Market Research Report
Wood Vinegar Market Analysis, By Application (Agriculture, Animal Feed, Food, Medicinal, Consumer Products), By Method (Slow Pyrolysis, Fast Pyrolysis, Intermediate Pyrolysis), By Region, And Segment Forecasts, 2014 - 2025
|Published by||Grand View Research, Inc.||Product code||572922|
|Published||Content info||93 Pages
Delivery time: 2-3 business days
|Wood Vinegar Market Analysis, By Application (Agriculture, Animal Feed, Food, Medicinal, Consumer Products), By Method (Slow Pyrolysis, Fast Pyrolysis, Intermediate Pyrolysis), By Region, And Segment Forecasts, 2014 - 2025|
|Published: September 22, 2017||Content info: 93 Pages||
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.