North America Tannin Market

North America Tannin Market Size, Share, Growth (2023-2028)

North America Tannin Market size was estimated at USD xx million in 2023 and is expected to reach over USD xx million by 2028 with a remarkable CAGR over the outlook period from 2023 - 2028

Recent Developments:

1. In June 2017, Tannin Corporation completed the purchase of Marden Wild Corporation, a renowned maker of high-quality tanning oils and fatty liquors. This acquisition should help the company expand its product portfolio and thus increase its customer base.

2. In October 2018, Tannin Corporation launched its two new Wax and Fat Liquor segments. This launch helped the company expand its product portfolio and gain a competitive advantage over its other competitors.

3. In April 2013, TANAC SA presented its leather tanning and retanning products such as SYNTAC CA and SYNTAC DC at APLF 2013, a leather fair in Hong Kong. This helped the company present its products on a large scale and thus attract more customers during the forecast period.

North America Tannin Market Drivers and Restraints:

The increasing demand for tannin in the leather industry is the main driver of growth in the North American tannin market. Growing demand from the wine industry and rising disposable incomes, particularly in developing regions, are supporting market growth. Consumers consume more and more alcohol as a result of higher living standards, higher disposable incomes and better lifestyles. Growing demand for luxury goods, cars with luxurious leather interiors, clothing and footwear is expected to stimulate the local market during the forecast period. Demand from the leather and pharmaceutical industries are increasing due to rising per capita income and the presence of major players in the area. The three main forms are hydrolyzable, non-hydrolyzable and florotannins. These tannins have several components like alkaloids, amino acids, and proteins, which made them an ideal choice for various industries, such as winemaking, leather tanning, and so on. Tannin extracts obtained from oaks, quebracho and mimosas are used for the manufacture and treatment of leather.  New emerging markets and the demographics of emerging consumers would offer growth opportunities for the North American tannin market in the coming years.

Market Segmentation

• source

• type

• application.

In terms of source, the tannin market can be forked with plant algae and brown algae. Depending on the type, the tannin market can be divided into hydrolyzable and non-hydrolyzable. Non-hydrolyzable tannin is also called condensed tannin.

Based on the application, the tannin market is fragmented into leather processing, wine production, wood adhesives and others. Tannin is the ideal choice for the making of different inks due to its ability to develop dark blue or green solutions with the use of iron salts.

Impact of COVID-19 on North America Tannin Market:

The COVID-19 pandemic had a huge impact on the global food industry as several nations are closing restaurants and bars to control the virus spread. Food industry-related sectors like food processing, alcohol production, food and beverage transportation, fishing, and agriculture are mainly influenced by the shutdown across the world. In many places, panic purchases have resulted in shortages. There have been interruptions in the supply chain of some products; for example, many hand sanitizer bottle hand pumps were imported into the United States from China and were less available. For most food products in the United States, there has been a normal replenishment, but panic purchases causing empty shelves have contributed to consumers' drive to stock up. Food retailers were among the worst affected by the coronavirus, but a few companies could benefit from it at least in the short term.

Regional Analysis

The North American Tannin market is mainly studied in the areas of the United States, Canada, Mexico, and rest of North America. The North American region has the second-largest tannin market after Europe. Demand for tannins from the leather industry is one of the main reasons to positively stimulate the growth of the tannin market in North America. Growing alcohol consumption and growing demand for leather products are expected to continue to be key factors for the industry. The North American region is characterized by the presence of important players, which is expected to stimulate industry growth during the predicted period.

Key Players

• Tannin Corporation

• S.A. Ajinomoto OmniChem

• W. Ulrich GmbH and Laffort S.A