Tannin Market Analysis, Share, Size, Trends, Price, Growth, Report, Forecast 2023-2028
The new report by Expert Market Research titled, ‘Global Tannin Market Analysis, Size, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global tannin market, assessing the market based on its segments like source, product, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6.7%
Secondary plant metabolites known as hydrolysable tannins include simple gallic acid derivatives, gallotannins (GTs), and ellagitannins (ETs). These tannins are essential in the nutraceutical and pharmaceutical industries because they have anti-cancer, anti-angiogenic, antioxidant, anti-inflammatory, and anti-ulcerative characteristics. Mangoes, guavas, pimento, and cloves are all high in these.
Furthermore, due to concerns about synthetic compounds used in the food industry, which have been shown to have negative effects on both the human body and the environment, tannins could be a viable alternative to these toxic chemicals in developing industries. Additionally, phlorotannins have outstanding health benefits such as radioprotection, anti-cancer, antibacterial, anti-oxidation, anti-HIV, and anti-diabetic, making them incredibly popular in the pharmaceutical business and positively boosting market growth in the next years.
Tannin Industry Definition and Major Segments
Tannin is a term used to describe astringent biomolecules found in plants and fruits. It can be present in plants’ barks, stem tissues, roots, seeds, and leaves, among other places. Plants also contain a substantial quantity of tannin, which defends them from predators and aids in growth management. Cranberries, blueberries, strawberries, hazelnuts, pecans, walnuts, grapes, and oranges are among the fruits having high tannin content.
Tannins can also be found in coffee, tea, red wine, and beer, in addition to fruits. Tannins are also employed in pharmaceuticals, such as witch hazel, a tannin source that is widely used in skincare and personal care products.
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On the basis of source, the market is segmented into:
- Brown Algae
Based on product, the industry can be divided into:
- Hydrolysable Tannins
- Non-Hydrolysable Tannins
On the basis of application, the industry can be segmented into:
- Leather Tanning
- Wine Production
- Wood Adhesives
- Anti-Corrosive Primers
- Other Applications
On the Basis of region, the market can be divided into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Tannin Market Trends
Because tannins are insoluble proteins that do not disintegrate, the leather tanning segment is expected to account for a significant market share in the tannin business. This increase can be attributed to rising global demand for leather goods such as purses, footwear, and clothes, as well as rising disposable incomes. Leather seats are also becoming more popular in the car industry.
Collagen in animal hide or skin and tannin cross-link to make leather during the tanning process. In addition, because of its capacity to generate dark blue or green solutions with iron salts, tannin is employed in the creation of inks and as wood adhesives in various wood items such as furniture. In the foreseeable term, these factors are expected to have a beneficial impact on market growth.
During the projection period, Europe is expected to hold a large proportion of the tanning business. The increase can be ascribed to the region’s wine industry’s increased use of tannin. Tannins are in high demand in places like France, where the wine industry is rapidly expanding and flourishing. Furthermore, the expanding number of alcohol consumers in the region is driving up demand.
Tannins are also used in the leather and food manufacturing industries in the Asia Pacific region. The demand is expected to rise further as the region’s population grows, disposable income rises, and the standard of living improves. In the future years, these advancements are projected to catalyse market expansion.
Key Market Players
The major players in the market are Tannin Corporation, S.A. Ajinomoto OmniChem N.V., Polson Ltd., Ever S.R.L., UCL company (Pty) Ltd., LaffortSA, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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