According to IMARC Group latest report titled” Tartaric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a value of US$ 2.55 Billion in 2020. The global Tartaric Acid Market trends to grow at a CAGR of around 6% during 2021-2026. Tartaric acid refers to a naturally occurring substance found in numerous fruits, such as grapes, apples, bananas, avocados, apricots, tamarinds, etc. It has anti-inflammatory and anti-oxidant properties, which provide benefits to the immune system. Adequate consumption of tartaric acid helps in improving intestinal functions and digestion. Although it is mainly produced from natural raw materials, it can also be manufactured synthetically from maleic anhydride.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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The increasing demand for diverse uses of tartaric acid, particularly in the food and beverage sector, is primarily driving the market growth. It is utilized as an acidulant, anti-caking agent, anti-microbial agent, etc. Tartaric acid also serves as an essential food additive, usually combined with baking soda to act as a leavening agent in recipes to enhance their stability and quantity. Additionally, tartaric acid and its derivates are used in the pharmaceutical sector as excipients for drugs at higher pH levels with poor solubility. Besides this, the elevating product demand for industrial applications, such as the manufacturing of ceramics, textile printing, tanning, etc., will continue to propel the tartaric acid market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Changmao Biochemical Engineering Company Ltd.
- Hangzhou Bioking Chemical Engineering Company Ltd.
- Industrias Vinicas
- Legre Mante
Tartaric Acid Market Segmentation:
Our report has categorized the market based on Region, and end use industry.
Breakup by End Use Industry:
- Food and Beverages
- Non-Food Applications
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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