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2020
Coco Coir Market

Coco Coir Market

by Product (Coco Coir Grow Bags, Bales, Coir Material, Open Tops, Blends & Loose Substrate, and Others ), Application (Rope & Cordage, Coco Nets & Twines, Stitched Mats, Coconut Meals, Husk, and Others), and Consumer (Green Houses and Sellers): Global Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A06856
Pages: 254
Sep 2020 | 12632 Views
Author(s) : Aniket K , Roshan D
Tables: 127
Charts: 54
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The coco coir market size was valued at $369.70 million in 2019, and is expected to garner $525.70 million by 2027, registering a CAGR of 8.2% from 2020 to 2027. Coco coir, also called coco fiber, is extracted from the outer shell of a coco, which is a stiff, coarse natural fiber, flexible natural yarn that is extracted from the outer husk of the coco manually or through machines. White fibers and brown fibers are two common types of coco fibers extracted from matured coco shells. Coir has the highest concentration of lignin that makes it stronger, but less flexible compared to cotton and unsuitable for dyeing. Coco coir is considered as an eco-friendly product, which is suitable for hydroponic and horticultural applications, as it absorbs water. Surge in demand for eco-friendly products with lightweight properties coupled with expansion of the upholstery industry is driving growth of the global coco coir market. 

The major by-product of coconut is coconut husk from which coir fiber is extracted. This extraction process generates large quantity of coir dust or coir pith, which has gained significant traction in the coco coir market, owing to the fact that it is used a growth medium in horticulture. However, coir pith is still not considered as an ideal carbon source for use in agriculture, owing to its higher carbon and nitrogen ratio and lower biodegradability due to high lignin content. Thus, coir pith is composted to lower the carbon & nitrogen ratio, reduce the lignin & cellulose content, and increase its manorial value. Composting of coir pith reduces its bulkiness and converts plant nutrients to the available form. Thus, the demand for coir pith is increasing in horticulture farming. In addition, many benefits offered by using coco coir in agriculture such as high moisture content and balanced carbon to nitrogen ratio have boosted it demand, thereby augmenting the coco coir market growth. Most vegetables grow better in neutral conditions, and since coir is naturally neutral, there is no need for extra additives to even out the acidity.

Coco-Coir-Market-2020-2027

Moreover, coir improves drainage in agricultural beds. Since it breaks down slowly but retains moisture, it creates air pockets below the roots in the soil. This allows the water to drain away from the plant’s roots but still hold some of the moisture, thus, the soil does not completely dry out. This works on many types of beds, including those with heavy clay and in dry beds with more sand. Thus, all the above factors notably contribute toward the coco coir market growth. Moreover, government initiatives to promote horticulture-based farming of vegetables and fruits boost the coco coir market growth. Moreover, many of the companies have adopted the concept of cleaner production to cater to consumers’ needs. Hence, the inclination of consumers toward ecofriendly products is playing a vital role in the growth of the global market.

Environmental awareness is increasing worldwide since the last few years. With rise in awareness among the customers especially with reference to global warming and climate change phenomenon, they have become more cautious regarding their purchases specifically toward the nature of purchased products. Cleaner production of coco products is a relatively new preventive environmental strategy, which helps in increasing the resource efficiency of products, processes, and services, and reduce risk to people & the environment. Many companies active in the coconut products manufacturing have started to brand themselves as environmentally friendly and to offer products that have minimal adverse effect on the environment.

On the basis of product, the coco coir grows bags segment accounted for the maximum coco coir market share in 2019. This is attributed to the fact that grow bags are available in standard sizes and with different volume of coir that can be flat bags or small open top container grow bag. The bags offer same benefits of coir growing but with added advantage of being portable and increased efficiency.

Coco Coir Market
By Product

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The Coir material segment would witness the fastest growth, registering a CAGR of 9.90% during the forecast.

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By application, the coconut meals segment dominated the coco coir market in 2019, and is expected to retain its dominance throughout the coco coir market forecast period. This is attributed to wide range of applications in agriculture sector, owing to its homogeneous and fine structure. Coconut meal is majorly used as a substrate for different crops, thus, its demand from agriculture sector is expected to increase in the coming years, which contributes toward the coco coir market growth.  

Coco Coir Market
By Application

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Coconut meals segment would witness the fastest growth, registering a CAGR of 9.2% during the forecast period.

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Depending on consumer, the greenhouses segment has contributed the highest revenue in 2019, as food demand is expected to increase between 59% and 98% by 2050. This will shape agricultural coco coir markets in ways we have not seen before. Farmers worldwide will be required to increase crop production, either by increasing the amount of agricultural land to grow crops or by enhancing productivity on existing agricultural products. Thus, the aforementioned factors are projected to contribute toward the growth of greenhouses, which, in turn, is likely to boost the demand for coco coir during the forecast period. 

Coco Coir Market
By Consumer

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Sellers segment would witness the fastest growth, registering a CAGR of 11.00% during the forecast period.

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The players operating in the global coco coir industry have adopted new product launch as their key developmental strategy to expand their market share, increase profitability, and remain competitive in the coco coir market. The key players profiled in the report include Firedust, Pilipinas Ecofiber Corporation, Universal Coco Indonesia, Lima Group, Pelemix Ltd., Consarc Pvt Ltd., Bali Coco Fiber, Cocofiber, Coco Green Pvt Ltd., and Lanka Coco Products.

Coco Coir Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific segment would witness the fastest growth, registering a CAGR of 10.00% during the forecast period.

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Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current coco coir market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth coco coir market analysis and the market size and segmentation assist to determine the prevailing coco coir market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the coco coir industry. 

