South Tannin Market, By Tannin Type (Gallotannins (GTS), Ellagitannins (ETS), Proanthocyanidins (PAS) Or Condensed Tannins (CTS) and Complex Tannins), Product Type (Hydrolysable, Non-Hydrolysable and Phlorotannin), Source (Plant Source, Brown Algae Source and Synthetic Source), Form (Powder and Liquid), Application (Beverages, Food, Dietary Supplements, Pharmaceutical, Animal Nutrition, Wood Adhesive, Leather Tanning, and Others), Country (Brazil, Argentina, Colombia, Peru, Chile, Uruguay, Paraguay and Rest of South America) – Industry Trends and Forecast to 2029
Market Analysis and Insights: South America Tannin Market
South America tannin market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with the CAGR of 5.9% in the forecast period of 2022 to 2029 and expected to reach USD 446.57 million by 2029.
Tannin is present in wood, stems, barks, leaves, roots, and fruits of any plant species. However, some plants, being richer in tannin, are the most used raw materials for industrial level extraction such as chestnut, quebracho, Tara and Oak Galls. Tannins are used in various applications and industries such as food, beverages, pharmaceutical, leather industry, and others as they have many beneficial properties.
Growing applications of tannins across industries are driving the tannin market. In addition, an increase in wine consumption will also drive the growth of the tannin market. Whereas the major reasons for restraint of the tannin market are, higher stiff competition between market players and awareness about the side effects of tannins.
The demand for the tannins is increasing for which manufacturers are now more focused and they are involved in the new product launch, promotion, awards, certification, and event participation in the market. These decisions are ultimately enhancing the growth of the market.
This South America tannin market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
South America Tannin Market Scope and Market Size
South America Tannin market is segmented into five notable segments which are bifurcated on tannin type, product type, source, form and application.
- On the basis of tannin type, the tannin market is segmented into gallotannins (GTS), ellagitannins (ETS), proanthocyanidins (PAS) or condensed tannins (CTS) and complex tannins. In 2022, the proanthocyanidins (PAS) or condensed tannins (CTS) segment is anticipated to dominate the South America tannin market due to growing demand for proanthocyanidins (PAS) or condensed tannins (CTS) due to its medicinal properties and wide applications in various industries.
- On the basis of product type, the tannin market is segmented into, hydrolysable, non-hydrolysable and phlorotannin. In 2022, the non-hydrolysable segment is anticipated to dominate the South America, tannin market due to the growing awareness about the pharmaceutical use of non-hydrolysable tannins and their demand in the market.
- On the basis of source, the tannin market is segmented into plant source, brown algae source and synthetic source. In 2022, the plant source segment is anticipated to dominate the market due to the easy availability of plant-based or tannins extracted from the plant. In addition, increased demand for plant-based food products also drives the market growth.
- On the basis of form, the tannin market is segmented into powder and liquid. In 2022, the powder is anticipated to dominate the South America tannin market due to its affordable prices and easy availability.
- On the basis of application, the tannin market is segmented into beverages, food, dietary supplements, pharmaceutical, animal nutrition, wood adhesive, leather tanning and others. In 2022 leather tanning is expected to dominate the market owing to increased demand for various types of tannins in the leather industry because customers are demanding high leather bags, purses, shoes, among others owing to their improved lifestyle.
South America Tannin Market: Country Level Analysis
Tannin market is analysed and market size information is provided by country, tannin type, product type, source, form and application as referenced above. The countries covered in the tannin market report are Brazil, Argentina, Colombia, Peru, Chile, Uruguay, Paraguay and Rest of South America.
Brazil is anticipated to dominate the market due to increased demand of tannin in the country for wine manufacturing. Argentina is expected to grow in the market due to the increased demand for vegetable tannin across the country. Colombia is also one of the growing market due high demand of tannin in beverages industry.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rise in Demand for Tannin
South America tannin market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in tannin and changes in regulatory scenarios with their support for the Tannin market. The data is available for historic period 2011 to 2020.
Competitive Landscape and South America Tannin Market Share Analysis
South America tannin market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the South America tannin market.
Some of the major players operating in this market are TANAC, Eaton, Ajinomoto OmniChem, Tanin d.d., Esseco Srl, Balchem Inc. and Chemtan Company, Inc. Many expansions are also initiated by the companies worldwide which are also accelerating the growth of South America Tannin market.
- In July 2021, Chemtan announced the launch of the Green Tan system featuring Chemtan N-75, a unique deliming agent for reducing nitrogen levels up to 80% in the float and wastewater effluent. This launch helped the company to enhance its product portfolio
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organization to improve their offering for tannin market through expanded product range.