Knowledge Sourcing Intelligence announces the publication of a new report on “Wood Vinegar Market - Forecasts from2020 to 2025" to their offering.
Wood vinegar, also known as pyroligneous acid, is an aqueous liquid which is produced from pyrolysis of biomass and lignocellulose waste. It is in liquid form which consists of numerous compounds that are produced as a by-product of the bio-char production process. The pyrolysis types are classified based on heating rate as fast pyrolysis and slow pyrolysis. The wood vinegar is in light yellow to brown color with a unique smoky odor.
According to the report, the Wood Vinegar Market is projected to increase at a CAGR of 8.16% in the coming years.
Expanding organic farming sector
One of the major drivers of the global wood vinegar market is the growing organic farming sector across different regions/countries. Rising awareness among people about health benefits of chemical-free, organically-produced food is encouraging farmers to expand their organic farms which, in turn, is fuelling the demand for wood vinegar for various applications across the agricultural sector thereby, driving the market growth. Favorable government policies and programs to support the expansion of organic farms is further boosting the demand for wood vinegar across the globe. The United States Department of Agriculture (USDA), has a current goal to increase the number of certified-organic operations as well as expanding programs and services for organic producers and handlers. Also, funding for organic research and other programs in the country has been increasing since 2002 with the implementation of national organic standards.
Another major driver of the global wood vinegar market is the rising demand for chemical-free livestock feed. The presence of dioxin and aflatoxin in animal feed can be harmful for humans consuming various livestock products. As such, the demand for wood vinegar as an animal feed is escalating as it enhances the resistance in livestock while reducing human health associated with the consumption of meat from the animal origin.
By method, the wood vinegar market has been segmented as slow pyrolysis, intermediate pyrolysis, and fast pyrolysis. By application, the market has been classified as agriculture, animal feed, medicinal, and others. Agriculture accounted for a significant share in the global wood vinegar market. Medicinal segment is projected to grow at a considerable CAGR between 2019 and 2025. The wood vinegar market has further segmented by distribution channel as online and offline.
By geography, wood vinegar market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America accounted for the significant market share in 2019 and will remain at its position till the end of the forecast period. Rapidly growing organic farming sector in countries like the United States and Canada is one of the major factors behind the rising demand for wood vinegar as an alternative to agrochemicals such as pesticides and fertilizers. Europe also holds a decent share in the global wood vinegar market on account of high concerns about harmful impact of these agrochemicals on both human health and environment. Asia Pacific, however, is projected to witness a substantial compound annual growth rate during the forecast period owing to the augmenting demand for wood vinegar for animal feed application. Rapidly expanding organic agricultural area in countries like China, India and Australia is further bolstering the demand for wood vinegar, thus positively impacting the overall regional market growth.
The major players covered as part of the report are VerdiLife, Inc., Nettenergy BV, AGRIBOLICS, DOI & CO., LTD., New Life Wood Vinegar, Ace (Singapore) Pte Ltd, Applied Gaia, and Byron Biochar.
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This report has segmented the Wood Vinegar marketon the basis following terms: