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The latest report by IMARC, titled “ Wood Vinegar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2 028
” the global wood vinegar market reached a value of US$ 4.6 Billion in 2022.
Wood vinegar, also known as wood acid, is a common organic farming and traditional agriculture product for eliminating pests and improving crop yields. This dark liquid is produced by utilizing wood and other biomass materials, through a destructive distillation process. In addition to 70-90% water with some organic content, it is primarily composed of methanol, acetone, and acetic acid. As a natural food additive and preservative, it prevents the growth of microbes in food, making it a great alternative to synthetic pesticides and fertilizers.
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The global market is majorly driven by the escalating demand for natural ingredient-based fertilizers as alternatives to chemical pesticides. This can be attributed to the increasing popularity of organic farming practices due to the growing awareness regarding the adverse effects of chemical pesticides and fertilizers. The growing emphasis on a healthier lifestyle, particularly among younger generations, is driving the demand for bio-based and organic products, thereby fueling the market growth. In addition to this, continual technological advancements in the production method are also providing an impetus to the market. With the growing interest of consumers in organic personal care products, wood vinegar is becoming a more popular ingredient in the formulation of sunblock lotions and soaps, which, in turn, is contributing to the market.
Some of the other factors creating a positive market outlook include rapid urbanization, growing awareness regarding health and fitness, considerable growth in the agricultural sector, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.7 Billion by 2028, exhibiting a CAGR of 6.2% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Breakup by Application:
• Agriculture
• Animal Feed
• Food, Medicinal and Consumer Products
• Others
Breakup by Pyrolysis Method:
• Slow Pyrolysis
• Fast Pyrolysis
• Intermediate Pyrolysis
Breakup by Region:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
Competitive Landscape with Key Players:
• Ace (Singapore) Pte Ltd
• Applied Gaia Corporation
• Byron Biochar
• Doi & Co. Ltd.
• Nettenergy B.V.
• New Life Wood Vinegar
• Sane Shell Carbon Private Limited
• Tagrow Co. Ltd.
• Taiko Pharmaceutical Co. Ltd.
• VerdiLife
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