The global tannin market size reached US$ 9.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
Tannin, or tannic acid, is a naturally-occurring water-soluble compound present in the leaves, seeds, roots, seeds, barks and stems of the plants. It is also found in various nuts, spices, herbs, legumes and fruits, such as cranberries, strawberries, blueberries, grapes and oranges. Tannin is a natural astringent and a rich source of antioxidants and polyphenols. It usually exists in hydrolyzable, non-hydrolyzable and phlorotannin forms that bind well with alkaloids, proteins and amino acids. It is also used for the manufacturing of wine, processing of leather, anti-corrosive primers and wood adhesives and production of skincare products. As a result, it is widely used across industries, such as food and beverages, pharmaceuticals, leather tanning, adhesives, cosmetics and animal nutrition.
Significant growth in the food and beverage industry, along with the increasing utilization of additives in tea, coffee, wine and beer, is one of the key factors creating a positive outlook for the market. Tannin is added to wines for color stabilization and enhancing structural stability. Furthermore, increasing consumer preference for leather-based bags, footwear and apparel, is also driving the market growth. In line with this, widespread adoption of tannin for the manufacturing of leather-based automobile upholsteries is also contributing to the market growth. Additionally, various product innovations, such as the production of plant-based tannin extracts, are acting as other growth-inducing factors. These variants are extracted from plants, such as mangroves, eucalyptus and sainfoin, using environment-friendly processes. Other factors, including rising expenditure capacities of the consumers, along with the utilization of tannin for the manufacturing of tannin-based pharmaceutical products, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global tannin market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on source, product and application.
Breakup by Source:
Breakup by Product:
- Hydrolysable Tannins
- Condensed Tannins
Breakup by Application:
- Food and Beverages
- Leather Tanning
- Wood Adhesives
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Ever s.r.l., Forestal Mimosa Limited, Jyoti Dye Chem Agency, Laffort SA, S.A. Ajinomoto OmniChem N.V. (Ajinomoto Co. Inc.), Tanac S.A., Tanin Sevnica d.d., Tannin Corporation, UCL Company (Pty) Ltd. and W. Ulrich GmbH.
|Base Year of the Analysis
||Source, Product, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Ever s.r.l., Forestal Mimosa Limited, Jyoti Dye Chem Agency, Laffort SA, S.A. Ajinomoto OmniChem N.V. (Ajinomoto Co. Inc.), Tanac S.A., Tanin Sevnica d.d., Tannin Corporation, UCL Company (Pty) Ltd. and W. Ulrich GmbH
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