Driven primarily by the vigorous wine industry
in Asia Pacific and Latin America, the tartaric acid market is expected to
exhibit a 6.2% CAGR between 2014 and 2022, says Transparency Market Research’s
latest report. The study, titled ‘Tartaric
Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2014 - 2022,’ estimates the global tartaric acid
market at US$1.85 billion in 2013 and expects it to reach a
valuation of US$3.16 billion by the end of 2022. By volume, the market
approximated 80.2 kilo tons in 2013, says the report.
The ability and willingness of Asian and Latin
American consumers to spend more on wine is seen to be the central force in the
tartaric acid market globally. Alcoholic beverages and wine form an integral
part of the burgeoning luxury products market in these regions. Another factor
that substantially ups the demand for tartaric acid globally is the demand for
the substance as an organic excipient in the pharmaceutical industry. In the
GCC region, an upswing in construction activities will create new growth
avenues for companies in the tartaric acid market.
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