Coco Coir Market Report Highlights

Aspects Details
By Product
  • Coco Coir Grow Bags
  • Bales
  • Coir Material
  • Open Tops
  • Blends & Loose Substrate
  • Others
By Application
  • Rope & Cordage
  • Coco Nets & Twines
  • Stitched Mats
  • Coconut Meals
  • Husk
  • Others
By Consumer
  • Green Houses
  • Sellers
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, The Netherlands, Denmark, Rest of Europe)
  • Asia-Pacific  (India, Indonesia, China, Philippines, South Korea, Vietnam, Malaysia, Rest of Asia-Pacific)
  • LAMEA  (Lain America, Middle East, Africa)
Key Market Players BALI COCO, COCO GREEN (PVT) LTD, COCOLANDLANKA (PVT) LTD., CONSARC (PVT) LTD., FIBREDUST LLC, LANKA COCO PRODUCTS, LIMA GROUP, PELEMIX LTD., PILIPINAS ECOFIBER CORPORATION, UNIVERSAL COCO INDONESIA
 

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The expansion of the coir market contributes toward the sustainable development agenda in terms of creation of environment-friendly products and its application for domestic use along with the usage in housing, building, agriculture, horticulture, and infrastructure production. The world population is becoming more conscious about the need of preserving the nature; thus, increasing number of people are opting for environment-friendly products. This acts as an opportunity, which promotes the use of coir to replace synthetic furnishings and certain wooden building materials. The coir industries must go for accreditation of coir products that they produce to maintain and develop a credible mechanism to ensure improvements in quality and productivity. In addition, labelling and branding coir products will increase the unique selling proposition, thus leveraging the market potential for coir products. Moreover, the Union Government may consider providing enhanced support to coir industry under the Foreign Trade Policy of the Government. Increase in incentives under the Foreign Trade Policy will make the Indian coir market globally competitive. The Directorate General of Foreign Trade (DGFT) has increased incentives for coir geotextiles and coir pith products, which promotes the market growth.  The, as these products are low valued items. The Government of India has taken some steps to increase the production and exports of coir and coir products. Coir and coir products are incentivized at around 2–5% under the Focus Product Scheme (FPS) and at around 3–4% under the Focus Market Scheme (FMS). Thus, such initiatives by government are expected to gradually increase the market share of coir products.

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FREQUENTLY ASKED QUESTIONS?

A. The coco coir market size was valued at $369.70 million in 2019, and is expected to garner $525.70 million by 2027, registering a CAGR of 8.2% from 2020 to 2027. Coco coir, also called coco fiber, is extracted from the outer shell of a coco, which is a stiff, coarse natural fiber, flexible natural yarn that is extracted from the outer husk of the coco manually or through machines. White fibers and brown fibers are two common types of coco fibers extracted from matured coco shells.

A. The CAGR of Coco Coir Market is 8.2% from 2020 to 2027. Coir has the highest concentration of lignin that makes it stronger, but less flexible compared to cotton and unsuitable for dyeing. Coco coir is considered as an eco-friendly product, which is suitable for hydroponic and horticultural applications, as it absorbs water. Surge in demand for eco-friendly products with lightweight properties coupled with expansion of the upholstery industry is driving growth of the global coco coir market.

A. The sample of Coco Coir Market can be downloaded by clicking on the link ( paste the link)

A. Traditionally, coir fiber was used in the making of coir rope, twines, brooms, brushes, doormats, and rugs. After the discovery of the usage of coir pith, a by-product of coir, coir usage has increased in agriculture, horticulture, and hydroponics industries. Coir is further modified into different types of products, including coir fiber, coir pith, coir yarn, coir pith block, coir rope, and bales, which prompted more industries to utilize coir and coir products. All these factors are expected to drive the growth of the global coir market during the forecast period. Rapid adoption of digital technologies and changes in shopping behaviors of the millennial population coupled with rise in number of netizens are anticipated to transform e-commerce into an essential platform to purchase coir products, thereby augmenting the growth of the global market

A. The global coco coir market is segmented into product, application, consumer, and region. Depending on product, the market is categorized into coco coir grow bags, bales, coir materials, open tops, blends & loose substrate, and others. The applications covered in the study include rope & cordage, coco nets & twines, stitched mats, coconut meals, husk, and others. Depending on consumer, the market is fragmented into green houses and sellers.

A. The forecast period in the market report is from 2020 to 2027. Depending on consumer, the greenhouses segment has contributed the highest revenue in 2019, as food demand is expected to increase between 59% and 98% by 2050. This will shape agricultural coco coir markets in ways we have not seen before. Farmers worldwide will be required to increase crop production, either by increasing the amount of agricultural land to grow crops or by enhancing productivity on existing agricultural products. Thus, the aforementioned factors are projected to contribute toward the growth of greenhouses, which, in turn, is likely to boost the demand for coco coir during the forecast period.

A. The key players profiled in the report include Firedust, Pilipinas Ecofiber Corporation, Universal Coco Indonesia, Lima Group, Pelemix Ltd., Consarc Pvt Ltd., Bali Coco Fiber, Cocofiber, Coco Green Pvt Ltd., and Lanka Coco Products.

A. A substitute to plywood, coir ply is an innovative product that is added together with resin and limited pre-treated timber veneers. In India, the product has been well accepted by the market as an alternative to plywood. Substituting coir for other timber products could further save a substantial amount of tropical trees being logged for this purpose. Coir ply has all the properties of phenol-bonded ply with the added strength of fiber-reinforced phenol bonding. The aforementioned trends will shape the market in coming period.

A. Rise in demand for coir in farming industry, increase in demand of coir from geotextile industry, inclination of consumers toward ecofriendly products, and beneficial properties of coir ply are the key trends in the Coco Coir market report.

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