The market research analyst predicts the global tartaric acid market to grow at a moderate rate of around 4% during the forecast period. 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.
The health benefits associated with tartaric acid is also expected to drive the market growth during the forecast period. It stimulates metabolism and upsurges energy production in the body. Tartaric acid also helps in increasing collagen production and reduces aging of the skin.
Segmentation by application and analysis of the tartaric acid market
- Confectionery and food
- Others (meat processing, textiles, detergents, building materials, pharmaceutical ingredients, frozen food)
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.
Geographical segmentation and analysis of the global tartaric acid market
- Central and South America
- North America
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APAC accounted for the around 45% of the market share during 2014 and is expected to lead the global market during the forecast period, growing at a rate of around 5%. The rapid economic development and the rise in disposable income in this region are the fundamental growth drivers. China is the largest consumer of tartaric acid products in this region.
Competitive landscape and key vendors
The global tartaric acid market is highly competitive due to the entry of private providers into the market. The market is predicted to witness an increased number or mergers and R&D during the forecast period.
The key vendors in the market are –
- Anhui Sealong
- Changmao Biochemical
- Thirumalai Chemicals
- Yongsan Chemicals
Other prominent vendors in the market include Miles Chemical, Prinova, Wego Chemicals & Minerals, and U.S. Chemicals.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the tartaric acid market?
- What are the key market trends impacting the growth of the global tartaric acid market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the tartaric acid market?
- Trending factors influencing the market shares of the APAC, Europe, Central and South America, North America, and ROW?
- What are the key outcomes of the five forces analysis of the global tartaric acid market?
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