According to IMARC Group latest report titled “Tannin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on . The report also includes competitor and regional analysis, and contemporary advancements in the global market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 12.43 Billion by 2027, exhibiting a CAGR of 6.4% during 2022-2027.
Tannin refers to a naturally occurring biomolecule compound extracted from fruits and plants. It is a complex water-soluble substance that is present in seeds, barks, leaves, roots, stem tissues, and stems of plants. Additionally, it is also found in various spices, legumes, nuts, herbs, and fruits, including strawberries, grapes, cranberries, oranges, and blueberries. It generally exists in non-hydrolyzable, hydrolyzable, and phlorotannin forms that bind well with proteins, amino acids, and alkaloids. It is widely used in the manufacturing of wine, processing of anti-corrosive primers and wood adhesives, leather, and production of skincare products.
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Market Trends:
The market is majorly driven by significant growth in the food and beverage industry. This is supported by the rising utilization of additives in the preparation of coffee, beer and tea. Additionally, it is added to wine to enhance structural stability and color stabilization is impacting the market growth favorably. Apart from this, tannin is utilized in the production of pharmaceutical products, adhesives, animal nutrition, leather tanning, and cosmetics, which is further boosting the market growth globally. Furthermore, continuous product innovations, such as the production of plant-based tannin extracts, are creating a positive market outlook. Other factors driving the market include the increasing consumption of alcohol and the rising expenditure capacities of consumers.
View Full Report with TOC & List of Figure:
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Ever s.r.l.
- Forestal Mimosa Limited
- Jyoti Dye Chem Agency
- Laffort SA
- A. Ajinomoto OmniChem N.V. (Ajinomoto Co. Inc.)
- Tanac S.A., Tanin Sevnica d.d.
- Tannin Corporation
- UCL Company (Pty) Ltd.
- Ulrich GmbH
Tannin Market Segmentation:
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)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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