Tartaric Acid Market is projected to present a 5.91% CAGR to reach USD 430.87 million by 2030
Tartaric Acid Market Scenario
The global Tartaric Acid Market is expected to garner a revenue of USD 430.87 million in 2030 and is expected to register a CAGR of 5.91% during the forecast period of 2020–2030. Tartaric acid is naturally extracted from various plants and fruits such as grapes, oranges, bananas, and most importantly, from tamarinds. Tartaric acids are mixed with baking soda to act as a leavening agent in different culinary recipes. Apart from natural sources, tartaric acid is manufactured on an industrial scale for various applications. Tartaric acid extracts are used in winemaking; it acts as buffers to regulate antioxidants, acidity, and as preservatives; in other food items, it acts as natural flavor enhancers and food emulsifiers. Furthermore, in the pharmaceutical industry, tartaric acid is used as cores to provide coatings in the manufacturing of capsules and pellets. It aids in providing better accuracy and consistency to drug layering and coating. Additionally, tartaric acid acts as a skin coolant and also as an effective cleansing agent. Thus, it is used as a pH adjuster in various personal care products such as soaps, creams, and lotions. Thus, the growth of these industries across the globe is expected to boost the demand for tartaric acid.
The global tartaric acid market has been segmented based on type, source, application, and region. By type, the global tartaric acid market has been classified as natural and synthetic. On the basis of source, the global tartaric acid market is been segregated as grapes, tamarind, maleic anhydride, and others. Based on application, the global tartaric acid market has been segregated into, food & beverages, pharmaceuticals & nutraceuticals, cosmetics & personal care, and others. Food & beverages segment is further segregated into beverages; bakery & confectionary; sweet & savory snacks; soups, sauces, and dressings. The global tartaric acid market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North American tartaric acid market has further been segmented into the US, Canada, and Mexico. The European tartaric acid market has been classified as the UK, Germany, France, Italy, and the rest of Europe. The tartaric acid market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The tartaric acid market in the rest of the world has been segmented into Latin America, the Middle East, and Africa.
Caviro Group (Italy), ATP Group (US), Merck KGaA (Germany), Omkar Specialty Chemicals (India), Changmao Biochemical Engineering (China), Tarac Technologies (Australia), PAHI, S.L. (Spain), Distillerie Bonollo (Italy), The Chemical Company (US), U.S. Chemicals LLC (US), Henriette's Herbal (Finland), Australian Tartaric Products (Australia), Industria Chimica Valenzana SpA (Italy), Tartaros Gonzalo Castello TGC (Spain), and Comercial Quimica Sarasa SL (Spain) are some of the key players in the global tartaric acid market.
Regional Market Summary Global Tartaric Acid Market Share (%), by Region, 2018 Source:
Secondary Sources and MRFR Analysis In 2018, the tartaric acid market in Europe garnered the largest revenue share owing to the high demand for tartaric acid in various food products to improve its flavor. The UK and Germany are the major country-level markets contributing to the growth of North America tartaric acid market. However, Asia-Pacific is expected to register the highest CAGR during the forecast period 2019–2024 due to the increasing expansion of market players in the region and growth of application industries in Asia-Pacific.
Global Tartaric Acid Market, by Type
Global Tartaric Acid Market, by Source
Global Tartaric Acid Market, by Application
Global Tartaric Acid Market, by Region