around 45%
  share in 2017

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Growing construction industry: a major market driver

Growing construction industry is one of the major factors driving the
global tartaric
acid market. The global construction industry is estimated to
reach approximately USD 10.3 trillion in 2020. APAC has some of the
world's leading economies such as Indonesia, China, India, Japan, and
the Philippines. Apart from these, Vietnam and Malaysia are considered
as potential emerging markets, while Singapore is one of the growing
markets in terms of the quality of infrastructure and development. The
infrastructure in Europe and North America is of good quality, depicting
proper coordination and planning between the public and private players
that are anticipating for the development and handling of existing and
new construction projects. This assists these regions in attracting
external investors to provide aid for the rehabilitation and
reconstruction of existing structures.

According to a senior analyst at Technavio for research on specialty
chemicals, “The market for tartaric acid is anticipated to
grow based on its increasing use to delay the settling of gypsum. It
acts as a retardant to delay the setting process in cement and plaster
production and an anti-caking agent in gypsum processing. The
construction industries in the developing markets are expected to grow
at a much faster rate than the advanced economies. This is because of
the increasing number of residential projects where the population has
been growing rapidly over the past few years.”

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Increasing demand from the food and beverages industry: emerging
market trend

The food industry provides a range of products such as animal food,
consumer food, food ingredients, food additives, and dietary and
nutraceutical supplements. Vendors collaborate for retailing, packaging
and distribution, and the sale of these products. The beverages industry
provides products such as juice, health drinks, alcoholic drinks,
non-alcoholic drinks, and aerated drinks. Manufacturers are
concentrating on increasing the production speed and output. Competitive
pricing is anticipated to be one of the key factors for the growth of
the market during the forecast period. Various product segments of the
global beverages market will project growth during the forecast period.
These factors will be one of the reasons for the growth of the global
tartaric acid.

Global market opportunities

In terms of regional dominance, EMEA led the global tartaric
acid market, contributing a market share of approximately 45% in
2017. It was followed by the EMEA region that contributed the second
largest share in the market and the APAC region that contributed the
least share in the market.

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