Thursday 23 August 2018

Natural Properties of Wood Vinegar to Promote Organic Farming

Growing necessity for bio-based products owing to rising environmental and health concerns is anticipated to propel the demand for wood vinegar. Wood vinegar is a natural by-product obtained in the production of charcoal and has numerous anti-oxidant and anti-microbial properties, which make it a natural substitute for fertilizers and chemical pesticides. Also known as liquid smoke or pyroligneous acid, wood vinegar is a good source of phenol, ester, methanol, and acetic acid. It finds applications in agriculture, animal feed, medicinal, food, & consumer products, and several others.




Wood Vinegar to have maximum Demand in Agriculture Sector

Agriculture segment accounted for the largest market share of 43.7 % in 2016 and is projected to reach at USD 2.8 million by 2025. The segment is likely to expand further and continue its dominance, in terms of revenue, even during the forecast period (from 2018 to 2025). This growth is attributed to the increasing use of product as soil fertility enhancer and organic pesticide. Supportive government initiatives to promote the use of non-toxic and biodegradable chemicals can also spur the product demand, thereby augmenting the segment growth. Wood vinegar as an animal feed improves the resistance in livestock while reducing the risks on human health associated with the consumption of meat. Thus, the animal feed segment is also likely to have a considerable growth during the forecast years.

Market Overview:

The global wood vinegar market is expected to reach at USD 6.6 million by 2025, according to a report by Grand View Research, Inc. The market is projected to expand at a CAGR of 6.7 % during the forecast period (from 2018 to 2025). Growing demand for natural alternative to fertilizers and chemical pesticides can drive the market growth in the coming years. Increasing adoption of organic farming methods to improve crop yield is also likely to stimulate the market demand. Prominent companies operating in the wood vinegar market are Vinegar Australia; Sort Of Coal; Taiko Pharmaceutical Co., Ltd; VerdiLife LLC; and Nettenergy B.V.

Many private and government organizations are emphasizing on introducing new products in the market. For instance, in 2017, the Center for Science and Technology Information (CESTI) announced the successful production of wood vinegar. The new product is designed to be used in organic agriculture as medicinal herb. It was developed by BIFFA, a fertilizer company, along with Tropical Agricultural Research and Consultancy Center (TARCC).

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