The global wood vinegar market is expected to
reach USD 6.6 million by 2025, growing at a CAGR of 6.7%, according to a new
report by Grand View Research, Inc. Increasing support from various governments
for adoption of organic farming methods by small-farm holders for improved crop
yield is the key factor driving the market growth. In addition, rapid expansion
of organic farming in Asia Pacific is expected to boost the market demand
further.
Wood vinegar, a natural extract
from woods, makes it a better choice in agriculture pesticides category, as
compared to animal feed and natural pesticides. The market is mainly driven by
its varied uses in agriculture and animal husbandry industry, as it is accepted
as a nutrient supplement by farmers and livestock producers, who seek to
improve their crop yield by using bio pesticides.
In terms of revenue, agriculture
segment accounted as the major application industry in 2016 and is estimated to
continue its dominance with a share of 42.6% by 2025, as it is preferred as an
organic pesticide and soil fertility enhancer. Globally, various governments
and institutions are promoting the use of bio-degradable and non-toxic
chemicals in farming. Such initiatives are boosting the growth of its
applications in agriculture sector.
The demand for wood vinegar
market is expected to surge owing to its increased acceptance from consumers
globally. Abundant resources of wood biomass in Asia Pacific region are helping
the farmers to produce wood vinegar domestically. In addition, it adds economic
value to those farmers who cannot afford premium synthetic chemicals.
Browse full research report on Global
Wood Vinegar Market: http://www.grandviewresearch.com/industry-analysis/wood-vinegar-market
Further key findings from the report suggest:
- Fast pyrolysis method is estimated to experience the fastest growth in terms of value at a CAGR of 6.5% from 2017 to 2025 on account of its ability to increase bio-oil yield, upon increase in temperature. Furthermore, growing innovation from producers of pyrolizers such as mobile pyrolysis plant and large pyrolizers that enhance the production capability is leading to the increased adoption of this method.
- Agriculture industry emerged as the largest application segment in terms of revenue in 2016 and is estimated to reach USD 2.8 million by 2025. Increase in organic arable land in Asia Pacific and South & Central America region is expected to boost the growth over the years ahead.
- The U.S. market in terms of revenue is estimated to reach USD 1.05 million by 2025. The market in Asia Pacific is projected to witness substantial growth over the next eight years particularly due to the dominance of established organic farming in Australia and expansion in China and India.
- Key players including Wood Vinegar Australia, Sort of Coal ApS, VerdiLife LLC, Taiko Pharmaceutical Co., Ltd, Nettenergy B.V. and Applied Gaia Corporation dominated the global market.
Read our blogs by Grand View Research: http://www.grandviewresearch.com/blog/wood-vinegar-market-size-share
Grand View Research has segmented the global wood vinegar
market on the basis of Application, Method Type and Region:
Application Outlook (Revenue, USD Million, 2014 - 2025)
- Agriculture
- Animal-Feed
- Food, Medicinal, and Consumer Products
- Others
Method Type Outlook (Revenue, USD Million, 2014 - 2025)
- Slow Pyrolysis
- Intermediate Pyrolysis
- Fast Pyrolysis
Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- Australia
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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