Tannin Market Size, Share & Trends Analysis Report By Source (Plants, Brown Algae), By Product (Hydrolysable, Non-hydrolysable, Phlorotannins), By Application (Leather Tanning, Wine Production), By Region, And Segment Forecasts, 2023 - 2030

Tannin Market Size, Share & Trends Analysis Report By Source (Plants, Brown Algae), By Product (Hydrolysable, Non-hydrolysable, Phlorotannins), By Application (Leather Tanning, Wine Production), By Region, And Segment Forecasts, 2023 - 2030

Tannin Market Growth & Trends

The global tannin market size is expected to reach USD 4.12 billion by 2030, expanding at a CAGR of 6.6% over the forecast period, according to a new report by Grand View Research, Inc. Globally increasing demand from the leather industry has been a major factor driving market growth. The utilization of tannin extracts in pharmaceuticals has increased owing to the growing consciousness regarding the medical advantages of tannin-based products.

Tannins are extensively utilized for the production of wine owing to their high anti-oxidation properties. These are used to provide color stabilization of wine and also to provide structural stability. All these factors are expected to benefit the demand for wine applications over the forecast period.

Tannins have mucosal tissues and coagulate proteins, which is useful for soothing skin irritation and pain. Medical tannin based products are utilized for soothing scars on the skin, wounds, sore mouth, minor hemorrhages, burns, and bronchitis.

Tannin extracts are used in all three stages of leather manufacturing including, preparation stage, tanning, and crusting. Owing to this scenario, leather tanning was the largest application category in 2015 and is expected to maintain its dominance over the next nine years. The leather tanning segment had a market share of 62% in 2015.

Hydrolysable tannin is expected to be the fastest growing segment in the product category over the forecast period with an estimated CAGR of 6.8% from 2023 to 2030. Hydrolysable tannins are often utilized in the manufacturing of pharmaceuticals owing to their antibacterial benefits. Recent studies have suggested that these tannins have beneficial effects against cancer.

Tannin Market Report Highlights

• The brown algae accounted for the largest revenue share of 78.4% in 2022 and is expected to grow at the fastest CAGR of 6.8% during the forecast period.
• The hydrolysable segment is expected to grow at the fastest CAGR of 6.8% over the forecast period. Hydrolyzable tannins when heated, form gallic acids.
• Wood adhesives is expected to grow at the fastest CAGR of 6.9% over the forecast period. The growing manufacturing of wooden products has given rise to high demand for wood adhesives.

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