TARTARIC ACID MARKET ANALYSIS

Tartaric acid is one of the organic acids and is naturally found in grapes, tamarinds, bananas, oranges, and other citrus fruits. Tartaric acid is also manufactured on an industrial scale for a number of applications. On the basis of its chemical structure, it is divided into four types, including mesotartaric acid, dextrotartaric acid, levotartaric acid, and racemic acid. Tartaric acid finds applications in various industries including construction, pharmaceuticals, food applications, and cosmetics. Its salt called potassium bitartrate, which is developed during the winemaking process is called ‘cream of tartar’. It is mixed then mixed with sodium bicarbonate and is sold as baking powder. Moreover, it is one of the most preferred ingredients in the food and beverage industry.

Market Outlook

Global tartaric acid market size was valued at US$ 204.05 million in 2016, and is expected to register a CAGR of 5.75% during the forecast period (2019-2027). Increasing demand for tartaric acid from various industries is expected to boost the market growth in the near future. Tartaric acid finds applications in winemaking, which gives wine its acidic taste. Growing consumption of wine around the globe is expected to increase the demand for tartaric acid and subsequently drive growth of the market. Furthermore, growing population around the world is expected to increase the demand for food and beverages, which is expected to increase the demand for tartaric acid and also support the market growth. Moreover, introduction of technological advancements and increasing number of applications is expected to propel the market growth during the forecast period. Tartaric acid is also used in pharmaceutical industry, especially for manufacturing of cardiotonic and antibiotics. It is also used in production of oral medications. Increasing demand for pharmaceutical products is expected to increase the demand for tartaric acid and hence impel growth of the market during the forecast period.

However, stringent regulations by government authorities of various countries on the use of synthetic tartaric acid are expected to hamper its demand and subsequently restrain the global tartaric acid market growth. Excessive use of synthetic tartaric acid could lead to side-effects such as abdominal pain, vomiting, diarrhea, gastrointestinal inflammation, and increased thirst. Hence, various government authorities are restricting the use of synthetic tartaric acid, which will restrain the market growth.

Market Regional Analysis

Asia Pacific is expected to hold largest market share in global tartaric acid market during the forecast period. This is owing to growing wine market in economic countries such as India and China. The region is expected to have significant demand in the near future. Western Europe remains the largest market for tartaric acid, owing to huge popularity of wine and other packaged food products in the region.

Market Players

Key players operating the global tartaric acid market include Innovate, Caviro, Dastech International, Inc. Tarac Technologies, Noah Technologies Corporation, Thirumalai Chemicals, and Ninghai Organic Chemical Factory.

Key Developments

• In September 2019, Carivo – a leading tartaric acid manufacturer was awarded “100% Green Certification” by Consortium for Energy Resources. The company uses energy from renewable sources and promotes the companies culture of circular economy. The strategic moves to adopt cost-effective renewable energy will drive up the margins for the tartaric acid and alcohol product sales.
• In November 2019, according to a research carried out by University of Adelaide, tartaric acid is an important in the production of all wines – white, red and sparkling to balance the sweetness of the fruit based alcohol. Increasing demand for tartaric acid in food and beverage application is expected to propel the growth of tartaric acid at a global level.
• In December 2016, according to a research paper published by royal society of chemistry, tartaric acid can act as a chiral catalyst which can be further used to biosensors, pharmaceutical, agricultural and food industries. New application development for tartaric acid acts as a major driver in the global tartaric acid market.