This research report presents a comprehensive segmentation of the global tartaric acid market by application (beverages, confectionery and food, meat processing, textiles, and detergents) and by geography (APAC, Europe, Central and South America, North America, and ROW). The leading companies in the market are Anhui Sealong, Bartek, Changmao Biochemical, FUSO, Polynt, Thirumalai Chemicals, and Yongsan Chemicals.
Technavio’s market research analysts estimate the global tartaric acid market to grow at a CAGR of 6% between 2015 and 2019. The growth of the food and beverages industry due to the rising demand for packaged food is driving the growth of this market. The rise in disposable income coupled with the growing middle-class population in the BRIC countries is also contributing to the growth of this market. APAC leads the global market for tartaric acid, accounting for 45% of the overall market revenue. The health benefits associated with tartaric acid and rise in disposable income of consumers in the region are encouraging them to consume tartaric acid products. China is the largest consumer of tartaric acid products in this region.
The new market research report from Technavio provides a breakdown and analysis of the tartaric acid segments by technology.
“Consumers prefer tartaric acid, owing to its natural composition such as natural nutrients, and natural food additives. Consumers perceive natural food ingredients to be safer and healthier than synthetic food or substitutes. Thus, increasing inclination towards natural food additives is expected to have a positive influence on the production and consumption of tartaric acid, thereby leading to new and innovative products being launched in the market,” says Debasish Nayak, Lead Analyst, Chemicals & Materials, Technavio Research.
The beverages segment dominated the global tartaric acid market during 2014. The research report estimates this segment to grow at a moderate rate of 4% during the forecast period. Tartaric acid is used in carbonated beverages to enhance the flavor. It is significantly used in powdered mixes in sports drinks and dry soup mixes due to its fast dissolution rate and flavor enhancement abilities.
The key players in the global tartaric acid market include Anhui Sealong, Bartek, Changmao Biochemical, FUSO, Polynt, Thirumalai Chemicals, and Yongsan Chemicals. The market is highly competitive due to the entry of private providers into the market. This market is predicted to witness an increased number or mergers and R&D during the forecast period.
A more detailed analysis is available in the Technavio report, Global Tartaric Acid Market 2015-2019.
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