Wood Vinegar Market Is Anticipated To Reach USD 6.5 million, Growing At A CAGR Of 6.8% By 2022 To 2030 with Latest Research Report By MRFR

Wood Vinegar Market Research Future Insights

According to market research future insights analysis, the global wood vinegar market is expected to register a CAGR of ~ 6.80% from 2022 to 2030 and hold a value of over ~USD 6.5 million by 2030.

Throughout the projected period, the usage of crop protection chemicals is likely to be subject to more stringent government regulations. Crop productivity has also improved, and consumers are increasingly adopting organic food products. Additionally, a significant driver propelling the target market forward is the rising demand for wood vinegar in the pharmaceutical and cosmetic industries. Similarly, rising demand for wood vinegar across industries, affordable production, and rising application in the food industry to enhance the flavor, color, and firmness of food products are all anticipated to fuel market growth shortly. Additionally, it is anticipated that the target market’s expansion has been hampered shortly by the low level of consumer knowledge about the health advantages of wood vinegar, particularly in developing countries.

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Regional Analysis

Asia Pacific dominated the market for wood vinegar in 2021. Increasing awareness regarding disease transmission, diagnosis, and effective management of microbial infections has been observed in this region. This leads to higher adoption of these products, aiding the market growth. As of November 2019, the U.S. Department of Health and Human Services (HHS). Supported the development of the host-response testing technology under a USD 6.0 million, 14-month contract with Inflammatix, Inc. (U.S.). The company is developing three diagnostic tests: HostDx Fever, HostDx Sepsis, and HostDx PaperFlu. The tests provide rapid results within minutes to determine whether the infection is bacterial or viral. This, in turn, supports assisting clinicians in making better-informed and earlier decisions for treatment. These initiatives undertaken by government agencies to support the development of advanced products are further influencing revenue growth.

North America is expected to register lucrative growth in the wood vinegar market. The introduction of wood vinegar has paved the way for Asian nations like India, where the agriculture industry contributes significantly to the GDP, to increase crop yields while preserving crop quality. Another factor driving the market for biopesticides and bio-based fertilizers, like wood vinegar, in the agricultural sector is the growing preference among consumers throughout the region for organic food products, which has encouraged farmers’ adoption of organic agricultural practices. Due to such factors, there are increasingly more wood vinegar producers in the area to meet the rising demand from various industries, particularly food and beverage, agriculture, feed supplements, food products, cosmetics, and others.

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Market Segmentation

The global wood vinegar market has been segmented into pyrolysis methods and applications.

Based on the pyrolysis method, the market has been segmented into slow, fast, and intermediate pyrolysis. The slow pyrolysis segment accounted for the largest share of the market in 2021. This is due to several things, including higher yields of wood vinegar than those attained through other methods, like quick and intermediate pyrolysis. The process takes longer and produces less energy overall, which increases pollution. It also consumes a lower overall quantity of energy. These elements will continue to move the market in the right way. On the other hand, the fast pyrolysis segment is anticipated to be the fastest-growing segment during the forecast period. The biofuel community became interested in it since it might yield a big quantity in a short amount of time. Additionally, because it takes less time, there are fewer emissions. The only disadvantage of quick pyrolysis is that it yields less than slow pyrolysis since it requires a greater temperature to complete.

Based on application, the market has been segmented into agriculture, animal feed, food, medicinal and consumer products and others. Agriculture accounted for the wood vinegar market’s largest revenue share in 2021. The rising popularity of organic farming would raise demand for wood vinegar. Wood vinegar has several advantages, including encouraging the development of better roots and offering protection from dangerous insects, among others. On the other hand, the animal feed segment is anticipated to be the fastest-growing segment during the forecast period. One reason driving up the demand for animal feed and hence the use of animal feed additives is increased meat consumption.

Key Players

Some key market players are Ace (Singapore) Pte Ltd, TAGROW CO., LTD., Sane Shell Carbon, Shandong Toroyal Group, New Life Agro, Applied Gaia Corporation, Dongying Runyi Biological Technology Co., Ltd., DOI & CO., LTD., Nettenergy BV.

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