Tannin Market Size, Share, Growth Analysis, By Type(Hydrolysable, non-hydrolysable and Phlorotannins), By Application(Leather tanning, wine production, wood adhesives, anti-corrosive primers and others), By Region - Industry Forecast 2024-2031

Tannin Market size was valued at USD 2.53 billion in 2021 and is poised to grow from USD 2.67 billion in 2022 to USD 4.13 billion by 2030, at a CAGR of 5.6% during the forecast period (2023-2030).

Global Tannin Market continues to experience significant growth and diversification, driven by various factors. Tannins, naturally occurring polyphenolic compounds found in plants, are widely utilized across multiple industries, including food and beverages, leather tanning, wood adhesives, healthcare, and animal feed. The demand for tannins as a natural preservative and antioxidant in the food and beverage industry, particularly in the wine sector, remains high, contributing to the market expansion. The leather industry continues to be a major consumer of tannins, employing them in the process of tanning hides and creating durable leather products. Additionally, ongoing advancements in research and technology are fostering the development of new applications for tannins in nutraceuticals, pharmaceuticals, and cosmetic products, further boosting market growth. Furthermore, the rising trend of eco-friendly and organic products is propelling the demand for tannins, as they are sourced from renewable plant-based materials. Additionally, the increasing adoption of tannins in the healthcare and pharmaceutical sectors for their potential health benefits is opening up new avenues of growth for the global tannin market. Geographically, North America is prominent market due to their burgeoning wine and leather industries, while Asia-Pacific is rapidly growing. Nevertheless, challenges such as fluctuating raw material costs and increasing environmental concerns related to tannin extraction continue to be factors to consider for market expansion. Overall, the global market is poised for continued growth, driven by diverse applications, increasing consumer awareness of natural and sustainable products, and ongoing research and innovation in the field.

US Tannin Market is poised to grow at a sustainable CAGR for the next forecast year.