Dublin, Dec. 29, 2022 (GLOBE NEWSWIRE) -- The "Global Tartaric Acid Market Size, Share & Trends Analysis Report by Source (Grapes & Sun-dried Raisins, Maleic Anhydride), by Application (Food, Beverages), by Region, and Segment Forecasts, 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The global tartaric acid market size is expected to reach USD 468.15 million by 2026, as per this new report. It is expected to expand at a CAGR of 6.0% from 2022 to 2026.
Companies Mentioned
- Distillerie Mazzari S.p.A.
- Comercial Quimica Sarasa S.L.
- Alvinesa
- Tartaros Gonzalo Castello, SL
- Industria Chimica Valenzana S.P.A.
- Thirumalai Chemicals Ltd.
- Distillerie Bonollo
- Legre-Mante S.A.
- THE CHEMICAL COMPANY
- Henriette's Herbal
The industry growth is majorly attributed to the rapid growth of the food, wine, and beverage industries and an increase in the population. Tartaric acid is a type of organic acid that is abundantly found in grapes in its natural form. It is synthetically produced from Maleic anhydride owing to its structural similarities. The product is used in several end-use applications including food, beverages, pharmaceutical, cosmetics and personal care, animal feed, construction, and metal cleaning.
Raw materials used to manufacture the product using the natural route are fruits, especially grapes, while raw materials used in the synthetic route include maleic acid and hydrogen peroxide. The manufacturers of the product have established supply agreements with raw material suppliers to ensure uninterrupted availability of raw materials at competitive prices, in order to smoothen production operations.
Tartaric acid is widely used in the wine industry for improving taste, reducing pH, and as a preservative in wine. Factors such as the increasing disposable income of consumers and the growing acceptance of wine among the young population have boosted global wine consumption. Additionally, increasing wine production in major markets, such as Italy, France, Spain, and the U.S., has further fueled the growth of the wine industry.
The product is extensively used in functional foods, nucleotides, and energy drinks on account of its anti-oxidant and inflammatory properties. Increasing awareness regarding the health benefits of anti-oxidants and growing consumer preference for a healthy diet across the world are expected to have a favorable impact on the demand for tartaric acid during the forecast period.
The major end-use industries of the product are food, beverages, and pharmaceuticals, which were less severely impacted by the COVID-19 pandemic as they are classified under essential services.
This had a positive effect on the demand for tartaric acid as these industries were operational to some extent despite the lockdown. With the situation returning to normal by the end of 2021, the product witnessed an increase in demand from other industries, thereby normalizing the market.
| Report Attribute | Details |
| No. of Pages | 169 |
| Forecast Period | 2022 - 2026 |
| Estimated Market Value (USD) in 2022 | $371.51 Million |
| Forecasted Market Value (USD) by 2026 | $468.15 Million |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Tartaric Acid Market Report Highlights
- Europe captured the largest revenue share of over 35.0% in 2021. This is owing to the presence of a large number of wineries in the region
- The maleic anhydride source segment held the largest revenue share of over 55.0% in 2021. This is owing to the high demand for cost-effective synthetic tartaric acid, which is manufactured utilizing maleic anhydride
- The beverages application segment held the largest revenue share of over 40.0% in 2021. This is attributed to the high demand from the wine industry
