The global tannin market size is expected to reach USD 19.86 billion by 2032, according to a new study by Polaris Market Research. The report “Tannin Market Share, Size, Trends, Industry Analysis Report, By Source (Plant, Brown Algae); By Product Type; By Application; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Tannins are mostly employed in the manufacturing of wine due to their significant anti-oxidation capabilities. They primarily serve to give the beverage its bitter flavor, stabilize its color, and maintain its structural consistency. Because of its structure, which comprises cohesive proteins and has mucosal tissue, tannins are also used by the pharmaceutical sector to treat problems with sore mouth, wounds, skin, irritation, and pain.
Plants have a high tannin content, which shields them from predators and growth regulation. Fruits high in tannin include nuts, organs, grapes, blueberries, strawberries, and cranberries. Moreover, tannin is applied in various ways to speed up the healing process after cuts and burns.
The various product varieties are made up of complex polyphenolic compounds that are found in plants and can precipitate proteins in aqueous media. They combine with one or more protein molecules to generate massive, cross-linked complexes soluble in water. The substance naturally occurs in numerous plants' wood, fruit, roots, bark, and leaves. The purpose is to be utilized in multiple processes, including tanning leather, fabric dyeing, ink manufacture, winemaking, and therapeutic procedures.
Significant growth in demand for the product from the wine and leather sectors is a key industry driving force. Due to consumers' rising disposable income, particularly in emerging countries, alcohol consumption has increased. Also, the substance is employed in several pharmaceuticals, which supports the industry's expansion.
Throughout the projected period, the market is anticipated to be driven by the increased demand for luxury items, including clothing, shoes, and cars with plush leather interiors. The product's order in the market has increased because it is utilized more frequently in the producing of wood adhesives.
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High standards of living, rising disposable money, and increasing demand from the pharmaceutical industry are further motivating reasons. Many prospects for industry expansion arise from existing businesses expanding into emerging economies.
Tannin Market Report Highlights
Polaris Market Research has segmented tannin market report based on Source, Product type, application, and region:
Tannin, Source Outlook (Revenue - USD Billion, 2019-2032)
Tannin, Product Type Outlook (Revenue - USD Billion, 2019-2032)
Tannin, Application Outlook (Revenue - USD Billion, 2019-2032)
Tannin, Regional Outlook (Revenue - USD Billion, 2019-2032)