According to IMARC Group latest report titled “Tannin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, offers a comprehensive analysis of the industry, which comprises insights on tannin market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The market grew at a CAGR of around 6% during 2015-2020. The Global Tannin Market to exhibit moderate growth during the next five years.
Tannin is an astringent biomolecule derived from phenolic acids. It is classified as a phenolic compound found in various parts of plants, including barks, stem tissues, roots, seeds, and leaves. Tannin protects plants from predators and helps with their growth regulation. It is widely popularly utilized in the formulation of skincare and personal care products.
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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Market Trends:
The global market is majorly driven by the increasing applications of the product for preparing wine. In line with this, the rising alcohol consumption due to improved living standards is positively influencing the product demand across the globe. Moreover, tannin possesses anti-cancer, anti-angiogenic, antioxidant, anti-inflammatory, and anti-ulcerative properties. Consequently, it is widely utilized in the nutraceutical and pharmaceutical industry for the preparation of numerous medicines. Besides this, the increasing demand for medical tannin-based products for soothing scars on the skin, wounds, sore mouth and burns is providing a boost to the market growth on the global level.
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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:
- 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 (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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