Tartaric acid also called as dihydroxybutanedioic acid, is an organic acid appears in crystalline form at room temperature. Major factor driving growth of the global tartaric acid market is increasing use of tartaric acid for various industrial applications. However, stringent government regulations against use of synthetic tartaric acid is a factor that could affect growth of the target market.
The global tartaric acid market has been segmented on the basis of source, type, application, and region. On the basis of source, the market is segmented into maleic anhydride, grapes and sun-dried raisins, and others. On the basis of type, the market is segmented into synthetic and natural. The natural segment is expected to register highest growth in terms of revenue in the next few years, owing to increasing demand for tartaric acid from wine, and food and beverages industries.
On the basis of application, the market is segmented into personal care products, pharmaceuticals, food and beverage, and others. The food and beverages segment is expected to account for major share in terms of revenue over the forecast period, owing to growing processed food industry. In terms of revenue, pharmaceuticals segment is anticipated to register significant growth in the near future.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, market in Europe dominates in the global market in terms of revenue, owing to presence of large number of wine production companies. Additionally, increasing demand for tartaric acid in food industry is another factor expected to propel growth of the target market in Europe region. Market in Asia Pacific is expected to witness fastest growth in terms of revenue in the near future, owing to rising demand for processed food products among individuals.
Key players operating in the global tartaric acid market include Caviro Group, ATP Group Ltd., Merck & Co., Inc., Omkar Speciality Chemicals Limited, Changmao Biochemical Engineering Company Limited, Tarac Technologies Pty Ltd, Distillerie Mazzari SpA, Distillerie Bonollo S.p.A., Vinous derivatives S.A, and Tartaros Gonzalo Castello S.L.