Coir Market Segmented by types such as Organic and Conventional with product types such as White Fiber and Brown Fiber And By Nature (Organic, Conventional )
Industry: Food and Beverages
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 328
Report ID: PMRREP21295
The market for coir can be expected to expand at a value based CAGR of 4.45% and show an increase in revenue from US$ 599.2 Mn to around US$ 926.1 Mn by 2033.
|
Coir Market Size (2023E) |
US$ 599.2 Mn |
|
Projected Sales of Coir (2033F) |
US$ 926.1 Mn |
|
Value CAGR (2023-2033) |
4.45% |
|
Value Share of Top 4 Countries (2022E) |
63.37% |
The global coir market has witnessed significant growth in the historical period and was valued at US$ 599.2 Mn in 2023. The market is expected to grow steadily with increasing awareness about applications of coir.
As the world is going green and adopting sustainable methods in all sectors, the utilization of eco-friendly products has increased. Coir and coir products are prominent examples of eco-friendly products. Coir pith can be used as a substitute for peat moss and coir fiber for wood. Rubberized coir is also frequently utilized in the automobile industry due to its environmentally-friendly properties. Coir is a 100% natural and organic resource, which does not harm the environment, and is also available at a low cost. Global concerns over sustainability and environment protection are increasing the usage of eco-friendly products, which are also creating more demand for coir products, thereby boosting the growth of the coir market.
The global market for coir is estimated to reach an approximate valuation of US$ 926.1 Mn in the forecast period.
“Wide Applicability & Versatility of Coir”
Coir products are widely applicable due to their advanced properties such as high water absorption, high durability, soil erosion control capacity, etc. Traditionally, coir fiber had been used in the making of coir rope, twines, brooms, brushes, doormats, rugs, and others. After the discovery of the usage of coir pith, a dust product of coir, coir usage has increased in agriculture, horticulture, and hydroponics industries. Coir is further modified into different types of products, which are coir fiber, coir pith, coir yarn, coir pith block, coir rope, bales, etc., which is prompting more industries to utilize coir and coir products. All these factors are expected to drive the growth of the coir market over the next decade.
“Growing Demand for Hydroponic Vegetables & Fruits”
Hydroponics is an effective way to grow vegetables and fruits such as tomatoes, lettuce, cucumber, and others. The demand for hydroponic tomatoes is increasing rapidly, as they offer more nutritional benefits than soil-grown tomatoes. Hydroponic tomatoes eliminate the variables, which restrain growth such as pH, salinity, disease, and poor drainage. Other hydroponic vegetables such as lettuce and cucumber offer similar benefits to consumers. Coir pith is one of the most used growing media for the hydroponics system.
Coir pith has properties such as better air-to-water ratio, which helps the crop grow without any restrains. Growing demand for hydroponic fruits and vegetables provides better opportunities for the growth of coir products and the coir market in the future.
“Usage of Coir Products in Sound Insulation”
Coir is utilized for in diverse applications and sound insulation is a new entry in this vast array of application. Most research studies have found that coir products can be utilized as sound insulation materials to prevent noise pollution. In some countries such as The Netherlands and Germany, coconut husk, from which coir products are extracted, is being utilized as a noise prevention solution in residential areas. Coir products have an excellent acoustical absorption property, hence, they can absorb sound and prevent noise pollution. Utilization of coir products as sound insulators can provide better opportunities for the coir market to grow in the future.
“Inclination towards Environment Sustainability”
This decade's hot topics are global warming and climate change. The global population is now shifting toward sustainability in order to protect the environment. Both developed and developing countries are coming forward with different solutions to ensure sustainable development. Coir is one of those rare ingredients that is 100% biodegradable, organic, and renewable, and does not harm the environment. Coir has already replaced many conventional resources and it is used as an environmentally friendly product in a variety of applications. The use of coir products will grow as a result of research and development. Coir products can make a small but significant contribution to environmental protection while also propelling the coir market forward.
“Availability of Substitutes for Coir to Limit Sales”
Coir pith is utilized to grow crops by using a hydroponics system. Coir pith has some disadvantages while being used as a growing media. Coco peat has water absorbing capacity which is an effective property for growing crop, but sometimes it holds a lot of water, which may drown plants. Other growing media are also available for growing hydroponic crops such as expanded clay pallets, oasis cubes, perlite, starter plugs, rockwool, growstones, rice hulls, pumice, sand, and wood fiber. These substitutes of coir pith are able to provide similar benefits to hydroponics plant. With research and development, more options in growing media are being discovered for hydroponics crops. Availability of substitutes for coir pith in the hydroponics industry is affecting the global coir market.
