Global wood vinegar market expected to reach approximately USD 1796 million by 2024, growing at a CAGR of around 4.7% between 2018 and 2024. Wood vinegar is used in organic farming due to its application as a biofertilizer and biopesticides. It is used as an additive in various food products in order to produce smoked food products.
The report covers a detailed analysis and forecast for the wood vinegar market on a global and regional level from 2015 to 2024. The study offers historical data for 2015, 2016, and 2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study comprises a comprehensive view of the market with the review of market drivers, restraints, and opportunities. It also provides the level of impact of drivers and restraints on the wood vinegar market between 2015 and 2024.
The study included a detailed competitive scenario and type portfolio of key vendors. The report evaluates Porter’s Five Forces model to analyze the different factors affecting the growth of the wood vinegar market. Moreover, the study encompasses a market attractiveness analysis, which provides the most attractive and least attractive market segments information by application, method, and region.
Agriculture, animal-feed, pharmaceutical, personal care and cosmetic, food & beverages, and others are the key application in the wood vinegar. On the basis of method segment, the market can be classified into slow pyrolysis, intermediate pyrolysis, and rapid pyrolysis. Major regional segment analyzed in this report include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa with its further bifurcation into major countries including the U.S., Germany, France, the UK, China, Japan, India, and Brazil.
The report provides detailed competitive outlook including market share and company profiles of the key players operating in the global market. Some of the key participants in the report include Canada Renewable Bioenergy Corp., Tagrow Co., Ltd., Byron Biochar, Nettenergy BV, ACE Pte Ltd., Vinegar Australia, Sort Of Coal, VerdiLife LLC, Taiko Pharmaceutical Co., Ltd., and others. This report segments the global wood vinegar market as follows:
Global Wood Vinegar Market: Application Segment Analysis
Global Wood Vinegar Market: Method Segment Analysis
Global Wood Vinegar Market: Regional Segment Analysis
Wood vinegar is known as the pyroligneous acid in chemistry. It was first investigated by Johann Rudolph Glauber a German chemist. It is a brown colored flavored liquid produced with the help of distillation of wood and other plant material in the absence of air. The main chemical components of pyroligneous acid are acetic acid, formaldehyde, and methanol. Various types of woods are used for producing various kinds of wood vinegar including eucalyptus, oak, bamboo, mangrove, coconut shell, and apple trees.
Wood vinegar is a natural inhibitor and shows various bioactivities which make it suitable to be used as an antifungal, repellent and termiticidal applications. It shows excellent antimicrobial activity against various microorganisms. In addition, it shows significant antioxidant and antibacterial activity. Due to its medicinal properties, wood vinegar has a huge application in the pharmaceutical industry globally. Thus it is anticipated to drive the demand for wood vinegar market during the forecast period.
Wood vinegar has various agriculture applications. The process of manufacturing wood vinegar is sustainable. The acetic acid in wood vinegar acts as soil disinfectant and methanol increases the crop yield. Hence it can be used as animal fodder, organic pesticide & fertilizer and can be the attractive replacement for the synthetic chemicals. Increasing demand for organic pesticides in order to maintain the soil fertility and contamination free animal feed is driving the growth of wood vinegar globally.
Based on the application, the wood vinegar market is segmented into agriculture, animal feed, pharmaceutical, personal care and cosmetic, food & beverages, and others. Among which agriculture segment held the dominant position in wood vinegar market due to huge demand for organic animal feed, biopesticides, and biofertilizer.
Based on method, wood vinegar market is segmented into slow pyrolysis, intermediate pyrolysis, and rapid pyrolysis. Among which slow pyrolysis holds the largest market share due to its advantages in terms of yield and quality.
Growing pharmaceutical and food industry globally is expected to impact positively the global wood vinegar market. Moreover, increasing cosmetic and personal care industry is projected to drive the demand for wood vinegar in the near future. The emergence of various skin care products such as anti-aging, anti-wrinkle, and anti marks cream is anticipated to fuel the market growth over the years to come. Growing awareness among the consumers regarding the harmful impact of dust, environment, and sunrays has benefited the uptake of various skin care products in several countries. However, government regulation on charcoal production is expected to hinder the wood vinegar market growth. Nonetheless, R&D initiatives to develop advanced products offer vast opportunities for the industry participants.
By geography, Asia Pacific estimated for the largest chunk of market share in terms of revenue in 2017. The industry is expected to be driven by increasing demand for biopesticides and biofertilizer in the countries such as India, China, and Japan. In terms of revenue, Asia Pacific was followed by Europe and North America. North America is projected to show insignificant growth in the years to come. This is mainly due to demand for wood vinegar in animal feed products and as a food additive has increased the growth of the wood vinegar market in North America.
The global wood vinegar market is consolidated; the major players accounted for a significant share of the market in 2017. Some of the key companies have been investing in technological advancement, maintaining standards and product innovation in order to retain their dominance in the market. Some of the key players in the wood vinegar market are Canada Renewable Bioenergy Corp., Vinegar Australia Tagrow Co., Ltd., Byron Biochar, Taiko Pharmaceutical Co., Ltd., Nettenergy BV, ACE Pte Ltd., Sort Of Coal, VerdiLife LLC, and others.
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