Tartaric Acid Market Size to Worth USD 387.7 Million by 2028 | High Demand in the Food and Beverage Industry
Reports And Data
Tartaric Acid Market Size - USD 254.8 Million in 2020, Growth at a CAGR of 5.30%, Trends – Rising applications & research for alternatives
NEW YORK CITY, NEW YORK, UNITED STATES, May 17, 2022 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the Tartaric acid market globally was valued at USD 254.8 Million in 2020 and is expected to reach USD 387.7 Million by the year 2028, at a CAGR of 5.30%. The reason for the growth of the market for tartaric acid is the different uses of it as a component used for producing or manufacturing. This acid is found in most plants. It is used as raw material for the synthesis of as many chemical laboratories. The baking soda, i.e., sodium bicarbonate is another application for tartaric acid, which is used in many applications. The cosmetics and personal care products also find applications of this acid. The Pharmaceutical industry finds the application of tartaric acid to improve the taste of the medicines. The tartaric acid is also used as in cough syrups.
The tartaric acid finds most of the applications in the field of food & beverages and as a food additive. The food & beverage industry is growing continuously due to significant demand from population and high growth of population. When sour taste is desired in food, tartaric acid can be added. It is used as an antioxidant. Tartarates is the name given to the salts of tartaric acid.
Medicines that are prepared from tartaric acid, which has numerous applications in Pharmaceutical companies. This acid is used to manufacture antibiotics and cardiotonic as an inactive substance. To improve the taste of medicine, tartaric acid is added. For the manufacturing of construction materials, Tartaric acid is used, which is also used in the process of building materials where it acts as a retarding agent to delay setting such as cement and gypsum board. Industrial and manufacturing have tremendous usage of this acid, and its derivatives include leather tanning, mirror silvering, ceramics, photography, and blueprinting.
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Top Companies Profiled in the Report: Distellere Mazzari SpA, Caviro Group, ATP Group, Commercial Quimica Sarasa SL, Tartaros Gonazalo Castello TGC, Tarac Technologies, Merck, Distillerie Bonollo, Alcolera Vinicola S.A., Legre Mante S.A.
Further key findings from the report suggest
The tartaric acid market is growing at a CAGR of 0% in the Asia Pacific, followed by Europe & North America, 5.7 % and 5.6% CAGR, respectively. High usage of this acid across the globe is the key factor to accelerate the market growth during forecast period across all regions
As of 2018, Food & Beverages application segment is the dominating tartaric acid application which holds 29% of the global market. Europe market is the chief revenue-generating source for this product segment, followed by North America and Asia-Pacific regions
Natural type is expected to be the fastest-growing market segment during the forecast period 2020-2028 with a CAGR of 6.0%. However, associated costs are a significant challenge for the market growth of this market segment
Other applications segment (that includes, Cosmetics, Construction industry, Agriculture Industry) was valued at USD 36.3 Million and is expected to reach USD 53.59 Million by 2026
Europe is expected to account for 34% of the global tartaric acid market. The rising wine industry and demand for wine will help to witness high growth
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Type (Revenue in USD Million; Volume in Tons, 2018–2028)
Natural
Synthetic
Applications (Revenue in USD Million; Volume in Tons, 2018–2028)
Food & Beverages
Wine
Pharmaceuticals
Textile
Other Applications
Sources (Revenue in USD Million; Volume in Tons, 2018–2028)
Plants
Fruits
Others
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Plastic Fasteners market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Plastic Fasteners market.
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The global Plastic Fasteners market is segmented into:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
What are the dominating factors that are influencing the growth of the industry?
In the forecast period, which market segment is expected to rise the most?
What are the risks and challenges that the industry is facing?
In the coming years, which area is projected to dominate the market?
Who are the major players in the market? What kind of strategic business plans have they made?
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