Tannin Market to surpass $4.9 Bn by 2032, Says Global Market Insights Inc.
Global Market Insights Inc.
Major tannin market participants include Tannin Corporation, Silva Team S.p.A., Laffort SA, Tanin Extract, Zhushan County Tianxin Medical and Chemical Co., Ltd., S.A. Ajinomoto OmniChem N.V., W. ULRICH GmbH, Ever s.r.l.
Selbyville, Delaware, June 12, 2024 (GLOBE NEWSWIRE) —
The tannin market valuation is projected to cross USD 4.9 billion by 2032, as reported in a research study by Global Market Insights Inc.
The growing demand for natural ingredients is a major growth factor in the market. According to SYMEGA, one in four consumers prefer clean branded products to make healthier choices.
As consumers increasingly prefer natural and sustainable products, the demand for vegetable tannins is growing significantly. Behind this trend is a growing awareness of health and environmental issues, which forces industries to look for alternatives to synthetic additives. Known for their natural origin and versatile applications, tannins are becoming the preferred choice in several end-use industries, including food and beverage, pharmaceuticals, and cosmetics. As the demand for natural ingredients continues to grow, the market is witnessing continued growth fueled by consumer and industry preferences.
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The non-hydrolyzed tannins market will exhibit significant growth up to 2032, as non-hydrolyzed tannins offer unmatched performance in a wide range of applications, from leather manufacturing to pharmaceuticals. Their inherent resistance to degradation ensures extended lifespan and performance, making them indispensable in industries where product integrity is of the utmost significance. As consumer preferences shift towards sustainable and environmentally friendly solutions, the demand for non-hydrolyzable tannins will continue to grow, driving innovation and market expansion.
The wine and beverage segment will capture a large share of the tannin market till 2032, as tannins play a significant role in shaping flavor profiles, improving stability, and improving product quality. Tannins meet the changing needs of wine and beverages and offer unparalleled excellence and value. By taking advantage of the natural properties of tannins, manufacturers can achieve optimal clarity, structure, and balance in their products, which will delight consumers with unforgettable sensory experiences, thus accelerating segment growth.
Europe tannin market will grow steadily through 2032, as tannins find application in several industries, such as food and beverages, pharmaceuticals, and cosmetics. In Europe, where quality and durability are strongly emphasized in industries, the demand for tannins is significant. They are used, for example, in winemaking, leather tanning, and pharmaceutical products. The market reflects the region’s commitment to innovation and excellence in the use of natural ingredients for various purposes.
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Leading companies in the tannin market include Tannin Corporation, Silva Team S.p.A., Laffort SA, Tanin Extract, Zhushan County Tianxin Medical and Chemical Co., Ltd., S.A. Ajinomoto OmniChem N.V., W. ULRICH GmbH, Ever s.r.l. Their key growth strategies include product innovation, where companies invest in R&D to develop new tannin-based formulations to meet changing consumer and industry needs.
In addition, strategic partnerships and collaborations play a key role, enabling companies to access new markets, technologies, and distribution channels. Expanding the market both geographically and across application sectors continues to be a priority, encouraging companies to explore hitherto untapped areas and expand their product portfolio.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Tannin Market Insights
3.1 Industry ecosystem analysis
3.2 Technology & innovation landscape
3.3 Regulatory landscape
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.2 Industry pitfalls & challenges
3.5 Growth potential analysis
3.6 Porter’s analysis
3.6.1 Supplier power
3.6.2 Buyer power
3.6.3 Threat of new entrants
3.6.4 Threat of substitutes
3.6.5 Industry rivalry
3.7 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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