Product ID: SQMIG15E2286
Global Tartaric Acid Market Size, Share, Growth Analysis, By Source(Natural, synthetic), By type(Monod tartaric acid, Di tartaric acid and others), By Application(Food and beverage, pharmaceutical) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2286 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
90 |
Figures:
72
Global Tartaric Acid Market Insights
Tartaric Acid Market size was valued at USD 351.42 Billion in 2021 and is poised to grow from USD 372.66 billion in 2022 to USD 629.35 billion by 2030, at a CAGR of 6.01% during the forecast period (2023-2030).
Tartaric Acid is becoming popular since Its Advantages make it a valuable ingredient in various industries. Tartaric acid has a variety of applications in various industries such as the food and beverage industry, the pharmaceutical industry, and the cosmetic industry. Tartaric acid is a natural food ingredient that serves as a flavor enhancer and preservative in the food and beverage industry. Its acidic properties make it useful in the production of various food and beverage products. One of the most common uses of tartaric acid is in wine production, where it helps to balance the flavor by giving it a tart taste. It is also added to other beverages like carbonated drinks and fruit juices to improve their flavor and taste. Moreover, tartaric acid acts as a preservative by inhibiting the growth of harmful bacteria, fungi, and yeasts in food products. This property makes it an ideal ingredient for use in bakery and confectionery products such as cakes, bread, and candies. Tartaric acid is also used in the production of some dairy products like sour cream and cheese to help them maintain their texture and taste for a longer period.
In the pharmaceutical industry, tartaric acid is utilized as an excipient for a variety of purposes. One of the most common uses is to adjust the pH of medications, which is necessary for proper drug delivery and absorption. Additionally, it is used to enhance the stability of medications by preventing degradation and extending their shelf life. Furthermore, tartaric acid is employed as a chelating agent, which means it has the ability to bind to metal ions. This property is utilized in pharmaceuticals to improve the bioavailability of certain drugs, such as antibiotics, by allowing them to be better absorbed by the body. This chelating property is also utilized in the production of contrast agents used in medical imaging procedures such as MRI.
Moreover it is used in the metal plating industry, where it is used as a chelating agent to remove metal ions and improve plating quality. In the leather industry, tartaric acid is used in tanning processes to facilitate the binding of tanning agents to the animal hides, thereby improving the quality of the leather produced. Additionally, it is used in the manufacturing of electronics, where it plays a role in the production of semiconductor materials.
US Tartaric Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Tartaric Acid Market Segmental Analysis
Global Tartaric Acid market is segmented based on Source, type, application, and region. By Source, the market is segmented into Natural, synthetic, and others. By type, the market is segmented into Monod tartaric acid, Di Tartaric acid, and others. By Application, the market is segmented into Food and beverage, pharmaceutical, Cosmetics, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Tartaric Acid Market Analysis by Application
Tartaric acid has numerous applications in different industries, with the food and beverage industry being the largest segment. In this industry, tartaric acid is used as an acidulant, flavor enhancer, and preservative. It is a versatile ingredient that finds extensive use in the production of various products such as fruit juices, wine, carbonated drinks, confectionery, bakery, and dairy products. Tartaric acid is also a key component of food additives such as cream of tartar, which is commonly used as a leavening agent in baked goods.
While the food and beverage industry is the largest segment in the tartaric acid market, the cosmetic industry is the fastest-growing application segment. Tartaric acid is used as an ingredient in cosmetics and personal care products, where it acts as a pH adjuster and chelating agent to enhance the stability of the product. The increasing demand for natural and organic cosmetics is a significant driver of growth in this segment, as tartaric acid is a natural and plant-based ingredient that aligns with this trend.
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Global Tartaric Acid Market Regional Insights
In the tartaric acid market, Europe has been a dominant region in the past and is expected to maintain its dominance in the forecast period. The reason behind this dominance is the region's high consumption of wine and other alcoholic beverages, which is a significant application segment for tartaric acid. Furthermore, Europe's dominance is reinforced by the presence of major tartaric acid manufacturers in the region.
On the other hand, the Asia Pacific region is emerging as the fastest-growing region in the tartaric acid market. The growth is mainly driven by the increasing demand for processed foods, beverages, and pharmaceuticals in the region. The region's growing population, urbanization, and changing lifestyles are also contributing to the market's growth. Additionally, the rising awareness of the benefits of natural and organic products is further fueling the demand for tartaric acid as a natural and plant-based ingredient.
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Global Tartaric Acid Market Dynamics
Tartaric Acid Market Drivers
Increasing Demand for Natural Products to Bolster Market Growth
- The tartaric acid market is being propelled by the rising demand for natural and organic products. Being a natural and plant-based ingredient, tartaric acid is a perfect fit for meeting this growing demand. Furthermore, the increasing awareness among consumers about the potential health hazards associated with synthetic ingredients is leading to a surge in demand for natural alternatives such as tartaric acid. Consumers are becoming more cautious and vigilant about the products they consume, and they are willing to pay a premium price for natural and organic products that they perceive as healthier and safer. This shift in consumer preferences has led to a growing demand for natural ingredients, which is driving the growth of the tartaric acid market.
