With the emergence and long-term Impact of COVID-19, Global Tartaric Acid Market to reach USD xx Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Tartaric Acid Market points towards a potential rise to USD xx Billion by 2030. Tartaric acid is a strong dicarboxylic acid of plant origin. It is a naturally occurring white, crystalline organic acid found in a variety of fruits, including grapes, tamarinds, citrus, and others. Wine lees can be used to purify tartaric acid, a chemical molecule that naturally exists in a variety of plants. It is the second most prevalent non-volatile acid in grapes after acetic acid in terms of concentration. Citric and malic acids are the other two main acids that can be detected in wine. The drivers that are boosting the market growth is increasing demand from Cosmetics Industry, growing awareness of people towards Clean Label & Natural Products and the demand of tartaric acid in producing wine.
Geographically, the global Tartaric Acid market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 with largest market share attributing to growing demand of tartaric acid as an acidifier for processed food products, well-established food and beverage industry and technological advancements with product innovations in the tartaric acid industry. However, Asia Pacific is expected to be the fastest growing region during the forecast period, owing to the large population. The region’s market is expected to be driven by an exponential rise in demand from the food and beverage industry as a result of rising population and consumer spending.
The global Tartaric Acid market is highly competitive owing to the presence of several key manufacturers such as ATPGroup, Anhui Hailan Bio-technology Co., Ltd, Changmao Biochemical Engineering Company Limited, Giovanni Randi SpA, Dastech International Inc, Distillerie Mazzari, Ningbo Jinzhan Biotechnology Co., Ltd, The Tartaric Chemicals Corporation, Tarac Technologies, Omkar Speciality Chemicals Ltd, and others.
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Key findings of the study suggest:
- Global Tartaric Acid Market is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2023-2030.
- In End-User Industry segment, Food & Beverage emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to increasing demand of processed food products in the region.
- Asia Pacific is also expected to grow at higher rate during 2023-2030 owing to rise in demand from the food and beverage industry due to increasing population in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- Natural Tartaric Acid
- Synthetic Tartaric Acid
By Application:
- Preservative & Additive
- Laxative
- Intermediate
- Other Applications
By End-User Industry:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Construction
- Other End-User Industries
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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