5195.00 Dollar US$ Global Tannin Market Report

The global tannin market is projected to witness a CAGR of 7.7% over the forecast period. The market is likely to expand from USD 1.64 billion in 2017 to USD 3.05 billion by 2024. The aforementioned growth can be majorly attributed to the increase in leather industry from major economic countries such as China and India. Tannin is extracted from plants and fruits and acts like an astringent. It is mostly found in parts of the plants such as bark, roost, tissue and stem, skin.

Tannins are also used in the production of wine owing to their high anti-oxidation properties. They are basically used to provide the bitter taste and color stabilization and structural stability to the wine. Pharmaceutical industry also make use of tannins in curing problems of skin irritation, wounds, sore mouth and pain owing to their structure, containing coagulate proteins and possessing mucosal tissue.

Leather tannin segment is the largest application of the market

It has been observed that leather demand has been increasing which in turn fuelling the demand of tannin. The demand for leather is due to its varied applications in furniture, clothes, and automotive seats among others. Tree bark has high amount of tannin which is why the process is called bark tanning. Many companies like Tannin Corporation has been developing and manufacturing highest quality leather using tanning process. The entire process takes place almost 8 weeks, cut & shaped, then dried hide will be tan, hence the name tanning.

Tannin Market- Regional Insights

North America accounted for the largest market share in 2017, followed by Europe. This is due to the well established leather industry in North America and increasing consumption of wine and alcohol in Europe. According to the European Union, Europe was the leading producer of wine between 2009 and 2014, the average annual production of wine was 167 million hectoliters. It accounted for almost 45% of the world wine-growing areas, 57% of global consumption and 70% of global exports. Asia Pacific is expected to possess the highest CAGR in the coming years due to increase in leather manufacturing industry. Increase in construction activities and wood adhesives are also driving the market growth in this region.

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