Loading...

Coco Coir Market Expected to Reach $525.70 Million by 2027—Allied Market Research

 
 

quote 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 coco coir market share of coir products. quote

Bhandalkar
Senior Research Analyst, Consumer Goods at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Coco Coir Market by Product, Application, and Consumer: Opportunity Analysis and Industry Forecast, 2020–2027,” 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

Hydroponics is an effective way to grow vegetables and fruits such as tomatoes, lettuce, and cucumber. The demand for hydroponic tomatoes is increasing rapidly, as they offer more nutritional benefits than soil-grown tomatoes. Hydroponic tomatoes eliminate the variables, 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 exhibits properties such as better air-to-water ratio and wide variations in carbon to nitrogen ratio, which help the crops to grow without any restraints. Surge in demand for hydroponic fruits and vegetables provides lucrative opportunities for the growth of coco coir market forecast period. Geotextile products are used for controlling soil erosion and increasing soil stability. Geotextiles are utilized in civil engineering, agricultural, and horticulture. Traditionally, synthetic polymers were used for manufacturing geotextiles, however, coir has emerged as an eco-friendly and low-cost substitute. In horticulture and hydroponics industries, coir geotextiles are suitable for use, as they absorb water and control soil erosion. Wide applicability of geotextile products and eco-friendly property of coir geotextiles significantly contribute toward the growth of the global coco coir market. 

Coir geotextile is a large continuous sheet used to uncover slope or surfaces that are prone to erosion. . This coir-based sheet reduces raindrop force, runoff rapidity, and surface erosion on disturbed soils. In addition, it may safeguard new plant life and promote growth of plant life by slowing evaporation of water from soil, thus retaining soil humidity. Coir geotextile—a 100% organic and environmental fiber with high durability—is now being successfully employed for enhancing soil behavior, preventing soil erosion, and helping in consolidation of soil. Increase in demand for functional and high-performance textiles in agriculture, road construction, and erosion control applications and development of the construction industry are anticipated to accelerate the coco coir market growth. Furthermore, this product has gained increased traction in the coco coir market, owing to its superior benefits such as liquid repellency and mechanical strength. Moreover, rise in investments by government in public utility infrastructure owing to rapid industrialization is expected to drive the coco coir market growth. The efforts to control soil erosion and restore degraded lands with the help of geotextiles are projected to offer remunerative opportunities for the expansion of the coco coir market in the coming years.

The outbreak of COVID-19 has severely impacted the global economies, and has caused severe disruption in supply chain. Coir is a by-product of coconut, and as the processing and manufacturing of agricultural products has been hit, it could affect the production of coir. Similarly, lockdown has disrupted the end-use industry of coir, thus negatively impacting coco coir market trends. 

Moreover, suspended trade activities have stopped the supply of coir products to Europe and North America where it is majorly being used. South Asian countries account for a major production of coir, and as production has been affected, the coir stock could be disrupted. Nonetheless, this overall scenario could be for a limited time, as after the pandemic is brought under control, the coir market is projected to grow at a significant rate. Thus, the COVID-19 outbreak is expected to have a moderate impact on the global coir market.

The global coco coir market is segmented into products, 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. By application, it is differentiated into rope & cordage, coco nets & twines, stitched mats, coconut meals, husk, and others. On the basis of consumer, is bifurcated into green houses and sellers. 

Key findings of the study

  • On the basis of product, the coco coir grow bags segment was the highest contributor to the market, and is expected to grow at a CAGR of 6.70% from 2020 to 2027.
  • By application, the coconut meals segment led the market in terms of value in 2020, and is estimated to grow at a CAGR of 12.20% from 2020 to 2027.
  • Deepening on the consumer, the green houses segment is expected to grow at a steady CAGR of 7.50% from 2020 to 2027.
  • Region wise, North America is expected to grow at a steady CAGR of 6.80% from 2020 to 2027.   

The key players operating in the coco coir industry are the 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.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Ram D
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote 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 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Coco Coir Market"
Purchase Enquiry