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:-
- Agriculture
- Soil enrichment
- Fertilizer & Pesticide
- Seed Germination
- Animal
- Human Use
- General (includes use in Pharmacy, cosmetics etc.)
On
the basis of pyrolysis method, wood vinegar market is segmented
into:-
- Slow
- Fast
- Intermediate
On
the basis of end use industry method, wood vinegar market is
segmented into:-
- Agriculture
- Pharmacy
- Poultry
- Others
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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