SYNTHETIC TARTARIC ACID MARKET REPORT OVERVIEW
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global synthetic tartaric acid market size was USD 384 million in 2019 and market is projected to touch USD 802.67 Million by 2032, exhibiting a CAGR of 6.5% during the forecast period.
Synthetic tartaric acid, also known as DL-tartaric acid, is a compound that is chemically synthesized from maleic anhydride. Synthetic tartaric acid can be obtained from natural sources like grapes, tamarinds and date palm fruit pits. It has low toxicity level when compared to other acids such as citric acid or acetic acid. The synthetic tartaric acid is used in many industries like agriculture, food, cosmetics and detergents. This chemical is used as a food preservative or antioxidant. It is also an ingredient of some medicines and toothpastes. Furthermore, increased demand for synthetic tartaric acid as an excipient in effervescent tablet, powder, and granulate formulations will propel the synthetic tartaric acid market forward. Moreover, the rising trend of clean label ingredients and the shift towards natural alternatives are likely to drive the demand for synthetic tartaric acid.
Moreover, in drug formulations, increasing demand for synthetic tartaric acid, as an excipient, for the preparation of effervescent tablets, powder and granulates will be a prominent factor driving the growth of the synthetic tartaric acid market. Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.
COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.
LATEST TRENDS
Use Of Innovative Products To Boost The Market Growth
Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.
SYNTHETIC TARTARIC ACID MARKET SEGMENTATION
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- By Type Analysis
According to type, the market can be segmented into grapes & sun-dried raisins, maleic anhydride, others
Grapes & sun-dried raisins will capture the maximum market share through forecast period.
Grapes & sun-dried raisins: This segment refers to natural tartaric acid, which is primarily derived from grapes and their by-products, like sun-dried raisins. Tartaric acid is a key acid found in grapes, making this source crucial for the wine industry and other food applications where the natural form of tartaric acid is preferred.
Maleic anhydride: This segment pertains to synthetic tartaric acid, which is produced from maleic anhydride. The synthetic form is used in various applications where the natural source is not essential or where cost-effectiveness is a priority. This type is significant in industries where the purity and consistency of the acid are crucial.
Others: This category might include other sources or methods of producing tartaric acid, both natural and synthetic. It could encompass innovative production methods or emerging sources that are not as commonly used as grapes or maleic anhydride.
By Application Analysis
According to application, the market can be segmented into wine, food & beverage, pharmaceutical, cosmetics, construction, chemical
Synthetic tartaric acid market players cover segment as wine will dominate the market share during forecast period.
Wine, food & beverage: Tartaric acid is extensively used in the wine industry to adjust acidity, enhancing the taste and stability of wine. In the broader food and beverage sector, it serves as, preservative, and antioxidant in products like soft drinks, confectionery, and baked goods.
Pharmaceutical: In pharmaceuticals, tartaric acid is utilized as an excipient for its chiral properties, helping in the creation of racemic mixtures in active pharmaceutical ingredients (APIs). It also serves as a pH adjuster in various medications.
Cosmetics: Tartaric acid finds applications in cosmetics and personal care products, where it acts as an antioxidant, pH adjuster, and exfoliating agent, contributing to skin health and product stability.
Construction: Although less common, tartaric acid can be used in the construction industry, particularly in gypsum and cement formulations to control setting time and enhance strength.
Chemical: In the chemical industry, tartaric acid is used in the synthesis of other chemicals, as a chiral catalyst, and in various industrial processes requiring organic acids.
DRIVING FACTORS
Growing Demand in the Food and Beverage Industry To Boost The Market Growth
Synthetic tartaric acid is widely used as in food and beverages, enhancing flavour and preserving food. Its demand in the production of carbonated drinks, confectionery, and baked goods is a major driver. Synthetic tartaric acid is used as an emulsifier in the bakery segment, specifically to maintain product quality and extend shelf life.
Technological Advancement and Innovation To Upsurge The Market
Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the synthetic tartaric acid market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. The increasing investments in research and development activities for new applications and formulations of tartaric acid are expected to propel market growth.
RESTRAINING FACTOR
Regulatory & Health Concerns To Hamper The Market Growth
Stringent regulations regarding the use of synthetic additives in food and beverages, along with potential health concerns associated with synthetic ingredients can limit market growth. Technical difficulties will reduce the industry revenue.
SYNTHETIC TARTARIC ACID MARKET REGIONAL INSIGHTS
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The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.
Asia Pacific to Dominate the Region Due To Growth In Wine Production & Expanding Construction & Pharmaceutical Industries
Asia Pacific is further expected to witness growth in the synthetic tartaric acid market share. The region is dominating the market due to growth in wine production and expanding construction and pharmaceutical industries. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.
KEY INDUSTRY PLAYERS
Key Players Focus On Partnerships To Gain Competitive Advantage
The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.
List Of Market Players Profiled
- Alvinesa (Spain)
- Sagar Chemicals (India)
- Caviro Distillerie (Italy)
- Australian Tartaric Products (Australia)
- Tarac Technologies (Australia)
INDUSTRIAL DEVELOPMENT
June 2023: Alvinesa Natural Ingredients has just achieved the highly coveted FSSC22000 certification for food safety management systems.
REPORT COVERAGE
The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 384 Million in 2019 |
Market Size Value By |
US$ 802.67 Million by 2032 |
Growth Rate |
CAGR of 6.5% from 2019 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type And Application |
Frequently Asked Questions
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What value is the synthetic tartaric acid market expected to touch by 2032?
The synthetic tartaric acid market is expected to reach USD 802.67 Million by 2032.
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What CAGR is the synthetic tartaric acid market expected to exhibit by 2032?
The synthetic tartaric acid market is expected to exhibit a CAGR of 6.5% by 2032.
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What are the driving factors of the Market?
Increasing demand in food & beverage industry & technological development and advancement are expected to deliver profitable opportunities for the market.
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What are the synthetic tartaric acid market segments?
The key market segmentation that you should be aware of, which include, Based on type the synthetic tartaric acid market is classified as grapes & sun-dried raisins, maleic anhydride , others . Based on application the synthetic tartaric acid market is classified as wine, food & beverage, pharmaceutical, cosmetics, construction, chemical.
