TARTARIC ACID MARKET ANALYSIS

Tartaric Acid MarketSize and Trends

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.