09-May-2022 | Zion Market Research
The Wood Vinegar Market was worth around USD 6.4 million in 2021 and is estimated to grow to about USD 9.5 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.9 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
The destructive distillation procedure is used to make wood vinegar. It's also known as wood acid or pyroligneous acid. It's a dark liquid derived from wood and other biomass. Methanol, acetone, and acetic acid are the major components of wood vinegar. The wood vinegar market is expected to develop significantly in the forecast period owing to a variety of factors, including technological advancements in manufacturing methods, and increased demand. In addition, wood vinegar is also gaining popularity as a biofertilizer and biopesticide in agriculture, which is rising as a result of customer demand for organic foods. Moreover, throughout the projection period, an increase in the use of wood vinegar as an anti-protozoa, anti-bacterial, and the sterilizing agent is likely to present profitable prospects. With the rising meat consumption among consumers, livestock farmers are utilizing wood vinegar in animal feed additives to cut cholesterol levels while preserving meat quality, which is driving the growth of the market in the coming years. Wood vinegar is increasingly being used in animal feed for poultry and other animals such as sheep, cattle, and pigs in order to reduce the occurrence of gastrointestinal disorders in livestock, which directly affect egg and meat quality. Wood vinegar has an unpleasant smokey odor, which is typical of culinary items such as barbeque sauce, which are gaining global favor, the market for wood vinegar has grown globally. The lack of understanding of wood vinegar, on the other hand, is impeding the market's growth. Furthermore, in some locations, regulations on biomass wood-burning impede the expansion of the wood vinegar business.
The Wood Vinegar Market is categorized based on Pyrolysis Method, and Application. Based on Pyrolysis Method, the global market is distinguished into Slow pyrolysis, Fast pyrolysis, and Intermediate pyrolysis. Based on Application, the global market is distinguished into Agriculture, Animal feed, Food, medicinal, consumer products, and Others (including industrial sources for the production of acetic acid, tar & creosote production, and wastewater treatment)
Over the projection period, the market in North America dominated the global market, due to the rising acceptance of convenient and processed foods, high food safety awareness among individuals, and rising demand for bio-based agricultural fertilizers in various nations in these areas. The rising demand for organic food items in the area has led to an increase in the number of farmers adopting organic agricultural techniques, which is driving the market for biopesticides and bio-based fertilizers like wood vinegar in the agricultural sector. During the forecast period, the wood vinegar market in Asia-Pacific is expected to develop at the fastest rate. The rapidly increasing demand for biopesticides and biofertilizers is one of the primary drivers of worldwide market growth. This is because the region contains key countries such as China, Japan, Malaysia, and others. These nations have significant players and a long history of using slow pyrolysis processes to produce a variety of goods such as wood vinegar, charcoal, and other items.
Key players functioning in the Wood Vinegar Market include ACE (Singapore) Pte Ltd., Canada Renewable Bioenergy Corp., Nettenergy BV (Netherlands), TAGROW CO., LTD. (China), and Byron Biochar (Australia). Other players include New Life Agro (U.S.), Verdi Life (U.S.), Nakashima Trading Co. Ltd. (Japan), Penta Manufacturer (U.S.), and Doi & Co., Ltd (Japan).
Browse the full “Wood Vinegar Market By Pyrolysis Method (Slow pyrolysis, Fast pyrolysis, and Intermediate pyrolysis.) By Application (Agriculture, Animal feed, Food, medicinal, consumer products, and Others (including industrial sources for the production of acetic acid, tar & creosote production, and wastewater treatment))” Report at https://www.zionmarketresearch.com/report/wood-vinegar-market
Wood Vinegar Market is segmented as follows:
By Pyrolysis Method
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