Global Wood Vinegar Market is expected to grow at a CAGR of 5.7% during the forecast period from 2019-2025
Global Wood Vinegar Market 2019, Global Wood Vinegar Market Growth, Global Wood Vinegar Market Trends and Analysis,Wood Vinegar
Global Wood Vinegar Market by Method (Slow Pyrolysis, Intermediate Pyrolysis, Rapid Pyrolysis), Application (Agriculture, Animal Feed, Pharmaceutical, Other), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
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Leadersin the industry are DongyingRunyi Biotechnology Co. Ltd., Merck KGaA (Sigma Aldrich), Canada Renewable Bioenergy Corp., Kerry Group PLC, Frutarom Industries Ltdamong otherswhichare offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share
The method segment is classified into slow pyrolysis, intermediate pyrolysis and rapid pyrolysis. The slow pyrolysis segment is dominating the market and valued around USD635.25 Million in 2017.It is due to its better characteristics including low temperature, long vapor resistance time and slow heating rate. Slow pyrolysis also provide better productivity of wood vinegar, char and other products compared to intermediate and fast pyrolysis. The application segment includes agriculture, animal feed, pharmaceutical, personal care and cosmetic, food & beverages, and other. The agriculture industry is dominating the market with the highest share of 29.60% in 2017. It is due towide use of wood vinegar in pesticides and fertilizers for the prevention of insect attack on crops. By mixing it with manure, it reduces odor and helps in productive composting techniques. It also helps in growth of a wide range of enzymes and microbes acting as a catalyst and provides effective nutrient absorption and cell growth in crops. When used as a feed supplement with charcoal in poultry, it removes several bacteria, which causes gastric disease in poultry animals. It also improves the egg lying feature of hens
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Rising need for organic food, bio based agricultural inputs and increased use of the wood vinegar in animal feed and medical applicationsis a major factor driving the market. Also, the increase in demand for chemicals-free pesticides to improve the soil fertility is also propelling the growth of the market. Also, poverty alleviation is another factor driving the market. But stringent regulations of governments on the production and distribution of charcoal and its derivatives limiting overall charcoal production, thereby, reducing production of wood vinegar may hamper the growth of market. However, there are ample amount of opportunities for the growth of wood vinegar market which mayboost the market in coming years.
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