Market Size of Tannin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Tannin Market Analysis
The global tannin market is growing at a CAGR of 6.0% during the forecast period (2020-2025).
- The growth of the tannin market can be attributed to its rising usage as an additive in the beverage industry such that beer, tea, coffee, and juice owing to its curing properties of significant maladies like cancer, HIV, diabetes. Also, its extensive usage in leather manufacturing and wood adhesives is fueling the tannin market.
- Geographically, Europe accounts for the largest share in the global market, followed by North America owing to the high demand for wine industries and the rising demand for leather commodities in these regions. Asia-Pacific, followed by Central and South America and The Middle East & Africa are also anticipated to show significant growth.
