Transparency
Market Research (TMR), in its recent outlook titled, “Wood Vinegar
Market: Global Industry Analysis and Opportunity Assessment
2017-2025,” projects that in terms of value, global wood vinegar
market revenue will expand at a CAGR of 4.9% during an eight-year
forecast period. In terms of revenue, the global wood vinegar market
accounted for around US$ 1,295.4 Mn in 2017 and is anticipated to
reach a value worth US$ 1,896.8 Mn by 2025 end.
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By
end use, the wood vinegar market is segmented into agriculture, food
and beverages, animal feed, pharmaceuticals, and personal care, and
cosmetics market. The agriculture segment is likely to remain the
most attractive segment in the forecast period owing to its several
applications where it is used as a natural plant-derived pesticide,
herbicide, plant growth promoter, fungal growth enhancer, and in
several other applications. In the food and beverage segment, meat
and seafood sub-segment is anticipated to occupy the largest market
share in terms of value. The dairy products sub-segment is expected
to register a significant growth rate during the forecast period. On
the basis of production method, the wood vinegar market can be
segmented into rapid pyrolysis, intermediate pyrolysis, and slow
pyrolysis.
This
report covers trends driving each segment and offers analysis and
insights regarding the potential of the wood vinegar market in
specific regions. In terms of value, Europe and Asia Pacific are
likely to account for a collective share of more than 60% by the end
of 2025. Also, APAC is expected to dominate the market through to
2025 in terms of demand, subsequently followed by developed markets,
including North America and Europe.
Detailed
profiles of the key providers have been included in the scope of the
report to evaluate their long-term and short-term strategies, key
offerings, and recent developments in the wood vinegar space. Leading
wood vinegar manufacturers include Dongying Runyi Biotechnology Co.
Ltd., Merck KGaA (Sigma Aldrich), Canada Renewable Bioenergy Corp.,
Kerry Group PLC, Frutarom Industries Ltd., Agribolics Technology Sdn
Bhd, VerdiLife LLC., Red Arrow International LLC, B&G Foods,
Inc., Baumer Foods, Inc., TAGROW CsO., LTD., and New Life Wood
Vinegar. While a majority manufacturers are foraying in the natural,
organic products market, others are focusing on the applications in
organic pesticides and fertilizers.
The
global wood
vinegar market is currently witnessing collaborative efforts
to develop innovative products, thus creating a series of
opportunities for vendors in near future. Some of the leading food
and beverage manufacturers are reformulating their products and
providing clean label products. Key players in the processed food
manufacturing industry are investing more in the expansion of
existing production plants, and setting up of new plants, especially
to increase the production of meat and seafood products. Companies in
the market are focusing on new product launches, and introducing
novel, natural, and affordable products in the marketplace.
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