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.
Browse full
research report on tartaric acid market: http://www.grandviewresearch.com/industry-analysis/tartaric-acid-market
Further key
findings from the report 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.
Browse more
reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
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
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-tartaric-acid-market
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, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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