Summary
The global tannin market grew at a CAGR of around 6% during 2015-2020.
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. Looking forward, the analyst expects the global tannin market to exhibit moderate growth during the next five years.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global tannin market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, source, product and application.
Breakup by Source:
Plants
Brown Algae
Breakup by Product:
Hydrolysable Tannins
Condensed Tannins
Phlorotannins
Breakup by Application:
Food and Beverages
Leather Tanning
Wood Adhesives
Other
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
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.
Key Questions Answered in This Report:
How has the global tannin market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global tannin market?
What are the key regional markets?
What is the breakup of the market based on the source?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global tannin market and who are the key players?
What is the degree of competition in the industry?
