According to a new report by Expert Market Research titled, “Global Tannin Market Share, Size, Report and Forecast 2024-2032″, the global tannin market size is projected to grow at a CAGR of 6.4% between 2024 and 2032. Aided by the burgeoning demand from diverse industries such as leather manufacturing, wine production, and food processing, the market is expected to grow significantly by 2032.
Tannin, a class of astringent, polyphenolic biomolecules, is naturally found in various plant parts. It plays a crucial role in the leather industry for tanning animal hides, in the wine industry for flavouring and stabilising, and in food applications for its antioxidant properties.
The primary driver for the global tannin market growth is the leather industry, where tannin is essential for transforming animal hides into durable, water-resistant leather. Additionally, the increasing global consumption of wine, where tannin is used to improve taste and longevity, is further propelling the market growth.
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Technological advancements in tannin extraction and processing are enhancing its quality and applications. Innovations in eco-friendly and sustainable tanning methods are also contributing to the tannin market size, responding to environmental concerns.
Europe dominates the global market, attributed to its established wine industry and leather manufacturing sector. The Asia-Pacific region, particularly China and India, is also witnessing significant growth due to the rising demand in leather and food processing industries.
The global tannin market is characterised by the presence of several key players who are focusing on expanding their product portfolio, improving tannin extraction techniques, and adhering to environmental regulations.
Tannin’s natural origin and biodegradability make it an environmentally friendly choice for various applications. Its antioxidant properties are also being explored in the food and pharmaceutical industries for health benefits.
As per the tannin market analysis, the market is expected to witness sustained growth, driven by the ongoing demand from the leather and wine industries and innovative applications in other sectors. The trend towards sustainable and eco-friendly practices is likely to shape the future of the market. The global market plays a significant role in various industries due to its unique properties and applications. As the market continues to grow, it offers significant opportunities for innovation, sustainability, and development of new applications in various industries.
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Market Segmentation
The market can be divided based on source, product, application, and region.
Market Breakup by Source
• Plant
• Brown Algae
Market Breakup by Product
• Hydrolysable Tannins
• Non-Hydrolysable Tannins
• Phlorotannins
Market Breakup by Application
• Leather Tanning
• Wine Production
• Wood Adhesives
• Anti-Corrosive Primers
• Other Applications
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global tannin market. Some of the major players explored in the report by Expert Market Research are as follows:
• Tannin Corporation
• S.A. Ajinomoto OmniChem N.V.
• Polson Ltd.
• Ever s.r.l.
• UCL company (pty) Ltd.
• LaffortSA
• Others
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