Tannin Market by Application (Leather Tanning, Wine Production, Wood Adhesives, Anticorrosive Primers, and Others), Source (Plants and Brown Algae), and Product (Hydrolysable, Non-Hydrolysable, and Phlorotannin) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits - Forecast 2024-2032

Industry : FMCG | Pages : 176 Pages | Upcoming : Jun 2024

         
     

The Global Tannin Market reached a value of $2.3 billion in 2022 and is predicted to reach $4.0 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.7% from 2023 to 2030.

The outbreak of the COVID-19 pandemic worldwide resulted in the disruption of leather goods and wine production, as well as wood adhesive manufacturing, due to government-imposed lockdown measures. Consequently, the global demand for tannin has declined.

Tannin is a complex chemical substance derived from phenolic acids, also known as tannic acid. It falls under the category of phenolic compounds and is found in various plant species. Commercial tannins are typically pale yellow to light brown amorphous substances, available in the form of powder, flakes, or spongy masses. They are primarily used in leather tanning, fabric dyeing, ink production, and various medical applications.

The growth of the global tannin market is primarily driven by the increased demand from industries such as leather tanneries, wine production, paints and coatings, and adhesive manufacturing. Furthermore, the rise in alcohol consumption due to higher disposable incomes and improved living standards worldwide is expected to drive the demand for tannin. The increasing demand for luxury goods, automobiles with luxurious leather interiors, clothing, and shoes, along with the growing utilization of tannins in healthcare applications and wood adhesives, are significant factors propelling the global tannin market.

However, the potential carcinogenic effects associated with tannins are expected to hinder the growth of the tannin market during the forecast period. Conversely, the increasing number of start-ups offering innovative products and technologies present lucrative growth opportunities for the tannin market in the coming years.

The global tannin market is segmented based on source, product, application, and region. In terms of source, the market is classified into plants and brown algae. Based on product, it is divided into hydrolysable tannins, non-hydrolysable tannins, and phlorotannins. The application segment encompasses leather tanning, wine production, wood adhesives, anticorrosive primers, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the global tannin industry include Tannin Corporation, S.A. Ajinomoto Omnichem N.V., Polson Pty. Ltd., Forestal Mimosa Ltd., Ever S.R.L., UCL Company (Pty) Ltd., Laffort SA, Zhushan County Tianxin Medical & Chemical Co., Ltd., W. Ulrich GmbH, and Tanin Sevnica D.D.

Global Tannin Market, By Region
In 2022, Europe emerged as a significant player in the tannin market, holding a considerable market share. European countries have a long-standing tradition of wine manufacturing, as wine has been an integral part of traditional meals in the region. The wine industry has witnessed increased sales due to innovations in terms of flavors, colors, and customized packaging. Consequently, there has been a surge in demand, leading to the conversion of substantial land areas into vineyards, particularly in Spain, Italy, France, and Turkey, where local wines have gained global popularity. To meet this high demand, manufacturers procure grapes in large quantities from these vineyards, enabling them to produce wine at lower costs. Tannins are widely utilized in European wineries to safeguard wine from oxidation during the aging process in barrels. The rapid growth of the wine industry in the region is expected to drive the demand for tannins, thereby fueling the growth of the tannin market in Europe.

Regarding the source of tannins globally, the plants segment held a significant market share in 2022. Plants rich in tannin content include wattle, trefoil, sainfoin, quebracho, mangroves, eucalyptus, and canaigre. These plants are readily available and the manufacturing processes for extracting tannins from them are relatively simple. These factors are expected to accelerate the growth of the plants segment during the forecast period.

In terms of tannin products, the hydrolysable segment dominated the market in 2022. Hydrolysable tannins, when heated, transform into gallic acids. These products exhibit beneficial antibacterial properties and are used in the production of pharmaceuticals. Moreover, recent studies have suggested that hydrolysable tannins show effectiveness against cancer. As a result, with the rising number of cancer patients worldwide, there is a projected increase in demand for hydrolysable tannins in the coming years, thereby fostering the growth of the tannin market.

Global Tannin Market, By Application

In 2022, the leather tanning segment held a significant share in the tannin market. This can be attributed to the process of treating animal skins and hides to produce leather, which results in a soft, durable, and flexible material. Leather is one of the most widely traded materials globally, and the consumption of luxury leather products has increased due to population growth and changing life trends. This has driven the demand for tannin worldwide. Leather tanned products find extensive use in industries such as footwear and packaging. Developing economies fulfill more than 65.0% of the global demand for leather. The need to maintain and enhance the aesthetic and functional aspects of leather further contributes to the demand for tannin on a global scale.

COVID-19 Impact Analysis
The outbreak of the novel coronavirus (COVID-19) had a significant impact on the global economy, with a 3.0% contraction reported in 2022, according to the International Monetary Fund (IMF). Stringent lockdown measures in many countries led to the closure of several sectors, halting manufacturing activities and reducing the demand and production of tannin.

The leather industry, including footwear, apparel, and accessories, was negatively affected by the COVID-19 pandemic. Retailers experienced significant losses in the first two quarters of 2022. The World Footwear reported a nearly 32.0% decline in footwear sales in the U.S. during that period. The reduced demand for footwear is expected to have a subsequent impact on the sales of leather shoes. Many manufacturers in the market traditionally relied on China for finished products and raw materials used in the production of various leather goods. However, the pandemic disrupted the global supply chain, causing delays and losses in product shipment and delivery. As a result, the demand for tannin from leather manufacturers and tanners decreased significantly in 2022 and is expected to be affected in 2023. Nevertheless, the demand for tannin from the leather industry is anticipated to recover in the first half of 2022 as manufacturing activities are set to resume for various leather goods producers.

The global wine distribution channel has been significantly disrupted by the COVID-19 pandemic, mainly due to the widespread closure and restrictions imposed on hotels and restaurants worldwide. The sudden outbreak of the pandemic has had a profound impact on the hospitality sector, with approximately 77.0% of hotels experiencing closures and a 60.0% decrease in turnover by the end of 2022. Similarly, the restaurant industry has faced a decline of 91.0% in sales globally. The decrease in wine sales across the globe has consequently led to a reduction in wine production, negatively affecting the consumption of tannin from wineries and impeding the growth of the market.

Tannin also finds extensive use in the production of wood adhesive. However, the outbreak of the COVID-19 pandemic has resulted in the suspension of various residential, commercial, and industrial construction projects due to lockdown measures. Consequently, the demand for wood adhesives, which are used in applications such as glue laminated beams, windows, and doors, has declined. Moreover, the closure of wood adhesive manufacturing plants during the lockdown has further contributed to the decreased demand for tannin.

Market Segmentation
By SOURCE

• Plants
• Brown algae

By PRODUCT
• Hydrolysable
• Non-hydrolysable
• Phlorotannin

By APPLICATION
• Leather tanning
• Wine production
• Wood adhesives
• Anti-corrosive primers
• Others

Key benefits for stakeholders
• The analysis of the Global Tannin Market encompasses comprehensive information about the leading industry participants.
• Porter's five forces analysis is utilized to assess the potential of buyers, suppliers, and the competitive landscape within the industry, aiding in strategy development.
• The contribution of major countries to the regional market in terms of revenue is carefully mapped out.
• A detailed analysis of the global tannin market forecast for the period 2023-2030 is provided in the report.
• The report examines the current trends in the global tannin market and presents a future scenario from 2022 to 2030, allowing for an understanding of prevailing opportunities and potential areas for investment.
• The study on the global tannin market explains the key drivers, restraints, and opportunities, along with a detailed impact analysis.

 

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