Coco Coir Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Coco Coir Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global coco coir market size reached US$ 351.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 509.8 Million by 2028, exhibiting a growth rate (CAGR) of 6.11% during 2023-2028.

Coco coir, also known as coconut coir, refers to a stiff, coarse natural fiber obtained from the coconut's outer husk manually or through machines. Brown and white fibers are the two common coco fibers extracted from matured coco shells. It is widely used to produce plant basket liners, upholstery stuffing, stitched mats, rugs, and ropes. Coco coir is an organic compound that prefixes the water retention, absorbency, and drainage of potting soil and is also an acceptable amendment to garden soil. In addition, it exhibits beneficial properties, such as durability, excellent water retention, resistance to rotting, anti-fungal nature, hydrophilicity, and recyclability.

Coco Coir Market Trends:
The significant growth in the agriculture industry across the globe is creating a positive outlook for the market. Coco coir is widely used in agriculture beds to improve drainage as it breaks down slowly but retains moisture that makes air pockets below the roots in the soil. In line with this, the increasing demand for coir pith with better air-to-water ratio properties due to the rising demand for hydroponic vegetables and fruits is favoring the market growth. Additionally, the escalating demand for lightweight, eco-friendly products owing to rising pollution levels and the adverse impact of global warming on the ecosystem are acting as another growth-inducing factor. Apart from this, the widespread product adoption in the upholstery industry, used as source material for mats, mattresses, brushes, and gunny sacks is proving an impetus to the market growth. Moreover, the development of the ecocoboard made from the fibrous husk without adding chemical adhesives that are popularly used as a high-quality material for building and furniture applications is positively influencing the market growth. Other factors, including increasing focus on horticulture-based farming, rising expenditure capacities of consumers, widespread product utilization in the interior designing sector, and the implementation of various government initiatives toward expanding their coconut operations through strategic planning and funding, are anticipated to drive the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global coco coir market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, nature, application and consumer.

Breakup by Product:

Coco Coir Grow Bags
Bales
Open Tops
Blends and Loose Substrate
Others

Breakup by Nature:

Organic
Conventional

Breakup by Application:

Rope and Cordage
Coco Nets and Twines
Stitched Mats
Coconut Meals
Husk
Others

Breakup by Consumer:

Green Houses
Sellers

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allwin Coir Products, Bali Coco Company, Benlion Coir Industries, Coco Green (Pvt) Ltd, Consarc (Pvt) Ltd, Fibredust LLC, Klasmann-Deilmann GmbH, Kumaran Fibres, Lanka Coco Products (Pvt) Ltd, Natural Coir Industries, Pelemix Ltd., Pilipinas Ecofiber Corporation and SMS Exports.

Key Questions Answered in This Report

1. What was the size of the global coco coir market in 2022?
2. What is the expected growth rate of the global coco coir market during 2023-2028?
3. What are the key factors driving the global coco coir market?
4. What has been the impact of COVID-19 on the global coco coir market?
5. What is the breakup of the global coco coir market based on the product?
6. What is the breakup of the global coco coir market based on the application?
7. What is the breakup of the global coco coir market based on consumer?
8. What are the key regions in the global coco coir market?
9. Who are the key players/companies in the global coco coir market?