PUBLISHER: Grand View Research | PRODUCT CODE: 1114115
PUBLISHER: Grand View Research | PRODUCT CODE: 1114115
The global tartaric acid market size is expected to reach USD 468.15 million by 2026, as per the new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.0% from 2022 to 2026. The industry growth is majorly attributed to the rapid growth of the food, wine, and beverage industries and an increase in the population. Tartaric acid is a type of organic acid that is abundantly found in grapes in its natural form. It is synthetically produced from Maleic anhydride owing to its structural similarities. The product is used in several end-use applications including food, beverages, pharmaceutical, cosmetics and personal care, animal feed, construction, and metal cleaning.
Raw materials used to manufacture the product using the natural route are fruits, especially grapes, while raw materials used in the synthetic route include maleic acid and hydrogen peroxide. The manufacturers of the product have established supply agreements with raw material suppliers to ensure uninterrupted availability of raw materials at competitive prices, in order to smoothen production operations. Tartaric acid is widely used in the wine industry for improving taste, reducing pH, and as a preservative in wine. Factors such as the increasing disposable income of consumers and the growing acceptance of wine among the young population have boosted global wine consumption. Additionally, increasing wine production in major markets, such as Italy, France, Spain, and the U.S., has further fueled the growth of the wine industry.
The product is extensively used in functional foods, nucleotides, and energy drinks on account of its anti-oxidant and inflammatory properties. Increasing awareness regarding the health benefits of anti-oxidants and growing consumer preference for a healthy diet across the world are expected to have a favorable impact on the demand for tartaric acid during the forecast period. The major end-use industries of the product are food, beverages, and pharmaceuticals, which were less severely impacted by the COVID-19 pandemic as they are classified under essential services. This had a positive effect on the demand for tartaric acid as these industries were operational to some extent despite the lockdown. With the situation returning to normal by the end of 2021, the product witnessed an increase in demand from other industries, thereby normalizing the market.