Global wood vinegar market is projected to grow at a CAGR of 6.8% during the forecast period (2019-2024).
- With increased acceptance of global cuisines, the market for wood vinegar has expanded globally since it has an acrid smoky odor, typical to food products such as barbeque sauce, which are gaining global acceptance.
- Wood vinegar has also growing acceptance as a biofertilizer and a biopesticide in agriculture, which is booming due to the prevailing high demand for organic food products by consumers.
- Also, the high consumption of meat among the consumers has resulted in livestock farmers using wood vinegar in animal feed supplements to lower the cholesterol level while maintaining the quality of meat. As cholesterol has remained a growing concern among consumers, this factor is actively driving the wood vinegar market in the animal feed industry.
Scope of the Report
The market studied covers the application of wood vinegar in various end-user industries such as agriculture, food & beverage, animal feed, and others across the globe. The different methods of the pyrolysis method majorly include slow, fast and intermediate. Also to give our clients, a broader perspective, the market is studied in for different countries in each region.
Key Market Trends
Burgeoning Demand Of Wood Vinegar in Feed Supplements
Wood vinegar is increasingly being used in animal feed for poultry, and other livestock like sheep, cattle, etc in order to eliminate the prevalence of gastrointestinal diseases found in livestock that directly hampers the quality of egg and meat. For instance, According to an article published by Food Vinegar for Organic Agriculture, farmers claim that usage of wood vinegar in feed supplements resulted in improved egg-laying performance in poultry whereas improved meat quality of livestock. Cholesterol is a major concern among the consumers under different demographics, thus usage of wood vinegar has also resulted in reducing the cholesterol content in chicken, turkey, ostrich, and quail.
Asia-Pacific Emerges as the Fastest Growing Market
Asian Countries such as India where the agriculture sector holds a prominent share in the country’s GDP, the wood vinegar has paved the way to boost their crop yielding capacity while maintaining their quality. Also, the growing inclination of consumers across the region towards organic food products has led to an increasing number of farmers adopting organic agricultural practices which in turn is strongly driving the market of biopesticides and bio-based fertilizers, such as wood vinegar in the agricultural sector. Such factors have led to a rising number of wood vinegar manufacturers across the region to meet the burgeoning demand for different industries primarily food and beverage, agriculture, feed supplements, food products, cosmetics, and others.
The global wood vinegar market is highly fragmented with the existence of many regional players such as Ace (Singapore) Pte Ltd, Nettenergy B.V.Applied Gaia Corporation and others. The active companies use strategies, like forming new agreements and partnerships with different players, to increase their footprint in various countries and offer products according to the end-user industries changing preferences. The key players are also focusing on expansion to expand their presence in the global market. Moreover, these players are also focusing to launch their offerings in new potential markets.
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