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PORTLAND, OR, UNITED STATES, September 12, 2024 /EINPresswire / -- According to a new report published by Allied market Research, titled,“Global Tannin Market : Opportunity Analysis and industry Forecast, 2021–2030,” the global tannin market was valued at $2.3 billion in 2020, and is projected to reach $4.0 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030.
The report offers key drivers that propel the growth in the global tannin market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
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By source, the global tannin market size is bifurcated into plants and brown algae. The plants segment dominated the global tannin market with more than half of the total tannin market share in 2020, as processes of manufacturing tannin from plants are easy.
On the basis of product, the market is segregated into hydrolysable, non-hydrolysable, and phlorotannin. The hydrolysable segment dominated the global tannin market with more than two-fifths of the total market share in 2020, as hydrolysable products have beneficial antibacterial effects and are used in the manufacturing of pharmaceuticals.
Tannin refers to astringent biomolecule extracted from plants and fruits. It is found in various parts of plants, including barks, stem tissues, roots, seeds, and leaves. Moreover, plants have a large amount of tannin, which protects them from predators and helps with their growth regulation. Fruits with rich tannin content include cranberries, blueberries, strawberries, hazelnuts, pecans, walnuts, grapes, and oranges. Moreover, tannins are found in coffee, tea, red wine, and beer. Furthermore, tannins are used in medicines such as witch hazel, a source of tannin, used popularly in skincare and personal care products.
Region wise, the global tannin market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe emerged as the leader with nearly two-fifths of the total market share in 2020, owing to development of the wine industry across the region.
Key Findings Of The Study
In 2020, Europe dominated the global tannin market with around 39.0% share, in terms of revenue, and is projected to grow at the highest CAGR of 4.5% in terms of value.
The North America is projected to grow at the highest CAGR of 6.3% in terms of revenue.
The plants segment dominated the global tannin market with around 52.7% of the share in terms of revenue, and is estimated to register the highest CAGR of 6.2%.
The hydrolysable segment dominated the global tannin market with around 43.6% of the share in terms of revenue.
The phlorotannin segment is projected to grow at the highest CAGR of 6.3% in terms of revenue.
The leather tanning segment dominated the global tannin market with 61.7% of the share in terms of revenue.
The wood adhesive segment is projected to grow at the highest CAGR of 6.6% in terms of revenue.
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The major players profiled in the global tannin market report are Tannin Corporation, S.A. Ajinomoto Omnichem N.V., Polson Pty. Ltd., Forestal Mimosa Ltd., Ever S.R.L., and UCL Company (Pty) Ltd., Laffort SA, Zhushan County Tianxin Medical & Chemical Co., Ltd., W. Ulrich GmbH, and Tanin Sevnica D.D.
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of“Market Research Reports” and“Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
David Correa
Allied Market Research
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