Wood Vinegar Market Outlook
Wood
vinegar market size is projected to reach USD 0.08 billion by 2030, growing at
a 6.80% CAGR over the forecast period (2023-2030).
The liquid
obtained from pyrolysis process of fresh wood is known as wood vinegar. Wood vinegar
contains germicidal ingredients such as methanol & phenol, which leads to
strong germicidal effect on plants. Due to this, it improves the crop yield and
also improves seeds for germination.
Based on
pyrolysis method, the global wood vinegar market has
been segmented into slow pyrolysis, fast pyrolysis, and intermediate pyrolysis.
The slow pyrolysis segment is expected to garner the highest revenue share and
grow at the highest rate in the global wood vinegar market owing to the
increasing number of applications. Additionally, slow pyrolysis process
produces better quality of wood vinegar compared to fast and intermediate
pyrolysis. The wood vinegar is used in agriculture, animal feed, and food &
beverage industry.
By
application, the global wood vinegar market has been segmented into
agriculture, animal feed, food & beverages, and others. The agriculture
segment is expected to garner the highest revenue share of the global wood
vinegar market owing to the growing agriculture industry worldwide. It is used
as a bio-pesticides and fertilizer, as it has various benefits such as
improving soil quality, stimulating cell growth and strengthening leaves and
roots of the plants.
Regional Analysis
The global
wood vinegar market has been segmented by region, into North America, Europe,
Asia-Pacific, and Rest of the World.
Asia-Pacific
is expected to lead the global wood vinegar market due to growing preference
for organic pesticides in agriculture industry. Owing to this, governments in
Asian countries such as India, China, Australia, New Zealand and Japan are
promoting the organic farming culture.
The wood
vinegar market in North America is expected to be the fastest-growing during
the review period owing to the growing demand for bio fertilizers and
bio-pesticides. Wood vinegar is a bio-fertilizer, which aids to increase soil
microbial weight, improves soil, firmness, and preservation of fruit and also
to stimulate development of crops.
Segmentation
The global
wood vinegar market has further been segmented by pyrolysis method and
application.
By
pyrolysis method, the global wood vinegar market has been classified as slow
pyrolysis, fast pyrolysis, and intermediate pyrolysis.
The global
wood vinegar market has also been segregated, on the basis of application, into
agriculture, animal feed, food & beverages and others.
Key
Players
Some of the
key players in the global wood vinegar market are Ace Singapore Pte Ltd
(Singapore), Canada Renewable Bioenergy Corp (Canada), Nettenergy B.V.
(Netherlands), Tagrow Co., Ltd. (China), Byron Biochar (Australia), Red Arrow
International LLC (US), B&G Foods, Inc. (US), Baumer Foods, Inc.(US),
VerdiLife, LLC.(US), and Taiko Pharmaceutical Co.,Ltd. (Japan).
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