The Global Tartaric Acid Market
is expected to reach USD 425 million by 2020, according to a new study by Grand
View Research, Inc. Increasing wine consumption in Asia Pacific and Latin
America is expected to remain a key factor driving tartaric acid market growth
over the forecast period. Increasing tartaric acid consumption as anti-oxidant
and taste enhancer in food products is also expected to have a positive impact
on the market growth. Tartaric acid prices witnessed slump during 2009 to 2010
mainly due to economic recession in U.S. and debt crisis in Europe. The prices
recovered there after due to high tartaric acid demand from emerging markets.
Tartaric acid prices are projected to remain stable over the forecast period
which is expected to benefit the market in terms of revenue.
Wine was the largest
application segment and accounted for 33.6% of the total market volume in 2013.
Tartaric acid is widely used in wine applications as a preservative, pH level
reducer and tartness improver. Increasing wine production in China and with
growing per capita consumption in Brazil, China, Italy, Spain and France is
expected to drive tartaric acid demand in wineries. Wine is also expected to
witness the highest growth rate of 5.7% from 2014 to 2020.
In depth research report on Tartaric acid Market
Further key findings from the study suggest:
•
Global tartaric acid market
demand was 60.56 kilo tons in 2013 and is expected to reach 87.18 kilo tons by
2020, growing at a CAGR of 5.3% from 2014 to 2020.
•
Europe emerged as the largest
regional market and accounted for 39.4% of the total market volume in 2013.
High tartaric acid demand for wine production in Italy, France and Spain is
expected to drive the regional market growth over the forecast period.
Increasing tartaric acid penetration in niche applications such as chelating
agents is also expected to further complement the regional market growth.
Anti-dumping duties established by the European Commission for Chinese tartaric
acid imports are anticipated to secure the regional market production scenario.
•
Asia Pacific is expected to
witness the highest growth of 6.8% from 2014 to 2020. Increasing tartaric acid
demand in wine production particularly in China is expected to drive the
regional market. Growth of food & beverages industry in China, India and
Indonesia is also expected to drive the regional market. Increasing awareness
among consumers regarding health benefits offered by anti-oxidants has also
created demand for tartaric acid demand.
•
The global market is moderately
concentrated with top companies competing in terms of product innovation. Major
companies operating in the global tartaric acid market include Caviro
Distillerie SRL, The Chemical Company, Distillerie Bonollo SpA, Distellerie
Mazzari SpA, Tartaros Gonzalo Castello SL, Tarac Technologies, Richman Chemical
Inc., U.S. Chemicals LLC, American Tartaric Products and The Tartaric Chemical
Corp.
For the purpose of this study,
Grand View Research has segmented the tartaric acid market on the basis of
application and region:
Global Tartaric Acid Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2012 - 2020)
•
Food & Beverages
•
Wine
•
Pharmaceuticals
•
Antacids
•
Others
Global Tartaric Acid Regional Outlook (Volume Kilo Tons;
Revenue, USD Million, 2012 - 2020)
•
North America
•
U.S.
•
Canada
•
Europe
•
Asia Pacific
•
Central & South America
•
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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