highly prefer. The tartaric acid demand for food & beverage, construction, FMCG, and pharmaceutical, end-use applications is predicted to rise at a noteworthy growth rate and would drive the market additionally over the projected period. The global consumption of wine was 24 billion liters by the end of 2015 and anticipated to increase over a CAGR of more than 3% till 2018. The increasing wine consumption is significantly favoring the growth of the tartaric acid demand, which in turn drives the global market. U.S. Tartaric Acid Market Size, by Type, 2013 – 2024 (USD Million) Browse key industry insights spread across 170 pages with 192 market data tables & 26 figures & charts from the report, “Tartaric Acid Market in detail along with the table of contents: https://www.gminsights.com/industry-analysis/tartaric-acid-market Tartaric Acid Industry By Type Fluctuations in the availability of natural tartaric acid is leading to high variations in their prices, which is a significant restraint to the natural tartaric acid market growth. Moreover, the market growth is additionally restricted by the growing demand for citric acid, which acts as a substitute to tartaric acid for acidulate applications. Also, there are stringent restrictions regarding the synthetic tartaric acid use in food & beverage, wine, and pharmaceutical applications, and this might further restrain the synthetic tartaric acid market growth globally over the estimated period.
The natural tartaric acid segment is projected to be the fastest-growing during the projected period, due to its wide range of applications such as food & beverages, wine, pharmaceutical, which further results in an exponential rise in both product consumption and manufacturing. Tartaric Acid Industry By Application The wine application segment dominated the overall market in 2016. It is also anticipated to increase over a highest CAGR during the anticipated period, followed by FMCG application segment. The tartaric acid for producing wine is expected to increase at 4% CAGR, due to the increasing wine consumption across both developed and developing economies. Rising demand from food & beverage applications is predicted to rise over a reasonable CAGR, due to the growing demand for processed food products, and nutritional beverages in the developing economies of both Asia Pacific, and Europe, such as China, Japan, Australia, and France, Spain, and Italy respectively. Tartaric Acid Industry By Region The Europe tartaric acid market constituted a significant market share by the end of 2016 and would grow at a similar pattern till 2024. Increasing wine production operations in countries like France, Italy, and Spain will majorly boost the Europe regional market in the projected timeframe. Asia Pacific market is the second-largest market, which is primarily driven by Japan, India, and China. Growing product consumption in manufacturing FMCG products, coupled with the growing product consumption in construction chemicals is anticipated to boost the regional market of Asia Pacific till 2024. Competitive Tartaric Acid Industry Share Prominent players in the tartaric acid industry are Distillerie Mazzari, Caviro, Changmao Biochemical Engineering, Tarac Technologies, ALVINESA ALCOHOLERA VINICOLA S.A., Omkar Speciality Chemicals Ltd, PAHI, S.L., Merck KGaA, Tártaros Gonzalo Castelló, Derivados Vinicos, Vinicas, and Distillerie Mazzari among some others.