22nd August 2019 – The global Wood
Vinegar Market size is expected to value at USD 6.6 million by 2025.
The market is subject to witness a substantial growth due to the rising
initiatives taken by local governments across the globe involving adoption of
organic farming methods to improve overall crop yield. Rapid growth associated
with organic farming mainly in developing economies to meet rising demand of
the growing population is one of the key driver for the sustained growth of the
wood vinegar industry in recent years. Wood vinegar is commonly identified as a
natural extract derived from woods, is considered as ideal choice in comparison
with the animal feed and natural pesticides in agriculture pesticide segment,
is key factor responsible for the growth of the market over forecast period.
Wide range of application of the wood
vinegar includes agriculture and animal husbandry sector, and as a nutrient
supplement. Wood vinegar is mainly utilized by farmers and livestock producers
in order to improve overall agriculture production with the help of bio
pesticides. Globally, the wood vinegar market is predicted to grow at CAGR of
6.7% in forecast period, providing numerous opportunities for market players to
invest for research and development in the wood vinegar industry.
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With the rising adoption of wood vinegar
in the agriculture as a soil enhancer and organic pesticide, is expected to
generate highest market share in the agriculture segment. The need for
bio-degradable and non-hazardous chemicals in farming is on the rise due to
numerous governmental initiatives, such factors are propelling growth of the
wood vinegar market in coming years. Subsequently, rising popularity of the
wood vinegar globally and growing approval for its regular use are attributing
to the market expansion over the forecast period. Also, large-scale
availability of the base material is enabling local farmer to adopt and produce
wood vinegar domestically, is pertaining to the market growth as well.
Specially, farmers who cannot afford premium synthetic chemicals, wood vinegar
serves as an ideal choice.
Influence of organic farming on farmers
is on the rise as it offers essential economic stimulus and poverty alleviation
by creating a sustainable agricultural yield to provide excess of income from
the available farm size and conditions. With an addition of essential economic
value for farmers, number of government across the globe are directing the
organic farming initiatives at local, regional, and international stages.
Adoption of different methodologies during the production of the bio-mass is
significantly impacting growth of the market in recent years. Though, cheaper
price associated with production of the non-biomass based products is expected
to hamper growth of the market in coming years.
Wood vinegar also referred as
pyroligneous acid or mokusaku, is produced and used in organic farming with the
help of traditional methods. Wood vinegar or the liquid fuel is derived from
bio-mass by carbonization, and consists of as much as two hundred organic
variants such as acetic acid and formaldehyde. Primary variants such as acetic acid
acts as a soil disinfectant, while methanol is influential in increasing
overall crop yield by minimizing consummation of water. Similarly, phenols,one
of the primary variant of the wood vinegar acts as an antioxidant.
The wood vinegar market is divided into
regional market segment such as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the adoption of latest methodologies in the agriculture sector
to improve overall crop yield and existence prominent industry players in the
region. Asia-Pacific region is predicted to hold major market share in the wood
vinegar industry with massive growth in forecast period.
Countries such as India, China and
Australia are leading the Asia-Pacific industry with growing use of the wood
vinegar as a food additive and in animal feed coupled with significant
investment by industry players considering potential for sustained growth in
the region. The key players in the wood vinegar market are Vinegar Australia
Co., Sort Of Coal Chemicals, VerdiLife Ltd., Taiko Pharmaceutical Corporations,
Nettenergy B.V., and Applied Gaia Co.
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