According to the latest report by IMARC Group, titled “Wood Vinegar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global wood vinegar market size reached a value of US$ 4.33 Billion in 2021. Wood vinegar, also known as wood acid, is a common organic farming and traditional agriculture product for eliminating pests and improving crop yields. This dark liquid is produced by utilizing wood and other biomass materials, through a destructive distillation process. In addition to 70-90% water with some organic content, it is primarily composed of methanol, acetone, and acetic acid. As a natural food additive and preservative, it prevents the growth of microbes in food, making it a great alternative to synthetic pesticides and fertilizers.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Wood Vinegar Market Trends:
The global market is majorly driven by the escalating demand for natural ingredient-based fertilizers as alternatives to chemical pesticides. This can be attributed to the increasing popularity of organic farming practices due to the growing awareness regarding the adverse effects of chemical pesticides and fertilizers. The growing emphasis on a healthier lifestyle, particularly among younger generations, is driving the demand for bio-based and organic products, thereby fueling the market growth. In addition to this, continual technological advancements in the production method are also providing an impetus to the market. With the growing interest of consumers in organic personal care products, wood vinegar is becoming a more popular ingredient in the formulation of sunblock lotions and soaps, which, in turn, is contributing to the market. Some of the other factors creating a positive market outlook include rapid urbanization, growing awareness regarding health and fitness, considerable growth in the agricultural sector, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.39 Billion by 2027, exhibiting a CAGR of 6.50% during 2022-2027.
- On the basis of the application, the market has been divided into agriculture, animal feed, food, medicinal and consumer products, and others.
- Based on the pyrolysis method, the market has been segmented into slow pyrolysis, fast pyrolysis, and intermediate pyrolysis.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Ace (Singapore) Pte Ltd, Applied Gaia Corporation, Byron Biochar, Doi & Co. Ltd., Nettenergy B.V., New Life Wood Vinegar, Sane Shell Carbon Private Limited, Tagrow Co. Ltd., Taiko Pharmaceutical Co. Ltd., and VerdiLife.
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