Coir Market:
Executive Summary
Coir can be referred to as a coarse and short fiber, and is generally extracted from the husk of a coconut. Coir finds extensive applications across industries such as, agriculture, upholstery, horticulture, geo-textile, hydroponics, etc.
Coir products are applicable across a number of verticals due to their advanced attributes such as, high durability, excellent water absorption, increased soil erosion control capacity, and others. Coir fiber was traditionally used to make twines, coir rope, brushes, brooms, rugs, doormats, and others. Since ever the discovery of the usage of coir pith, the usage of coir has increased in horticulture, agriculture, and hydroponics industry. The product is further modified into coir pith, coir fiber, coir yarn, coir rope, coir pith block, bales, etc. This is further pushing industries across the globe to use coir and its products across verticals.
The surging demand for eco-friendly products among the consumers across the globe is propelling the market growth over the forecast period. With the world going green, the utilization of eco-friendly products and adoption of sustainable products have increased. Coir pith is highly used as a replacement for peat moss and coir fiber used for wool. Rising concerns over sustainability, coupled with environment protection are driving the usage of eco-friendly products, coir being one of them.
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Moreover, the rising demand for hydroponic fruits and vegetables is offering a boost to the coir market globally. Hydroponics is considered an effective way to cultivate fruits and vegetables as they provide more nutritional benefits compared to soil-grown ones. For instance, hydroponic tomatoes eliminate the variables, which restrict growth such as, salinity, pH, poor drainage, and disease. Thus, the surging demand for hydroponic vegetables and fruits will offer better growth opportunities for the growth of the coir market in the coming years.
Segmental Analysis
The global coir market has been segmented on the basis of type and application.
By type, the global coir market is segmented into white fiber and brown fiber.
The application segment of the coir market comprises agriculture industry, food industry, fishing industry, upholstery industry, and carpentry industry.
Regional Insights
Geographically, the coir market spans across Europe, North America, China, Japan, India, and Southeast Asia.
Resilience level of coconut resembles that they can be grown in a variety of soil types, although they do not need a relative high amount of rainfall. Coconut habitat is generally found in the coastal areas. Coconuts belong to tropical trees species and mainly cultivated by small-scale farmers. Coconut production is largely concentrated on areas of humid tropics such as, the Philippines, India, Indonesia, and Thailand.
The APAC is considered to be the largest producer of coir, with the presence of countries such as, Indonesia and India being the highest producer of coconut in the world. Indonesia is regarded the world leading producer of coconut. Majority of the coconuts produced are exported overseas. The increased production of coconut has propelled the growth of the coir market in the region. Moreover, India is considered as the third largest producer of coconut the in the world. It is regarded important to the Indian economy, especially in rural areas of the country. This has further augmented the coir market during the estimated timeframe.
Continuous…
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