Wood vinegar market is expected to reach approximately USD 6.5 million by 2030, at a CAGR of 6.8% from 2022 to 2030. Wood vinegar is an organic pesticide, which is non-toxic and bio-degradable in nature. Wood vinegar helps in reducing odour of the manure, stimulates plant & fruit growth, enhances soil fertility, reduces weeds, and pests from the plants. Moreover, wood vinegar improves the crop yield, reinforces the photosynthesis, and increases the chlorophyll content of the plants.
The global wood vinegar market is experiencing a significant growth and is expected to continue to do so during the forecast period owing to the growing preferences for organic pesticides. The growing government initiatives for utilizing bio-based products as a substitute to synthetic chemicals is expected to boost the demand of wood vinegar in the market. Moreover, increasing applications of wood vinegar in various industries such as agriculture and food & beverages, low manufacturing cost as compared to synthetic pesticides and growing organic food industry are the factors expected to boost the demand for wood vinegar in the future.
The global wood vinegar market has further been segmented by pyrolysis method and application.
By pyrolysis method, the global wood vinegar market has been classified as slow pyrolysis, fast pyrolysis, and intermediate pyrolysis.
The global wood vinegar market has also been segregated, on the basis of application, into agriculture, animal feed, food & beverages and others.
The global wood vinegar market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American wood vinegar market has further been segmented into the US, Canada, and Mexico. The European wood vinegar market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The wood vinegar market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The wood vinegar market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Regional Market Summary
Global Wood Vinegar Market Share (%), by Region, 2021
Source: Secondary Sources and MRFR Analysis
Asia-Pacific is expected to dominate the wood vinegar market during the forecast period due to the growing agriculture, animal feed, and food & beverage industry in the region. The market in North America is projected to register the highest growth rate during the forecast period owing to growing organic farming. Wood vinegar is used as an organic pesticides and fertilizers to improve crop yield, which in turn is boosting the growth of wood vinegar in the market.
Global Wood Vinegar Market, by Pyrolysis Method
Global Wood Vinegar Market, by Application
Global Wood Vinegar Market, by Region
Key Players in the Global Wood Vinegar Market
|Market Size||USD 6.5 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Pyrolysis Method, Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Ace Singapore Pte Ltd (Singapore), Nettenergy B.V. (Netherlands), Canada Renewable Bioenergy Corp (Canada), Tagrow Co., Ltd. (China), Red Arrow International LLC (US), Byron Biochar (Australia), B&G Foods, Inc. (US), VerdiLife, LLC.(US), Baumer Foods, Inc.(US), and Taiko Pharmaceutical Co.,Ltd. (Japan)|
|Key Market Opportunities||Increasing applications of wood vinegar in various industries|
|Key Market Drivers||Growing Preferences for Organic Pesticides, Government Initiatives to Promote Usages of Bio-Based Products in Agricultural Applications|
Based on pyrolysis method, the slow pyrolysis segment and based on application, the agriculture segment, holds the major share in the global wood vinegar market.
Ace Singapore Pte Ltd (Singapore), Nettenergy B.V. (Netherlands), Canada Renewable Bioenergy Corp (Canada), Tagrow Co., Ltd. (China), Red Arrow International LLC (US), Byron Biochar (Australia), B&G Foods, Inc. (US), VerdiLife, LLC.(US), Baumer Foods, Inc.(US), and Taiko Pharmaceutical Co.,Ltd. (Japan), are some of the top players operating in the global wood vinegar market.
Lack of knowledge about the effective usages of the product is a major growth impeder for the global wood vinegar market.
Asia Pacific holds the largest share in the global wood vinegar market, followed by North America and Europe, respectively.
Growing preferences for organic pesticides and government initiatives to promote usages of bio-based products in agricultural applications, are major tailwinds pushing the growth of the global wood vinegar market.