A report by Transparency Market Research, titled, “Wood Vinegar Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” predicts this market to garner a voluminous growth owing to its extensive applications in the burgeoning food and agricultural sector.
As wood vinegar being a bio-based product extracted directly from wood that does inflict harmful effects on the environment, its rising demand has considerably improved the market since past few decades. Such an eco-friendly nature of the extracts has increased preference for organic and bio-based products among consumers, thus driving the market. Strict government regulations demanding minimum environmental impact is another reason for higher emphasis to exist on using natural derivatives such as wood vinegar. This has been considerably boosting the global wood vinegar market’s growth. Extraction, curing, and production processes of wood vinegar are fairly easy, which has encouraged several players to expand their production processes by encountering minimum hassles. In this way, such a large-scale enthusiasm by players owing to the presence of less complex processes has certainly bolstered the global wood vinegar market. Several bio-based products are being increasingly promoted all over the world, thus leading towards the growth in this market being boosted.
However, wood vinegar extracted from trees infected with diseases and other plant-based ailments may have poor quality, thus being unsuitable for usage. This may prove to be a significant restraint to the global wood vinegar market, affecting its revenue collection in the near future.
The global wood vinegar market could be segmented on the basis of application, manufacturing process, and region. Under applications, the market consists of several segments such as agriculture, animal husbandry, wood tar, pharmaceuticals, food, agriculture, cosmetics, wood tar, and waste water treatment. Of these, food as well as agricultural sector could lead the market in terms of maximum revenue gained. In case of the former category, wood vinegars find extensive application in the form of preservatives, anti-oxidants, and substances having anti-microbial properties. In agriculture, wood vinegar provides several benefits such as improved seed germination, soil enrichment, root stimulation, and better disease resistance, thus improving its demand.
Geography-wise, the global wood vinegar market is spread across Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa. From these, Asia Pacific showcases maximum growth owing to extensive production of vinegar in this region. A surging demand for organic farming in this region is further expected to boost growth in the forthcoming years. Apart from Asia Pacific, the global wood vinegar market also anticipated to showcase fantastic growth in Europe owing to healthy practices of using biodegradable materials.
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The vendor landscape of the global wood vinegar market showcases a highly competitive outlook thanks to scores of players operating in this market. Owing to the extraction of a substance having almost similar properties all over the world, most players are focusing on product differentiation, regional expansion, and regulation of costs. Several businesses are also participating in implementing strategies such as potential partnerships, mergers and acquisitions. Some of the major players operating in the global wood vinegar market are Byron Biochar, Nakashima Trading Co. Ltd., Verdi Life, Canada Renewable Bioenergy Corp., TAGROW CO., LTD., Nettenergy BV, New Life Agro, Doi & Co., Ltd., Penta Manufacturer, and ACE Pte Ltd.