Coir Market to Garner Brimming Revenues by 2028
Posted by Shabina on April 29th, 2021
Coir is used in products such as floor mats, doormats, brushes and mattresses. It is a is a natural fibre extracted from the husk of coconut. Coir is the fibrous material found between the internal shell , hard and the outer coat of a coconut. White coir, harvested from unripe coconuts and it is used for manufacture of string, rope, finer brushes, and fishing nets. Global Coir market was valued, in 2017 USD COIR million and in 2024 is expected to reach at USD COIR million with growing CAGR of COIR%.
Market Dynamics:
Rapidly growing demand for eco-friendly products in the market is where coir must fast step in. It is a lightweight, soilless growing medium made from the fibers which are found between a ripe coconut's shell and an outer surface. As it’s a material that occurs in nature, it’s completely renewable and is therefore considered an excellent choice for environmental sustainability. The efforts support the market expansion for coir and the Asia Pacific hopes to further increase production by streamlining the fiber collection process to meet demand.
However, the coir market also has many weaknesses and is facing real threats. It is under constant threat from other natural fibers and synthetics.
Market Players:
Coir market consist of various players, few key players of the market are Allwin Coir., Geewin Exim., BENLION COIR INDUSTRIES., Sai Cocopeat Export Private Limited., SMS Exporters, Kumaran Coir, Travancore Cocotuft Pvt. Ltd., Classic Coir. and others.
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Market Segmentation:
The Coir market is classified into application, type and region. Based on the type, the market is bifurcated into white and brown fiber. These are widely used in textile industry for their low decomposition rate. The more commonly used is the brown fiber, which is obtained from mature coconuts, followed by the white fiber, which is extracted from immature green coconuts after soaking for up to 10 months. Moreover, on the basis of application the market is segmented into food industry, agriculture industry, upholstery industry, fishing industry, carpentry industry.
Further, on the basis of region the market is segmented into North America, Europe, APAC, Latin America and Middle East & Africa. Asia-Pacific is expected to dominate the Coir market throughout the forecast period due to highest production in India and Shrilanka. India and Srilanka exports the coir to about 72 countries all over the world.
Market segmented based on type:
• White Fiber
• Brown Fiber
Market segmented based on application:
• Food Industry
• Agriculture Industry
• Upholstery Industry
• Fishing Industry
• Carpentry Industry
Market segmented based on region:
• North America
• US
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific
• Latin America
• Brazil
• Rest of Latin America
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• Rest of MEA
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