Canada Tartaric Acid Market Global Demand and Regional Analysis forecast year 2032
Tartaric Acid Market Synopsis:
As per the analysis by Market Research Future (MRFR), the
global market for tartaric acid is anticipated to acquire a market value of USD
0.502 Billion while expanding at a CAGR of 5.91% by 2032.
Canada
Tartaric Acid Market showcases significant growth potential driven by
the country's thriving food and beverage industry and consumer demand for
high-quality products. Tartaric acid, derived from grapes and commonly used as
an acidity regulator and flavor enhancer, finds diverse applications in
Canada's food processing sector. With Canadians increasingly favoring natural
and clean-label ingredients, tartaric acid serves as a preferred choice for
manufacturers seeking to meet these preferences. Moreover, with the growing popularity
of wine consumption in Canada, tartaric acid holds importance in the country's
winemaking industry, further contributing to its market growth.
The surging consumption of wine is expected to be a
significant factor that can augment Tartaric Acid Market size during the
forecast period. The growing tartaric acid consumption is anticipated to grow
due to the expansion of the food and beverages sector, along with increasing
demand for preservatives and additives, which can drive the industry.
Furthermore, the rising popularity of packaged food, a higher standard of
living, and the increasing application of the acid as an emulsifier in bread
production can develop the market during the forecast period.
On the flip side, the imposition of stringent rules
concerning synthetic tartaric acid usage by the various governments is
anticipated to hinder the market growth. In addition, the outbreak of COVID-19
has slowed down the operations of several manufacturing companies. However, the
rising application of the acid as a pH adjuster in the manufacture of personal
care products such as; creams, soaps, and lotions can counter the impeding
factor that can boost the market.
Key Players:
Some of the Key Tartaric Acid Market Players are ATP Group
(U.S.), Caviro Group (Italy), Merck KGaA (Germany), Changmao Biochemical
Engineering (China), Omkar Specialty Chemicals (India), Tarac Technologies
(Australia), Distillerie Bonollo (Italy), PAHI, S.L. (Spain), The Chemical
Company (U.S.), Henriette's Herbal (Finland), U.S. Chemicals LLC (U.S.), and
Australian Tartaric Products (Australia)
Market Segmentation:
The segmental analysis of the global Tartaric Acid
Market is done by source, type, and application.
The source-based segments of the global market for tartaric
acid are tamarind, grapes, and maleic anhydride, others.
The type-based segments of the global market for tartaric
acid are natural and synthetic.
The application-based segments of the global market for
tartaric acid are pharmaceuticals & nutraceuticals, food & beverages,
cosmetics & personal care, and others. Food & beverages segment is
sub-segmented into bakery & confectionery, beverages, sweet & savory
snacks, sauces, soups, and dressings.
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