Tannin Market : Exploring Growth Drivers and Overcoming Challenges to Reach US$ 12.7 Billion by 2028

According to IMARC Group latest report titled "Tannin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on tannin market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global tannin market size reached US$ 9.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.

What is Tannin?

Tannins are naturally occurring compounds in various plant-based materials, including fruits, tea leaves, and tree bark. They contribute to the astringent taste in foods and beverages like red wine and unripe fruit. They have antioxidant properties and can bind to proteins, affecting flavors and textures. They're also used in tanning leather and clarifying beverages. In wine, they can affect aging potential and mouthfeel. Tannins have been studied for potential health benefits due to their antioxidant nature, though excessive consumption may lead to digestive discomfort. They play multifaceted roles in both the culinary and industrial realms.

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What are the growth prospects and trends in the tannin industry?

The global market is majorly driven by the rising demand in the food and beverage industry. Tannins are valued for enhancing flavors, stabilizing products, and acting as natural preservatives. Additionally, the growing popularity of organic and natural ingredients in the food industry has boosted the demand for tannins as they align with consumers' preferences for clean-label products. Besides, the health and wellness trend has contributed to the market growth. Tannins possess antioxidant properties that have garnered attention for their potential health benefits, including anti-inflammatory and cardiovascular effects. As consumers seek healthier alternatives, the use of tannins in functional foods, supplements, and herbal teas has increased. Furthermore, the market benefits from its applications beyond food and beverage. Tannins are utilized in the cosmetic and pharmaceutical industries for their astringent and anti-inflammatory properties. They are also used in producing adhesives, textiles, and leather, driving demand in industrial sectors. Environmental concerns have also influenced the tannin market. Tannins are often derived from renewable sources, aligning with sustainability goals. This has increased adopting of eco-friendly products and practices, further propelling market growth.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Ever s.r.l.
• Forestal Mimosa Limited
• Jyoti Dye Chem Agency
• Laffort SA
• S.A. Ajinomoto OmniChem N.V. (Ajinomoto Co. Inc.)
• Tanac S.A., Tanin Sevnica d.d.
• Tannin Corporation
• UCL Company (Pty) Ltd.
• W. Ulrich GmbH

Tannin Market Segmentation:

Our report has categorized the market based on region, source, product and application.

Breakup by Source:
• Plants
• Brown Algae

Breakup by Product:
• Hydrolysable Tannins
• Condensed Tannins
• Phlorotannins

Breakup by Application:
• Food and Beverages
• Leather Tanning
• Wood Adhesives
• Other

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 (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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