Vegetable Tanning Extracts Market

The article provides an in-depth analysis of the global market for vegetable tanning extracts, forecasting a decline in consumption and market performance over the next eight years. Data on consumption, production, imports, and exports is presented, highlighting key trends and insights into the market. Major exporting and importing countries are identified, along with trends in per capita consumption and price fluctuations. The analysis indicates a challenging market environment with varying growth rates and trends across different regions and market segments.

Market Forecast

Depressed by shrinking demand for vegetable tanning extracts worldwide, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -0.2% for the period from 2022 to 2030, which is projected to depress the market volume to 437K tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market value to $3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Tanning Extracts Of Vegetable Origin, Tannins And Their Salts Other Derivatives

In 2022, global consumption of tanning extracts of vegetable origin, tannins and their salts other derivatives contracted slightly to 444K tons, declining by -1.8% compared with the previous year's figure. Overall, consumption continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2021 when the consumption volume increased by 8%. Global consumption peaked at 683K tons in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

The global vegetable tanning extracts market size declined modestly to $2.7B in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a deep reduction. As a result, consumption reached the peak level of $5.7B. From 2014 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (87K tons), the United States (59K tons) and Italy (34K tons), with a combined 41% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +2.0%), while consumption for the other global leaders experienced a decline in the consumption figures.

In value terms, Japan ($1.4B) led the market, alone. The second position in the ranking was held by China ($444M). It was followed by the United States.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan amounted to -8.8%. In the other countries, the average annual rates were as follows: China (-0.7% per year) and the United States (+0.8% per year).

In 2022, the highest levels of vegetable tanning extracts per capita consumption was registered in Italy (581 kg per 1000 persons), followed by the United States (177 kg per 1000 persons), the UK (157 kg per 1000 persons) and Germany (155 kg per 1000 persons), while the world average per capita consumption of vegetable tanning extracts was estimated at 56 kg per 1000 persons.

In Italy, vegetable tanning extracts per capita consumption expanded at an average annual rate of +2.0% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (-2.4% per year) and the UK (-7.0% per year).

Production

World Production of Tanning Extracts Of Vegetable Origin, Tannins And Their Salts Other Derivatives

In 2022, production of tanning extracts of vegetable origin, tannins and their salts other derivatives increased by 4.2% to 405K tons, rising for the second year in a row after eight years of decline. In general, production, however, continues to indicate a abrupt decline. Global production peaked at 678K tons in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, vegetable tanning extracts production stood at $2.4B in 2022 estimated in export price. Overall, production, however, showed a deep slump. The pace of growth appeared the most rapid in 2013 when the production volume increased by 11%. As a result, production attained the peak level of $5.3B. From 2014 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (68K tons), the United States (53K tons) and South Africa (43K tons), with a combined 40% share of global production. Brazil, Indonesia, Italy, Japan, Germany, Nigeria, Argentina, the UK and Slovenia lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +3.8%), while production for the other global leaders experienced mixed trends in the production figures.

Imports

World Imports of Tanning Extracts Of Vegetable Origin, Tannins And Their Salts Other Derivatives

In 2022, global imports of tanning extracts of vegetable origin, tannins and their salts other derivatives dropped markedly to 157K tons, which is down by -18.3% against the previous year's figure. In general, imports recorded a slight shrinkage. The growth pace was the most rapid in 2021 with an increase of 43% against the previous year. As a result, imports reached the peak of 192K tons, and then reduced rapidly in the following year.

In value terms, vegetable tanning extracts imports expanded slightly to $379M in 2022. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 23% against the previous year. Over the period under review, global imports hit record highs at $395M in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, India (34K tons), distantly followed by China (19K tons), Italy (17K tons), Mexico (8.5K tons) and the United States (8.3K tons) represented the major importers of tanning extracts of vegetable origin, tannins and their salts other derivatives, together constituting 55% of total imports. Turkey (6.8K tons), Pakistan (5.5K tons), France (4.7K tons), Spain (4.4K tons), Germany (3.6K tons), Brazil (3.2K tons), the Netherlands (2.8K tons) and Bangladesh (2.5K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +23.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest vegetable tanning extracts importing markets worldwide were India ($81M), Italy ($46M) and China ($35M), together accounting for 43% of global imports. The United States, Mexico, France, Turkey, Germany, Spain, Brazil, Pakistan, the Netherlands and Bangladesh lagged somewhat behind, together accounting for a further 30%.

In terms of the main importing countries, the Netherlands, with a CAGR of +17.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average vegetable tanning extracts import price amounted to $2,407 per ton, surging by 26% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($2,937 per ton), while Pakistan ($1,370 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+3.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Tanning Extracts Of Vegetable Origin, Tannins And Their Salts Other Derivatives

In 2022, approx. 119K tons of tanning extracts of vegetable origin, tannins and their salts other derivatives were exported worldwide; shrinking by -8.4% against 2021. In general, exports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2021 when exports increased by 25%. The global exports peaked at 183K tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable tanning extracts exports fell modestly to $287M in 2022. Overall, exports saw a slight downturn. The pace of growth was the most pronounced in 2021 with an increase of 24%. The global exports peaked at $390M in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports By Country

South Africa represented the major exporter of tanning extracts of vegetable origin, tannins and their salts other derivatives in the world, with the volume of exports amounting to 40K tons, which was near 34% of total exports in 2022. Indonesia (19K tons) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (14%), Argentina (7.5%) and Slovenia (5.4%). The following exporters - Italy (4.7K tons), India (4.5K tons), Tanzania (2.7K tons), Turkey (2.3K tons) and Germany (2.1K tons) - together made up 14% of total exports.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of tanning extracts of vegetable origin, tannins and their salts other derivatives. At the same time, Turkey (+11.1%), Germany (+7.4%), Indonesia (+1.9%) and Slovenia (+1.8%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.1% from 2012-2022. India and Tanzania experienced a relatively flat trend pattern. By contrast, Italy (-4.4%), Brazil (-6.7%) and Argentina (-15.2%) illustrated a downward trend over the same period. While the share of South Africa (+13 p.p.), Indonesia (+7.4 p.p.), Slovenia (+2.5 p.p.) and Turkey (+1.5 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Brazil (-4.1 p.p.) and Argentina (-17.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($58M), Indonesia ($56M) and Brazil ($34M) appeared to be the countries with the highest levels of exports in 2022, with a combined 52% share of global exports. Italy, Slovenia, Argentina, Germany, India, Turkey and Tanzania lagged somewhat behind, together accounting for a further 28%.

Turkey, with a CAGR of +12.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average vegetable tanning extracts export price amounted to $2,422 per ton, growing by 6.2% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2014 an increase of 22% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($5,547 per ton), while India ($1,354 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+8.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform