Global Wood Vinegar Market: Overview
Wood vinegar is a pyroligneous acid and one of the product produced through pyrolysis, a chemical decomposition method. The organic materials such as sawdust, weeds, dry leaves and other forestry waste are decomposed at high temperature and pressure resulting in formation of wood vinegar. Wood vinegar is purely organic and widely used as fertilizer and pesticide in agriculture sector. Some of the benefits which farmers received on adoption of wood vinegar are uniform size of vegetables, increased yield, and sturdy stems with increase in the height of the crops. Most significantly on adoption of wood vinegar, it improves the soil quality which is a highly considerable factor which boosts the global wood vinegar market. Currently agriculture is the major application segment which holds substantial share in the global wood vinegar market. Other application of wood vinegar includes animal feed supplement, human application and general application. Wood vinegar is increasingly used in animal feed, for instance use of wood vinegar in poultry helps in reducing the diseases in chickens, increase in egg production and also enhancing the taste. For human use, wood vinegar is favourable in curing both internal and external problems such as insect bites, dental infections, ear infections, snake bites etc. The global wood vinegar market is expected to grow at significantly high CAGR during the forecast period.
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Global Wood Vinegar Market: Drivers and Restraints
Wood vinegar is purely organic which provides more advantage over chemical fertilizers and pesticides since they are highly responsible in disrupting the food chain. This is the prime factor driving the global wood vinegar market. The ease of use, improving soil quality and its effects staying for longer duration on plants further drives the global wood vinegar market. The increase in the poultry industry has also effect on wood vinegar market as it provides both quality and quantity to poultry growers. Some of the factors in animal feed application driving the global wood vinegar market are improvement in meat quality, enhanced fertility rate and increase in milk production.
Global Wood Vinegar Market: Segmentation
On the basis of application, wood vinegar market is segmented into:-
- Soil enrichment
- Fertilizer & Pesticide
- Seed Germination
- Human Use
- General (includes use in Pharmacy, cosmetics etc.)
On the basis of pyrolysis method, wood vinegar market is segmented into:-
On the basis of end use industry method, wood vinegar market is segmented into:-
Global Wood Vinegar Market: Region wise Outlook
The global wood vinegar market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). APEJ holds the major share in the global wood vinegar market in terms of consumption. This is attributed by growing concern towards adoption of organic based food and also wood vinegar is widely produced locally in APEJ region. Followed by APEJ is North America and Europe and are expected to grow relatively at a higher CAGR during the forecast period since the use chemical fertilizer are disrupting the food chains. The global wood vinegar market in Japan is well established and expected to grow at average CAGR over the forecast period. MEA and Latin America are expected to expand at sluggish growth rate due to political and economic turmoil in the region.
Global Wood Vinegar Market: Key Players
Some of the key players identified in the global wood vinegar market includes:
- Nettenergy BV
- ACE (Singapore) Pte Ltd
- TAGROW CO., LTD.
- Canada Renewable Bioenergy Corp.
- Byron Biochar
- VerdiLife LLC
- Taiko Pharmaceutical Co. Ltd.
- Fuqin Science & Technology Co., Ltd
- BIG CHAR CCT.
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