Tannin Market

Tannin Market Size, Share, Growth (2023-2028)

Tannin Market size is predicted to value over USD 3.39 billion by 2028 and grow a CAGR of 6.7% throughout the projection period 2023-2028.

Tannin Market Overview:

Tannin is mainly extracted from the bark of hemlock, chestnut trees, mangroves, and oaks. Blueberries, strawberries, walnuts, grapes, and oranges are also a rich source of this product. The easy accessibility to these plants and fruits makes it extremely simple for the extraction of tannin. This factor could accelerate the growth of the Tannin Market size in the future. In general, the hydrolyzable type of tannin is used in the treatment of cancer. Condensate is widely used in the leather industry. Florotannin finds application in the pharmaceutical industry due to its oxidizing features and precipitates proteins. The main properties associated with tannin include radiation protection, anticancer, antioxidant, and antidiabetic.

Recent Developments in the Tannin Market

• Tannin Corporation, a renowned company in the making of tannins has been progressed into several enterprises to increase its offerings in the tannin industry, such as Tannin Corporation, Tannin Mexico and Marden-Wild (a subsidiary based in Canada). Together, these companies form the largest supplier of wet-end chemicals in North America, creating and distributing a wide range of products that include tanning oils, fatty liquors, resins, and waxes used in leather manufacturing high quality.

• LANXESS specialty Chemicals Company showcased its full line of leather chemicals at the India International Leather Fair (IILF) that was held in Chennai, India. The range also includes stains and many finishing products. In addition to leather goods such as shoes, bags, and garments on display to demonstrate the versatility of leather in terms of application and processing, LANXESS will showcase a number of innovative products and system solutions for different stages of production leather.

Tannin Market Drivers and Restraints:

The global tannin market is expected to grow significantly during the predicted period. The rising need for tannin in several end-user verticals like leather, wine, wood, and others is the principal factor promoting the developments in the worldwide tannin market. The antioxidant and decomposition properties of tannins are a major factor in the demand for tannins in the leather-making and wine fermentation industries. Increased alcohol consumption is expected to drive growth in the worldwide tannin business. Furthermore, the demand for tannins in the manufacture of wood adhesives and medicines is supposed to drive the growth of the tannin market in a positive way during the conjecture period. However, the stringent government regulations associated with the making of tannin may slow down the industry to some extent.

Global Tannin Market Report Statistics:

Tannin Market Segmentation:

The Global Tannin Market can be explored based on the source, product type, application, and geography.

The market can be divided based on sources as brown algae and plants. The brown algae fragment accounted for the leading part of the regional market in 2018 and is expected to maintain its dominance through 2026.

The Tannin Market is divided into applications as wine production, leather tanning, anticorrosive primers, wood adhesives, and others. The leather tanning segment recorded the highest percentage of the Tannin Market in 2018 and is foreseen to continue to dominate through 2026 due to growing customer awareness of the benefits of tannin and various applications in garments chairs and car furniture.

The market could be segmented according to the product type as hydrolyzable, florotannin, and non-hydrolyzable. Of these, the hydrolyzable segment dominated the regional industry in 2018 and is estimated to maintain its dominance through 2026 due to its antibacterial properties.

Impact of COVID-19 on Tannin Market

The food and beverage market is affected by the coronavirus pandemic. The demand for food products was high but the supply of these products was lower. Travel and trade restrictions have severely affected production and distribution channels. However, the relaxation of trade restrictions in the national country increased the supply of products. This has improved the economic situation of retail establishments and the economy. The government has established certain rules and regulations that must be followed when reopening points of sale. Retailers also take the initiative to ensure the safety of employees and customers by following the guidelines. This is estimated to support the growth of the tannin industry in the following years.

Tannin Market Regional Analysis:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East, and Africa

Of these, Europe has a dominant position in the tannin market and is expected to maintain its position during the estimated period. The increased demand for tannin refers to the growing wine industry in Europe, especially in France. Due to the changing consumption scenario among young people, the demand for wine and beer has increased significantly, thus increasing the call for tannins in the region. According to the European Union, Europe produced 165,600 hectoliters of wine between 2016 and 2017. With the increasing demand for alcoholic beverages and the growth of the pharmaceutical industry, the need for tannin is likely to increase significantly during the forecast period.

The North American region accounted for the second-largest share in this tannin market after Europe. The demand for tannins from the leather industry is one of the main reasons for positively driving the growth of the tannin market in North America. According to the American Skin, Skin and Leather Association (USHSLA), the United States exports 90% of total leather production and the industry's total income is approximately $ 3 billion per year. Furthermore, the growing intake of beer and wine in the Polar regions to manage temperature is also acting as a crucial factor in supporting the tannin market in this locale.

Asia-Pacific is supposed to be the fastest-growing area in the tannin market during the envisioned period, due to the region's economic growth and increased personal disposable income in emerging economies. This considerably increases the need for the tannin market in the locale. The increased demand for tannin comes from the growing need of the Asia-Pacific wood and leather adhesive industries. Renovation and remodelling increased construction, urbanization, and increased attention to decorations have driven the growth of the wood adhesives market in the Asia Pacific region, and the market need for wood is expected to further increase the call for tannins in the coming days.

Tannin Market Key Players:

1. Jyoti Dye Chem Agenc,

2. Tannin Corporation,

3. WUlrich GmbH,

4. Zhushan County Tianxin Medical & Chemical Co,

5. LaffortSA,

6. UCL Company (Pty) Ltd,

7. Ever s.r.l,

8. Forestal Mimosa Ltd,

9. Tanac S.A, Polson Ltd,

10. S.AAjinomoto OmniChem N.V.