Tannin Market Surge Valuation Of 3.39 Billion Units By 2025: Grand View Research, Inc.
The global tannin market is expected to reach USD 3.39
billion by 2025, 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.
U.S. tannin market volume by product, 2014 - 2025 (Kilotons) |
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 7.0% from 2016 to 2025. 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.
Full
Research Report On Global Tannin Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/tannin-market
www.grandviewresearch.com/industry-analysis/tannin-market
Further
key findings from the study suggest:
- The global tannin demand was 1,076.3 kilotons
in 2015 and is expected to grow at a CAGR of 5.8% from 2016 to 2025
- Plants emerged as the largest source segment in
2015 and is estimated to generate revenue over USD 3.22 billion by 2025
- Global tannin demand in wine making was USD
0.23 billion in 2015 and is anticipated to witness steady growth over the
next nine years
- The U.S. non-hydrolysable tannin market in
product category was 242.9 kilotons in 2015 and is estimated to reach a
total volume of 424.8 kilotons by 2025
- The industry in Asia Pacific is projected to witness
substantial growth over the forecast period owing to various developments
across major economies, especially in the leather manufacturing and wooden
products market. The regional market is expected to grow at a CAGR of 6.8%
from 2016 to 2025.
- Key players of the industry include, Tannin
Corporation, S.A. Ajinomoto OmniChem, W. Ulrich GmbH, and Laffort S.A.
These major players are often indulged in joint ventures, mergers &
acquisitions, in order to gain market, share and expand their product portfolio
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
Grand View Research has segmented the global tannin market on the basis
of source, product, application, and region:
Source
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Plants
- Brown
Algae
Product
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Hydrolysable
- Non-hydrolysable
- Phlorotannins
Application
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Leather
Tanning
- Wine
Production
- Wood
Adhesives
- Anti-corrosive
Primers
- Others
Regional
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- France
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Middle
East & Africa
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-tannin-market
www.grandviewresearch.com/press-release/global-tannin-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
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