(Food-Beverage-News.Com, August 19, 2019 ) 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%. Factors such as the growing wine industry due to its increasing consumption, mainly in the Asia Pacific, and South American countries considered in RoW, contribute toward the tartaric acid market growth. Tartaric acid content in wine is the maximum among other beverages, whether alcoholic or non-alcoholic. The increase in government regulations in various countries restricts the use of synthetic tartaric acid in food- and pharmaceutical-grade applications, which in turn restrains the market growth.
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
Geographical Growth Scenario:
Geographically, the global Tartaric Acid Market is divided into North America, Europe , Asia Pacific, Rest of World( South America, Middle East, South Africa). The European region held the largest share in 2016, followed by the North American region, in value terms. This is due to better consumption levels for wine and other food items, where tartaric acid acts as one of the key ingredients. The 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 tartaric acid market is dominated by key players such as 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), and Derivados Vinicos (Argentina).
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