Tartaric Acid Market Synopsis:
As per the analysis by Market Research Future (MRFR), the global market for tartaric acid is anticipated to acquire a market value of USD 0.502 Billion while expanding at a CAGR of 5.91% by 2032.
Spain Tartaric Acid Market holds prominence within the European region, driven by the country's renowned wine production and diverse food processing industry. Tartaric acid, naturally occurring in grapes and utilized as an acidity regulator and stabilizer, plays a crucial role in Spain's winemaking process, contributing to wine quality and taste. Additionally, tartaric acid finds applications in various food products such as jams, jellies, and confectionery, where it enhances flavor and texture. With consumers increasingly seeking authentic and natural flavors, tartaric acid emerges as a favored ingredient in Spain's culinary traditions, driving its market growth in the country.
The surging consumption of wine is expected to be a significant factor that can augment Tartaric Acid Market size during the forecast period. The growing tartaric acid consumption is anticipated to grow due to the expansion of the food and beverages sector, along with increasing demand for preservatives and additives, which can drive the industry. Furthermore, the rising popularity of packaged food, a higher standard of living, and the increasing application of the acid as an emulsifier in bread production can develop the market during the forecast period.
On the flip side, the imposition of stringent rules concerning synthetic tartaric acid usage by the various governments is anticipated to hinder the market growth. In addition, the outbreak of COVID-19 has slowed down the operations of several manufacturing companies. However, the rising application of the acid as a pH adjuster in the manufacture of personal care products such as; creams, soaps, and lotions can counter the impeding factor that can boost the market.
Key Players:
Some of the Key Tartaric Acid Market Players are ATP Group (U.S.), Caviro Group (Italy), Merck KGaA (Germany), Changmao Biochemical Engineering (China), Omkar Specialty Chemicals (India), Tarac Technologies (Australia), Distillerie Bonollo (Italy), PAHI, S.L. (Spain), The Chemical Company (U.S.), Henriette's Herbal (Finland), U.S. Chemicals LLC (U.S.), and Australian Tartaric Products (Australia)
Market Segmentation:
The segmental analysis of the global Tartaric Acid Market is done by source, type, and application.
The source-based segments of the global market for tartaric acid are tamarind, grapes, and maleic anhydride, others.
The type-based segments of the global market for tartaric acid are natural and synthetic.
The application-based segments of the global market for tartaric acid are pharmaceuticals & nutraceuticals, food & beverages, cosmetics & personal care, and others. Food & beverages segment is sub-segmented into bakery & confectionery, beverages, sweet & savory snacks, sauces, soups, and dressings.
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