According to IMARC Group latest report titled” Tannin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market grew at a CAGR of around 6% during 2015-2020. The global Tannin Market size to exhibit moderate growth during the next five years. Tannin, or tannic acid, stands for a naturally occurring water-soluble compound present in the leaves, roots, seeds, seeds, barks, and stems of the plants. It is also found in several nuts, spices, legumes, herbs, and fruits, such as cranberries, blueberries, grapes, strawberries, and oranges. Tannin is a rich source of polyphenols and antioxidants. It generally exists in hydrolysable, non-hydrolysable, and phlorotannin forms that bind well with alkaloids, proteins, and amino acids. Tannin is widely adopted across several industries, such as food and beverages, pharmaceuticals, leather tanning, adhesives, cosmetics, animal nutrition, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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The global tannin market is primarily driven by the increasing utilization of additives in coffee, tea, beer, wine, etc. Moreover, the expanding automobile sector, along with widespread adoption of tannin to manufacture leather-based automobiles upholsteries is also augmenting the market growth. Additionally, the increasing consumer preferences for leather-based bags, footwear, and apparel, is further catalyzing the demand for tannin. Additionally, several innovations, such as the production of plant-based tannin extracts, are also bolstering the market growth. Numerous other factors, including rising expenditure capacities of the consumers, and the utilization of tannin for the manufacturing of tannin-based pharmaceutical products, are anticipated to further drive the global market in the coming years.
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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:
- Brown Algae
Breakup by Product:
- Hydrolysable Tannins
- Condensed Tannins
Breakup by Application:
- Food and Beverages
- Leather Tanning
- Wood Adhesives
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 (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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