The Asia Pacific Tannin Market would witness market growth of 6.4% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 639.16 Hundred Tonnes, showcasing a growth of 3.5% (2019-2022).
Hydrolysable tannins are characterized by their chemical structure, which includes a carbohydrate core, typically glucose, esterified with gallic acid or related phenolic compounds. These are extracted from these botanical sources using techniques like maceration, solvent extraction, or hydrolysis, resulting in extracts that are further processed for various applications. Therefore, the China Market consumed 91.77 hundred tonnes of Hydrolysable tannins in 2022.
The China market dominated the Asia Pacific Tannin Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $240.3 Million by 2030. The Japan market is registering a CAGR of 5.7% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 7% during (2023 - 2030).
Tannins find applications in animal feed additives and nutritional supplements for livestock and poultry. They promote animal health, feed efficiency, and growth performance by improving digestibility, nutrient absorption, and gut health. Its forage crops are utilized to reduce methane emissions and mitigate parasitic infections in animals. The increasing animal feed industry translates into its higher demand.
Adoption trends in the market are influenced by various factors shaping consumer preferences, industry dynamics, and technological advancements. Consumer preferences are shifting toward natural and sustainable elements, including textiles, food & drink, cosmetics, and pharmaceuticals. As natural compounds derived from plant sources, these align with this trend and are increasingly favoured by consumers seeking eco-friendly and ethically sourced products.
The growing leather industry in India may lead to the diversification of such products to meet the specific requirements of tanners and leather manufacturers. According to the National Investment Promotion & Facilitation Agency, India’s leather sector produces 13% of the world’s leather hides and skins. It handles a robust annual production of about 3 Bn sq. ft. of leather. India has abundant raw materials, with access to 21% of the world’s cattle and buffalo and 11% of the world’s goat and sheep population. Thus, the increasing wastewater treatment plains and growing leather industry in the region propel the market’s growth.
Free Valuable Insights: The Global Tannin Market is Predict to reach $ 3.6 Billion by 2030, at a CAGR of 5.6%
Based on Source, the market is segmented into Plants, and Brown Algae. Based on Product, the market is segmented into Hydrolysable, Non-hydrolysable, and Phlorotannin. Based on Application, the market is segmented into Leather Tanning, Wood Adhesives, Wine Production, Anti-corrosive Primers, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Source (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Product (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Application (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Country (Volume, Hundred Tonnes, USD Billion, 2019-2030)
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