Newark, May 08, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2.9 billion tannin market will reach USD 5.6 billion by 2033. Because of their strong antioxidant capabilities, tannins are primarily utilised in the wine-making process to give the finished product its bitter flavour, colour stability, and structural integrity. Since tannins have a structure that includes mucosal tissue and coalesce proteins, the pharmaceutical industry also uses them to treat pain, irritation, wounds, and sore mouth issues. Plants have a high tannin content, which shields them from predators and growth regulators. Rich sources of tannin are walnuts, organs, grapes, blueberries, strawberries, and cranberries.
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| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Base Year | 2023 |
| Market Size in 2022 | USD 2.9 billion |
| Market Size in 2032 | USD 5.6 billion |
| CAGR | 6.9% |
| No. of Pages in Report | 237 |
| Segments Covered | Source, Product, Application |
| Drivers | Growing demand for natural and organic ingredients in different industries |
Tannin has several uses and is applied to cuts and burns to reduce bleeding and promote healing. The primary driver of the tannin market's growth is people's fast-rising disposable income, particularly in developing nations. The wine industry's growing demand and consumers' evolving lifestyles are the main factors driving the need for tannin. Furthermore, the demand for tannin will increase overall throughout the predicted period because of rising living standards and increased alcohol consumption.
Europe will account for the largest market size during the forecast period.
Because of Europe's highly established wine industry, tannin is a major requirement. France's well-established wine industry contributes to its substantial market share. The market is rising because tannin is increasingly used in wine, leather, and wine processing. Germany ranks third in the European Union for leather output. The country is home to around 100 leather manufacturers. Additionally, the wine-processing sector makes substantial use of tannin. Germany is the EU's fourth-largest producer of wine, behind France, Italy, and Spain. The United States Department of Agriculture (USDA) has released figures indicating that 8.4 million hectoliters of wine will be produced in Germany in 2019.
The brown algae segment dominated the market with the most significant revenue of USD 1.68 billion.
The brown algae segment dominated the market, with the most significant revenue of USD 1.68 billion. Large, swiftly proliferating seaweeds known as brown algae can be found in various aquatic environments, including near-shore seas, tidal splash zones, rock pools, and intertidal zones. Due to their high phlorotannin concentration, they could be a source of tannins for leather tanning and wood adhesives.
The non-hydrolyzable segment dominated the market with the most significant revenue of USD 1.21 billion.
The non-hydrolyzable segment dominated the market with the most significant revenue of USD 1.21 billion. Condensed tannins are another name for non-hydrolyzable tannins. Condensed plant extracts are used in the formulation of these goods. They are used to make wood adhesives and nutritional supplements and are typically found in tropical trees, including quebracho, mimosa, pine, and spruce.
The leather tanning segment dominated the market with the most significant revenue of USD 0.81 billion.
The leather tanning segment dominated the market, with a revenue of USD 0.81 billion. Tannins are insoluble proteins that do not degrade. This quality makes them useful for producing leather. When tanning leather, animal pelts are processed. The demand for leather is growing since it can be used for various items, such as furniture, clothing, and automobile seats. The industry is expected to grow due to growing disposable income and increased customer interest in leather items.
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Market Dynamics:
Drivers: Increasing demand for natural and sustainable products across various industries
The rising demand for sustainable and natural products across various industries is one of the main factors propelling the global tannin market. Using tannins— from renewable plant sources—becomes more popular as consumers look for products with fewer chemical additions and environmental benefits. The market for tannin is expanding due to consumer demand for environmentally friendly substitutes in food and drink, leather goods, and other uses.
Restraint: Fluctuating raw material costs
Variations in the pricing of raw materials are one of the primary problems limiting the worldwide tanning business. Since plants are the primary source of tannins, several factors, such as disruptions in the supply chain, changes in farming techniques, and climate fluctuations, can affect raw materials' availability and pricing. The volatility of raw material prices can impact the profitability of tannin producers and pose challenges to maintaining stable final product prices.
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Some of the major players operating in the tannin market are:
● Tannin Corporation
● Polson Ltd.
● UCL Company (Pty) Ltd
● W. ULRICH GmbH
● Jyoti Dye Chem Agency
● Raphas
● Ajinomoto OmniChem.
● Ever s.r.l.
● LaffortSA
● TANAC
● Tanin d.d.
Key Segments cover in the market:
By Source:
● Brown Algae
● Plants
By Product:
● Phlorotannins
● Non-hydrolysable
● Hydrolysable
By Application:
● Wine Production
● Anti-corrosive Primers
● Leather Tanning
● Wood Adhesives
● Others
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About the report:
The global tannin market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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