The Tannin Market was worth USD 1.53 billion in 2014 and is expected to reach approximately USD 2.74 billion by 2023, while registering itself at a compound annual growth rate CAGR of 6.71% during the forecast period. Expanding demand from the leather production and wine making industry is foreseen to be a key factor driving business sector development. Tannin, an astringent biomolecule is separated from plants and natural products. It is found in different parts of plants including, seeds, roots, barks, leaves, and stem tissues Plants are a rich source of tannin content, which shields them from predation and also helps for their development control. Natural products with rich tannin content incorporate strawberries, grapes, hazelnuts, blueberries, oranges, walnuts, cranberries, and pecans.
Source Outlook and Trend Analysis
Tannins occur in different species in the plant kingdom. The most well-known occurrence of tannins is found in angiosperms and gymnosperms. Different species which likewise have tannin in plenitude incorporate, bixaceae, aceraceae, myriacaceae, burseraceae, ericaceae, dipterocarpaceae, grossulariaceae, combretaceae, actinidiaceae, najadaceae, and typhaceae. Dense tannins are the most plentiful organic mixes, which are found in all groups of plants.
Product Outlook and Trend Analysis
Hydrolysable tannins when heated form Gallic acids. These products have valuable antibacterial impacts and consequently are additionally used as a part of the production of pharmaceuticals. Recent investigations have likewise proposed that hydrolysable are useful against tumour. Non-hydrolysable is otherwise called consolidated tannins. These products are detailed when the plant removes are consolidated.
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Application Outlook and Trend Analysis
The worldwide demand has seen a change in outlook attributable to the rising awareness among customers with respect to the benefits of tannin. Leather tanning rose as the biggest application portion and represented more than 62.3% of the aggregate market income in 2016. Tannins are insoluble proteins and don’t decay. Attributable to this property, they are used for the assembling of leather. In cowhide tanning forms, the skins of creatures are dealt with. The interest for leather is expanding inferable from its differed applications in furniture, clothing, and automotive seats.
Regional Outlook and Trend Analysis
Europe was the main area and represented around 38% of the aggregate income in 2015. The wine business is profoundly developed in Europe, and in this way the prerequisite of tannin in the area is high. Especially France has an entrenched wine industry and along these lines have a vast offer in the worldwide market. Europe was trailed by North America which represented critical offer of the aggregate income in 2015.
The leading players in the market are Laffort SA, Tannin Corporation, W. Ulrich GmbH and Ajinomoto Omnichem. Application advancement and modified products are anticipated to be the key parameter for being focused in this industry, with visit joint endeavors, mergers, and acquisitions being embraced as an endeavor to broaden product portfolio and pick up piece of the overall industry.
The Tannin Market is segmented as follows-
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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