Tartaric Acid Market by Application and by Geography: Opportunity Analysis and Industry Forecast, 2020–2024 | Technavio
The global tartaric acid market size is expected to grow by USD 96.03 million during 2020-2024, progressing at a CAGR of over 5% during the forecast period.
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Technavio has announced its latest market research report titled Global Tartaric Acid Market 2020-2024 (Graphic: Business Wire)
The growing demand from the wine industry is one of the major factors propelling market growth. However, factors such as substitutes for tartaric acid will hamper the market growth.
Tartaric acid is used in the wine industry to reduce the pH value and provide tartness. Tartaric acid helps to control the acidity of the wine and is considered as one of the strongest acids in wine. It also plays a crucial role in enhancing the taste, feel, and color of wines. It also reduces the pH to kill the undesirable bacteria, thereby acting as a preservative. With increasing wine production in several markets such as France, Spain, Italy, the US, and China, the demand for tartaric acid will also rise substantially, thereby driving the tartaric acid market growth.
More details: www.technavio.com/report/tartaric-acid-market-industry-analysis
Global Tartaric Acid Market: Application Segment
Tartaric acid is commonly used in the winemaking process to maintain the color, taste, and chemical stability of the finished product. The rise in per-capita disposable income has led to the high consumption of wine. Levorotatory tartaric acid acts as a preservative and prevents microbial and fungal growth in wine. It also improves the tartness and reduces the pH level of the wine. An increase in wine production in Spain, Italy, and France is expected to boost the growth of the market during the forecast period. Market growth in this segment will be slower than the growth of the market in the pharmaceuticals and others segment.
Global Tartaric Acid Market: Geographic Landscape
APAC was the largest tartaric acid market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the rise in consumer expenditure toward hair and skincare products, improvements in living standards, and growing consumer awareness for nutrient-rich food will significantly drive tartaric acid market growth in this region over the forecast period. 38% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for tartaric acid in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Companies Covered
- BRENNTAG AG
- Derivados Vínicos SA
- Distillerie Bonollo Spa
- Distillerie Mazzari Spa
- Giovanni Randi Spa
- Gruppo Caviro
- Ningbo Jinzhan Biotechnology Co. Ltd.
- PAHI SL
- Tarac Technologies Pty. Ltd.
- Tártaros Gonzalo Castelló SL
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, till 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Tartaric Acid Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in tartaric acid market growth during the next five years
- Estimation of the tartaric acid market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the tartaric acid market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the tartaric acid market, vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Wine - Market size and forecast 2019-2024
- Food and beverages - Market size and forecast 2019-2024
- Pharmaceuticals - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- BRENNTAG AG
- Derivados Vínicos SA
- Distillerie Bonollo Spa
- Distillerie Mazzari Spa
- Giovanni Randi Spa
- Gruppo Caviro
- Ningbo Jinzhan Biotechnology Co. Ltd.
- PAHI SL
- Tarac Technologies Pty. Ltd.
- Tártaros Gonzalo Castelló SL
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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