Global Revenues of Wood Vinegar Market to Worth US$ 1.8 Bn by 2025
Albany, NY -- (SBWIRE) -- 10/22/2018 -- 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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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.
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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.