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.
The global wood vinegar market is expected to grow from USD 1,340.2 Million in 2017 to USD 2,092.4 Million by 2025 at a CAGR of 5.7% during the forecast period from 2018-2025. Increase in demand of wood vinegar since it helps to improve plant growth, maintains soil fertility, and enhances generation seedis one important factor for the growth. Also, poverty alleviation is also stimulating the growthof the market as wood vinegar can be produced at small as well as large scale in villages, using local feedstock.
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The slow pyrolysis segment is dominating the market with the share of 47.40% in 2017
The method segment is classified into slow pyrolysis, intermediate pyrolysis and rapid pyrolysis. The slow pyrolysis segment is dominating the market in 2017. Slow pyrolysis method hold largest market share in 2017 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 agriculture segment valued around in USD 396.69 Million in 2017
The application segment includes agriculture, animal feed, pharmaceutical, personal care and cosmetic, food & beverages, and other. The agriculture industry is dominating the market in 2017. It is due to wide 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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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. TheNorth America region is dominating the market with the highest share of 47.50% in 2017. The North America region is dominating the market owing to the high use of convenience and processed food, growing awareness about food safety, increased demand for bio-based agriculture fertilizers and broad usage of wood vinegar in Japan and other regions
The major players ofmarketinclude DongyingRunyi Biotechnology Co. Ltd., Merck KGaA (Sigma Aldrich), Canada Renewable Bioenergy Corp., Kerry Group PLC, Frutarom Industries Ltd., Agribolics Technology SdnBhd, VerdiLife LLC., Red Arrow International LLC, B&G Foods, Inc., Baumer Foods, Inc., TAGROW CO., LTD., and New Life Wood Vinegar.
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