Tartaric Acid Market is Segmented by types such as levotartaric acid, dextrotartaric acid, mesotartaric acid and racemic acid having application such as food applications, pharmaceuticals, cosmetics and construction industries.
Demand for tartaric acid is expected to witness promising growth at a CAGR more than 6% through 2030, major reason being, the wine industry is expanding all over the world. A large part of the world population is consuming wine, which, in turn, increases the need for tartaric acid meant to correct the acidity of wine. Apart from this, tartaric acid is also used as an emulsifier, preservative, and acidifier in baked goods, jams & jellies, carbonated drinks, and many other such products.
Europe is the largest market for tartaric acid, as it also holds the largest share in the wine industry; most wines are produced in Italy, Spain, and France. With ever-increasing consumption of wine, the global tartaric acid market is projected to close in on a billion valuation over the next ten years.
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Key Takeaways from Tartaric Acid Market Study
“Wide application of tartaric acid in different industries is fueling its demand. Manufacturers in the tartaric acid market space can target the food & beverage industry with segment-specific tartaric acid for increased sales,” says a PMR analyst.
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Global Tartaric Acid Market: Competitive Landscape
The global tartaric acid market is witnessing tough competition among players, as most players are established within the same region. Market players are focusing on circular economy and are sourcing raw material from nearby wineries.
Manufacturers in the tartaric acid landscape are acquiring businesses that deal in the same offerings to increase their product line.
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Persistence Market Research presents a report with detailed analysis of the global tartaric acid market. This report covers historical demand data and forecast figures for the period of 2020 to 2030. The report also includes insightful analysis of the tartaric acid market through three different segments – function (acidifiers, preservative emulsifiers, flavor enhancers, and others) and application (wine industry and food & beverages Industry), across major regions.
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Jun 30, 2023