Tartaric Acid Market Restraints
Fluctuating Prices of Raw Materials to Hinder Market Growth
- Tartaric acid market can be affected by fluctuations in raw material prices. Since tartaric acid is derived from natural sources such as grapes and tamarind, the availability and demand of these sources can vary. This unpredictability can lead to unstable price changes, making it challenging for manufacturers to plan their production costs. As a result, this can act as a restraint for the tartaric acid market.
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Global Tartaric Acid Market Competitive Landscape
The tartaric acid market is a highly competitive industry with several key players. These players are striving to develop new products and expand their product portfolios to maintain a competitive edge. Additionally, they are investing in research and development activities to stay ahead of the competition. To strengthen their position in the market, the key players are adopting various strategies such as mergers, acquisitions, partnerships, collaborations, and joint ventures. They are also investing in expanding their production capacities and distribution networks to increase their market reach. Quality standards and regulatory requirements are also given utmost importance by the market players to ensure consumer safety. They are investing in sustainable and eco-friendly production methods to meet the growing demand for natural and environmentally friendly products. Moreover, the market players are closely monitoring emerging market trends and consumer preferences to stay competitive in the market. The increasing demand for natural and organic products and growing awareness of the potential health risks associated with synthetic ingredients are some of the trends that are being closely monitored by the market players.
Tartaric Acid Market Top Player’s Company Profiles
- American Tartaric Products
- Merck KGaA
- Changmao Biochemical Engineering
- Omkar Speciality Chemicals
- Vinicas Inc.
- Derivados Vinicos S.A.
- Winequip
- The Tartaric Chemicals Corporation
- Industrias Vinicas, S.A.
- Tartratechnology
- ATP Group
- Yancheng Hongtai Bioengineering
- Lallemand.
Tartaric Acid Market Recent Developments
- In March 2023, SPI Pharma, Inc. (SPI), a prominent provider of customized solutions to the pharmaceutical sector, has announced that it has been granted exclusive distribution rights for CELLETS® MCC pellets and TAP® tartaric acid pellets by ingredient pharm. Moreover, SPI Pharma has also obtained exclusive distribution rights for directly compressible Ibuprofen DC100. The distribution agreement covers North America, Latin America, New Zealand, and Australia. In these regions, SPI Pharma intends to market the MCC pellets as ACTILLETSTM MCC pellets..
Global Tartaric Acid Key Market Trends
- Tartaric acid derivatives, including di-potassium tartrate (also known as cream of tartar) and calcium tartrate, are gaining popularity in various industries, including food, pharmaceutical, and personal care. These derivatives are finding increasing applications as food additives, acid regulators, and preservatives, among other uses. As a result, the demand for tartaric acid is growing, driving the overall growth of the tartaric acid market. With the increasing demand for natural ingredients in consumer products, tartaric acid derivatives are becoming more attractive as they are derived from natural sources such as grapes and citrus fruits. Additionally, these derivatives offer unique functional properties, such as stabilizing emulsions and improving texture, which are highly valued in the food and personal care industries. Therefore, the rising popularity of tartaric acid derivatives is a key trend in the tartaric acid market, with significant implications for the future growth and development of this industry.
Global Tartaric Acid Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
After conducting a thorough analysis of the global Tartaric Acid market, we have identified numerous advantages that are expected to lead to significant growth during the forecast period. Tartaric acid is a versatile ingredient that has various applications in different industries, including food and beverage, pharmaceutical, and cosmetic industries, making it a growing market. Additionally, as a natural and plant-based ingredient, it is well-suited to meet the increasing demand for natural alternatives to synthetic ingredients that consumers are seeking. The rising consumer awareness of the potential health hazards associated with synthetic ingredients has resulted in a surge in demand for natural alternatives such as tartaric acid.
However, the availability and demand of the natural sources from which tartaric acid is derived, such as grapes and tamarind, can vary, leading to fluctuations in raw material prices. This unpredictability can make it challenging for manufacturers to plan their production costs, affecting the overall stability of the tartaric acid market. Despite this challenge, we expect the demand for natural ingredients to continue to drive growth in the tartaric acid market in the coming years. As a result, companies in this market will need to stay vigilant and adapt to changing market conditions to maintain a competitive edge.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 351.42 Billion |
| Market size value in 2031 | USD 629.35 billion |
| Growth Rate | 6.01% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Tartaric Acid Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Tartaric Acid Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Tartaric Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Tartaric Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Tartaric Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Tartaric Acid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Tartaric Acid Market Report Snapshots
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