ALBANY, New York, April 11, 2018 /PRNewswire/ --
Transparency Market Research (TMR), in its recent outlook titled, "Wood Vinegar Market: Global Industry Analysis and Opportunity Assessment 2017-2025," projects that in terms of value, global wood vinegar market revenue will expand at a CAGR of 4.9% during an eight-year forecast period. In terms of revenue, the global wood vinegar market accounted for around US$ 1,295.4 Mn in 2017 and is anticipated to reach a value worth US$ 1,896.8 Mn by 2025 end.
By end use, the wood vinegar market is segmented into agriculture, food and beverages, animal feed, pharmaceuticals, and personal care, and cosmetics market. The agriculture segment is likely to remain the most attractive segment in the forecast period owing to its several applications where it is used as a natural plant-derived pesticide, herbicide, plant growth promoter, fungal growth enhancer, and in several other applications. In the food and beverage segment, meat and seafood sub-segment is anticipated to occupy the largest market share in terms of value. The dairy products sub-segment is expected to register a significant growth rate during the forecast period. On the basis of production method, the wood vinegar market can be segmented into rapid pyrolysis, intermediate pyrolysis, and slow pyrolysis.
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This report covers trends driving each segment and offers analysis and insights regarding the potential of the wood vinegar market in specific regions. In terms of value, Europe and Asia Pacific are likely to account for a collective share of more than 60% by the end of 2025. Also, APAC is expected to dominate the market through to 2025 in terms of demand, subsequently followed by developed markets, including North America and Europe.
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Detailed profiles of the key providers have been included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, and recent developments in the wood vinegar space. Leading wood vinegar manufacturers include Dongying Runyi Biotechnology Co. Ltd., Merck KGaA (Sigma Aldrich), Canada Renewable Bioenergy Corp., Kerry Group PLC, Frutarom Industries Ltd., Agribolics Technology Sdn Bhd, VerdiLife LLC., Red Arrow International LLC, B&G Foods, Inc., Baumer Foods, Inc., TAGROW CsO., LTD., and New Life Wood Vinegar. While a majority manufacturers are foraying in the natural, organic products market, others are focusing on the applications in organic pesticides and fertilizers.
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The global wood vinegar market is currently witnessing collaborative efforts to develop innovative products, thus creating a series of opportunities for vendors in near future. Some of the leading food and beverage manufacturers are reformulating their products and providing clean label products. Key players in the processed food manufacturing industry are investing more in the expansion of existing production plants, and setting up of new plants, especially to increase the production of meat and seafood products. Companies in the market are focusing on new product launches, and introducing novel, natural, and affordable products in the marketplace.
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