- The market is consolidated with a few yet large players that are operating globally. It is a well-established market with a developed value chain. The players are involved in increasing their geographical reach to gain a competitive edge and enter the untapped markets
- Companies such as Thirumalai Chemicals have integrated through the value chain from production and supply of raw material maleic acid to tartaric acid production. This enables the company to cater to a wide range of application markets
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Tartaric Acid Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping, 2017-2026
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Procurement Analysis
3.3.2 Manufacturing Trends
3.3.3 Sales Channel Analysis
3.3.4 Cost Structure Analysis
3.3.4.1 Capex
3.3.4.2 Opex
3.4 Price Trend Analysis, 2017-2026
3.4.1 Factors influencing prices
3.5 Regulatory Framework
3.6 Impact of the COVID-19 Pandemic
3.7 Impact of European Geopolitical Conflict
3.8 Market Dynamics
3.8.1 Market Driver Impact Analysis
3.8.1.1 increasing wine consumption
3.8.1.2 growing food and beverage industry
3.8.2 Market Restraint Impact Analysis
3.8.2.1 stringent food safety regulations
3.8.3 Industry Challenges
3.8.4 Market Opportunities Analysis
3.9 SWOT Analysis
3.10 Industry Analysis Tools
3.10.1 Porter's Analysis
3.10.2 Macroeconomic Analysis
Chapter 4 Tartaric Acid Market: Source Estimates & Trend Analysis
4.1 Source movement analysis & market share, 2021 & 2026 (%)
4.2 Tartaric acid market size & forecasts and trend analysis by source, 2017-2026 (Kilotons) (USD Million)
4.2.1 Grapes & Sun Dried Raisins
4.2.1.1 Tartaric Acid Market Estimates and Forecasts, by Grapes & Sun Dried Raisins, 2017-2026 (Kilotons) (USD Million)
4.2.2 Maleic Anhydride
4.2.2.1 Tartaric Acid Market Estimates and Forecasts, by Maleic Anhydride, 2017-2026 (Kilotons) (USD Million)
4.2.3 Others (apricots, tamarind, bananas, apples)
4.2.3.1 Tartaric Acid Market Estimates and Forecasts, by Others, 2017-2026 (Kilotons) (USD Million)
Chapter 5 Tartaric Acid Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2021 & 2026, (Kilotons) (USD Million)
5.2 Tartaric Acid Market Size & Forecasts and Trend Analysis, By Application, 2017-2026 (Kilotons) (USD Million)
5.2.1 Food
5.2.1.1 Tartaric Acid Market Volume Estimates and Forecast, By Application, in Food, 2017-2026 (Kilotons) (USD Million)
5.2.2 Beverages
5.2.2.1 Tartaric Acid Market Volume Estimates and Forecast, By Application, in Beverages, 2017-2026 (Kilotons) (USD Million)
5.2.3 Pharmaceuticals
5.2.3.1 Tartaric Acid Market Volume Estimates and Forecast, By Application, in Pharmaceuticals, 2017-2026 (Kilotons) (USD Million)
5.2.4 Cosmetics & Personal Care
5.2.4.1 Tartaric Acid Market Volume Estimates and Forecast, By Application, in Cosmetics & Personal Care, 2017-2026 (Kilotons) (USD Million)
5.2.5 Animal Feed
5.2.5.1 Tartaric Acid Market Volume Estimates and Forecast, By Application, in Animal Feed, 2017-2026 (Kilotons) (USD Million)
5.2.6 Construction
5.2.6.1 Tartaric Acid Market Volume Estimates and Forecast, By Application, in Construction, 2017-2026 (Kilotons) (USD Million)
5.2.7 Metal Cleaning
5.2.7.1 Tartaric Acid Market Volume Estimates and Forecast, By Application, in Metal Cleaning, 2017-2026 (Kilotons) (USD Million)
5.2.8 Others
5.2.8.1 Tartaric Acid Market Volume Estimates and Forecast, By Application, in Others, 2017-2026 (Kilotons) (USD Million)
Chapter 6 Tartaric acid Market: Regional Estimates & Trend Analysis
Chapter 7 Competitive Landscape
7.1 Recent Developments & Impact Analysis, By Key Market Participants
7.2 Competitive Structure
7.3 Vendor Landscape
7.3.1 List of Key manufacturers
7.3.2 List of key Distributors and Channel Partners
7.3.3 List of Potential End-Users
7.4 Company Market Positioning
Chapter 8 Tartaric Acid Market- Company Profile
For more information about this report visit https://www.researchandmarkets.com/r/arwpvo
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