Synthetic Tannins Market Trends

Growth Drivers

• Growing pharmaceutical industry - Tannins are useful in the pharmaceutical industry and are now regarded as an essential ingredient having both internal and external effects in a range of medications, nutraceuticals, and medicinal preparations.
  
  As per data, the global pharmaceuticals industry is expected to reach over USD 1475 billion in 2028.
• Rising applications in dermatology - Synthetic tannin are especially useful materials because they are recognized adjuvants in the treatment of superficial skin illnesses that cause itching, inflammation, and tears.
  
  They have also been utilized as alternatives to steroid-based anti-inflammatory treatments, particularly for pediatric dermatoses, one of the most typical presentations in a dermatology clinic, which are indicative of children's hygiene and general health.
  
  For instance, in 2022, there were over 220 million people worldwide who suffered from atopic dermatitis.
• Growing demand for food - Synthetic tannin can be used in tea and other plant-based meals and beverages as an auxiliary owing to their anti-inflammatory and antioxidant properties.
  
  According to the World Resource Institute, the majority of the anticipated rise in food demand between 2010 and 2050 is driven by the projected growth in population of 2.8 billion people.

Challenges

• Environmental concerns - The market for synthetic tannin is impacted by regulatory scrutiny and environmental concerns since it may cause dangerous chemicals to leak into the environment, contaminating the air and water.
  
  Besides this, there are numerous extremely damaging environmental practices associated with the leather business, as leather tanning produces a lot of waste, contaminates waterways, and causes deforestation.
• The availability of natural alternatives may limit the adoption of synthetic tannin, as consumers may prefer eco-friendly products.