The Europe Tannin Market would witness market growth of 5.0% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 883.32 Hundred Tonnes, showcasing a growth of 2.3% (2019-2022).
Brown algae, also known as Phaeophyceae, are a significant source of tannins in the market. These marine macroalgae contain various types of these, including phlorotannins, which are unique to brown algae. Phlorotannins are polyphenolic compounds with antioxidant properties, making them valuable in industries such as cosmetics, pharmaceuticals, and food supplements. Therefore, the Germany Market consumed 92.29 hundred tonnes of Brown algae in 2022.
The Germany market dominated the Europe Tannin Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $324 Million by 2030. The UK market is exhibiting a CAGR of 4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.7% during (2023 - 2030).
Tannins possess medicinal properties and are used in pharmaceutical formulations for their antioxidant, anti-inflammatory, and antimicrobial effects. They are incorporated into herbal remedies, dietary supplements, and traditional medicines to treat various ailments, including digestive disorders, skin conditions, respiratory infections, and cardiovascular diseases.
Tannins are utilized in cosmetics and personal care products for their astringent, antioxidant, and skin-conditioning properties. They are incorporated into skincare formulations, hair care products, oral hygiene solutions, and deodorants to improve skin health, hair condition, and overall product performance. The growing cosmetics industry is increasing their demand within the industry.
As the wood-based industry in Europe grows, there is a higher demand for wood preservation techniques to enhance the durability and longevity of wood products. These are utilized as natural wood preservatives because they inhibit decay, deter pests, and resist fungal growth. According to Eurostat, the EU has been a net exporter of roundwood in the past few years exports to non-EU countries surpass imports by 12.5 million m3 in 2022. Therefore, the expansion of the region’s wood-based industry is propelling the market’s growth.
Free Valuable Insights: The Global Tannin Market will Hit USD 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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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