How is the Demand for Eco-friendly Products in Germany Benefitting the Growth of Coir Market?
Coir and coir products are one of the finest examples of eco-friendly products. Coir pith can be used as a substitute for peat moss and coir fiber for wood. Coir is 100% natural and organic resource, which does not harm the environment. Concerns over sustainability and environment protection in Germany is increasing the usage of eco-friendly products, which is creating more demand for coir products.
How is the Organic Movement in the U.S. Driving Demand for Coir Market??
North America is expected to remain one of the lucrative markets during the forecast period, U.S. is expected to account for over 92.4% of the North America market in 2023. The awareness regarding organic crops and vegetables offering more nutrition and health benefits to consumers is high. Customers in the U.S. are already shelling out more money for buying organic products. With government supporting organic farming and customer demand for the same, the penetration of organic products is high in the U.S.
Organic farming is done without the use of any pesticides or fertilizers. In organic farming, instead of chemical fertilizers, coir pith and C-POM (coir pith organic manure) is being utilized to provide the necessary nutrition to the crops and vegetables. Coir pith is rich in potassium, magnesium, calcium, and also has strong water absorbing properties. Thus, the organic farming trend in the U.S. is expected to positively impact the utilization of coir products.
Will Benefits of Coir Fiber for Construction Industry Stimulate Growth for Coir Market?
Coir fiber reinforced concrete is made by incorporating coir fiber into a concrete mixture. Because of its low cost, non-corrosiveness, high strength, low thermal conductivity, and low weight ratio, coir fiber is increasingly being used in concrete. Coir fiber is the most durable of all natural fibers. Extensive testing has revealed that coir fiber-reinforced concrete is stronger than unreinforced concrete and has better mechanical and dynamic properties.
Coir is also known for its long-lasting and environmentally friendly properties, which are influencing its use in the construction industry. The easy availability of coconut husk is increasing demand for coir fiber in developing regions such as Latin America, Africa, and Asia Pacific. Coir is emerging as a low-cost and sustainable building material for construction, which is expected to boost the coir market's growth.
Why is the Demand for Coir Increasing in Geo-Textile End Use?
Based on end use, the use of coir for geo-textile is set to experience value growth of 4.7% during the forecast period. Geotextile products are used for controlling soil erosion, increasing soil stability, etc. due to their advanced properties. Geotextiles are utilized in civil engineering, agricultural, and horticulture. Traditionally, synthetic polymers are primarily used for manufacturing geotextiles, but coir has emerged as an eco-friendly and low-cost substitute for these.
In horticulture and hydroponics industries, coir geotextiles are suitable for use as they absorb water and control soil erosion. The wide applicability of geotextile products and eco-friendly property of coir geotextiles are promoting the growth of the coir market.
Companies in the coir market are establishing long-term relationships with their customers and suppliers in order to increase demand for their value-added coir pith products, such as Nelsun Coir, Eco Coir World, Thuran Coir Mills, and others. Companies in the Coir market are pursuing strategic collaborations and strategic partnerships with other manufacturers, as well as acquisitions, in order to expand their product manufacturing.
|
Attribute |
Details |
|
Forecast period |
2023-2033 |
|
Historical data available for |
2018-2022 |
|
Market analysis |
USD million for value |
|
Key regions covered |
|
|
Key countries covered |
|
|
Key market segments covered |
|
|
Key companies profiled |
|
|
Report coverage |
|
|
Customization & pricing |
Available upon request |
By Nature:
By Product Type:
By Source:
By Form:
By End Use:
By Region:
To know more about delivery timeline for this report Contact Sales
The global market for coir has a value of US$ 599.2 Mn in 2023.
The global market for coir has a value of US$ 926.1 Mn in 2033.
The global market for coir has a value CAGR of 4.45% from 2023-2033.
Companies such as FiberDust LLC, Pelemix Ltd., Coco Argo, Allwin Coir, Vaighai Worldwide, Eco Coir World, Thuran Coir Mills, Boyce Argo and others are some of the major players operating in the global coir market.
