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Press Release

Tartaric Acid Market - Rising Demand From Food and Beverages Industry to Promote Growth | Technavio

Technavio Research
Posted on: 15 Feb 18

The latest market research report by Technavio on the global tartaric acid marketpredicts a CAGR of around 6% during the period 2018-2022.

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Technavio has published a new market research report on the global tartaric acid market from 2018-2022. (Graphic: Business Wire)

The report segments the global tartaric acid market by application (wine, food and beverages, and pharmaceutical) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global tartaric acid market, according to Technavio chemicals and materials researchers:

  • Growing construction industry: a major market driver
  • Increasing demand from the food and beverages industry: emerging market trend
  • The Americas dominated the global tartaric acid market with around 45% share in 2017

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Growing construction industry: a major market driver

Growing construction industry is one of the major factors driving the global tartaric acid market. The global construction industry is estimated to reach approximately USD 10.3 trillion in 2020. APAC has some of the world's leading economies such as Indonesia, China, India, Japan, and the Philippines. Apart from these, Vietnam and Malaysia are considered as potential emerging markets, while Singapore is one of the growing markets in terms of the quality of infrastructure and development. The infrastructure in Europe and North America is of good quality, depicting proper coordination and planning between the public and private players that are anticipating for the development and handling of existing and new construction projects. This assists these regions in attracting external investors to provide aid for the rehabilitation and reconstruction of existing structures.

According to a senior analyst at Technavio for research on specialty chemicals, “The market for tartaric acid is anticipated to grow based on its increasing use to delay the settling of gypsum. It acts as a retardant to delay the setting process in cement and plaster production and an anti-caking agent in gypsum processing. The construction industries in the developing markets are expected to grow at a much faster rate than the advanced economies. This is because of the increasing number of residential projects where the population has been growing rapidly over the past few years.”

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Increasing demand from the food and beverages industry: emerging market trend

The food industry provides a range of products such as animal food, consumer food, food ingredients, food additives, and dietary and nutraceutical supplements. Vendors collaborate for retailing, packaging and distribution, and the sale of these products. The beverages industry provides products such as juice, health drinks, alcoholic drinks, non-alcoholic drinks, and aerated drinks. Manufacturers are concentrating on increasing the production speed and output. Competitive pricing is anticipated to be one of the key factors for the growth of the market during the forecast period. Various product segments of the global beverages market will project growth during the forecast period. These factors will be one of the reasons for the growth of the global tartaric acid.

Global market opportunities

In terms of regional dominance, EMEA led the global tartaric acid market, contributing a market share of approximately 45% in 2017. It was followed by the EMEA region that contributed the second largest share in the market and the APAC region that contributed the least share in the market.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Business Wire

Last updated on: 15/02/2018

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