Global Food Grade Tannic Acid Market Worth USD 1269.17 Million by 2033 | CAGR of 5.72%
Category: Food & BeveragesGlobal Food Grade Tannic Acid Market Worth USD 1269.17 Million by 2033
According to a research report published by Spherical Insights & Consulting, the Global Food Grade Tannic Acid Market Size is Expected to Grow from USD 727.35 Million in 2023 to USD 1269.17 Million by 2033, at a CAGR of 5.72% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the "Global Food Grade Tannic Acid Market Size, Share, and COVID-19 Impact Analysis, By Source (Synthetic and Plant Extracts), By Form (Liquid and Powder), By Application (Pharmaceuticals, Beverages, Cosmetics, and Food Additives), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023-2033 "Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/food-grade-tannic-acid-market
The food grade tannic acid market is a growing industry that produces and commercializes tannic acid, a water-soluble polyphenolic compound found in plant extracts and common dietary sources. Its antimicrobial properties extend the shelf life of certain foods and are used in food processing to prolong their shelf life. Tannic acid powder has gained significant appeal in the food and beverage industry due to its versatility and natural properties. It serves various purposes in beer clarification, soft drinks and juices, and wine, providing natural preservation, flavor enhancement, and functional benefits. The shift toward sustainable and plant-based ingredients aligns with tannic acid's natural origin, and increased consumer knowledge about its health benefits leads to market growth. The market is driven by the increasing demand for natural and organic food products, as well as the shift toward sustainable and plant-based ingredients. However, food safety regulations may hinder market growth.
The plant extracts segment held a substantial share in 2023 and is predicted to grow at a significant CAGR during the predicted period.
Based on the source, the global food grade tannic acid market is categorized as synthetic and plant extracts. Among these, the plant extracts segment held a substantial share in 2023 and is predicted to grow at a significant CAGR during the predicted period. This is driven by increasing aesthetic living, consumer preference for natural ingredients, plant-based diets, and advancements in extraction technology.
The powder segment accounted for a substantial share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.
Based on the form, the global food grade tannic acid market is categorized as liquid and powder. Among these, the powder segment accounted for a substantial share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. This is attributed to its precision dosing, ease of administration, extended shelf life, enhanced solubility, cost-effectiveness, reduced microbial contamination risk, and consumer compliance.
The beverages segment accounted for the greatest share in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe.
Based on the application, the global food grade tannic acid market is categorized as pharmaceuticals, beverages, cosmetics, and food additives. Among these, the beverages segment accounted for the greatest share in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe. Tannic acid, a plant-based component in juices, beer, and wine, is gaining popularity due to its antioxidant and antimicrobial properties. The growing wine and beer industries are driving this demand, as it enhances clarity, stabilizes hue, and refines flavor.
North America is expected to hold the greatest share of the global food grade tannic acid market over the forecast period.
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North America is expected to hold the greatest share of the global food grade tannic acid market over the forecast period. The demand for natural alternatives like tannic acid is increasing due to consumer awareness of food quality and safety, strict regulations from agencies like the FDA and EFSA, and the rise of clean-label products and natural ingredients in the food and beverage industry. Tannic acid serves as a clarifying agent in drinks like wine and beer, and its acceptance is boosted by regulatory backing and its antioxidant and preservative qualities, particularly in the United States and Canada.
Asia Pacific is predicted to grow at the fastest CAGR throughout the estimated period. This is owing to the expanding food and beverage industry, with China and India being key contributors due to their large populations, disposable incomes, and health consciousness. Major tannic acid manufacturers and abundant raw materials support market growth, with governments promoting safer, natural additives and tannic acid's GRAS status in many countries.
Major key players in the global food grade tannic acid market are Zhushan County Tianxin Medical & Chemical Co., Ltd., Polson Ltd., Ajinomoto Co., Inc., Hawkins Watts Limited, Jiangsu GuoTai International Group GuoMao Co., Ltd., Tanac S.A., Ueno Fine Chemicals Industry, Ltd., Tannin Corporation, Fisher Scientific International, Inc., Kingherbs Limited, Hubei Tianxin Biotech Co., Ltd., Laffort SA, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global food grade tannic acid market based on the below-mentioned segments:
Global Food Grade Tannic Acid Market, By Source
- Synthetic
- Plant Extracts
Global Food Grade Tannic Acid Market, By Form
- Liquid
- Powder
Global Food Grade Tannic Acid Market, By Application
- Pharmaceuticals
- Beverages
- Cosmetics
- Food Additives
Global Food Grade Tannic Acid Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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