Richmond, Feb. 05, 2024 (GLOBE NEWSWIRE) -- According to a research report "Coir Market”, by Form (Bales, Block, Coarse, Coarse Chips, Disk And Coins, Husk Chips, Pure Coir Dust, Grow Bag And Open Top, Rope, Others), Product Type (White Fiber, Brown Fiber), Nature (Organic, Conventional), End Use (Coir Pith, Coir Fiber, Tufted Mat, Doormats Handloom Mat, Curled Coir And Coir Yarn, Geo-Textile, Brushes, Others) and Region - Global Forecast to 2030.
Global Coir Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 593.3 Million |
| Market size value in 2030 | USD 818.3 Million |
| CAGR (2023-2030) | 4.7% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Form, Product Type, Nature, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Coir Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The coir market is experiencing high growth and dynamism, centering on the production and utilization of coir, a natural fiber derived from coconut husks. This eco-friendly and sustainable material has gathered widespread attention and is prominently featured in diverse industries such as agriculture, horticulture, and home products. In agriculture, coir serves as a popular substrate in hydroponic systems and soil amendments, raising water retention and optimal aeration for plant roots. The horticulture sector benefits from various coir-based products, including pots, mats, and liners, providing biodegradable alternatives to conventional materials. Beyond this, coir extends its reach to geotextiles, erosion control products, and even the automotive industry for interior components. The growing global emphasis on sustainable practices and environmental consciousness further propels the demand for coir-based products, driving the expansion of the coir market.
This growth is amplified by the rising preference for organic and natural products worldwide. As consumers increasingly prioritize environmentally friendly choices, there is a rising market demand for sustainable alternatives across industries. Coir perfectly aligns with this trend, being a renewable and biodegradable resource that resonates with the values of environmentally conscious consumers. The agricultural and horticultural sectors are embracing coir-based solutions due to their many benefits, including enhanced soil structure, moisture retention, and reduced dependence on synthetic materials. Ongoing research and development initiatives focused on broadening the applications of coir indicate the potential for further innovations and product diversification. Positioned as an eco-friendly, versatile material, the coir market is set for sustained growth, reflecting the growing importance of sustainable practices in today's global economy.
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Major Vendors in the Global Coir Market:
- Allwin Coir
- CoirGreen
- Duinkop
- Dutch Plantin
- Eco coir
- FibreDust LLC
- Geewin Exim
- IndiaMART InterMESH Ltd
- Kumaran Fibres
- Nelsun Coir
- RA Coir Exports
- RIOCOCO
- Sakthi Coir
- sgpgrid.com
- Sivanthi Joe Coirs
- smsgroups.in
- SV Coir Exports
- Thuran Coir Mills
Rising Agriculture Sector’s Dependence on Coir for Hydroponics and Soil Enhancement
The coir market experiences significant drive from the agriculture sector's growing dependence on coir for hydroponics and soil enhancement, marking a key driver for its sustained expansion. In the contemporary agricultural landscape, where optimizing resources and prioritizing environmental sustainability is imperative, coir has emerged as a versatile and favored choice. With distinctive attributes like exceptional water retention and aeration capacities, coir proves optimal as a substrate for hydroponic systems. Its capacity to provide a stable and supportive medium for plant roots without hindering nutrient absorption aligns effortlessly with the precision farming requirements of hydroponics. Additionally, in traditional soil applications, coir serves efficiently as a soil modification, enhancing structural integrity and increasing moisture retention. As the agriculture sector increasingly holds sustainable and efficient practices, the demand for coir in hydroponics and soil enhancement is for continual growth.
Market Dynamics
Drivers:
- Increasing Consumer Preference For Coir-Based Horticultural Products
- Research And Development Initiatives Focused On Innovating Coir Applications
- Rising Agriculture Sector Dependence On Coir For Hydroponics And Soil Enhancement
- Government Initiatives Promoting Sustainable Agriculture And Use Of Natural Fibers
Opportunities:
- Increasing Adoption Of Organic Farming
- Growing Demand For Sustainable And Eco-Friendly Products
- Rising Awareness Of The Environmental Impact Of Synthetic Materials
- Expanding Applications Of Coir In Erosion Control And Geotextiles
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Growing Demand for Sustainable and Eco-Friendly Products
The coir market is presented with a substantial opportunity driven by the rising global demand for sustainable and eco-friendly products. As environmental awareness takes preference in consumer preferences, there is an observable shift towards products aligning with eco-friendly values. Coir, being a natural and biodegradable material, perfectly fulfills this demand. Its versatility across various applications, encompassing agriculture, horticulture, and home products, positions coir as a sustainable alternative across diverse industries. The heightened recognition of the environmental impact of synthetic materials has fixed a specific niche for coir-based solutions. This opportunity is further emphasized by eco-conscious consumers actively seeking products that minimize ecological footprints. With businesses and industries revolving towards sustainability, the coir market is strategically positioned to capitalize on the demand for products offering both functionality and environmental responsibility, making it an integral player in the global shift towards greener and more sustainable economies.
North America dominates the market for Coir.
North America stands out as the dominating region in the global coir market, with the United States leading in consumption and market share. The coir market is experiencing constant growth, propelled by an escalating awareness among consumers about sustainable practices and an increasing demand for environmentally friendly products. The agricultural sector in the region is actively adopting coir-based solutions like hydroponic systems and soil amendments, contributing significantly to the market's expansion. The horticultural industry in North America Has coir mats, liners, and pots as viable and eco-conscious alternatives, aligning with the dominant trend of favoring organic gardening. Supportive government initiatives aimed at promoting sustainable agriculture further enhance the promising outlook of the coir market in the region.
Asia Pacific region arises as a key player in the coir market, with countries like India and Sri Lanka playing substantial roles in production. The conducive tropical climate in these regions facilitates strong coconut cultivation, ensuring a reliable supply of raw material for coir extraction. The Asia Pacific market benefits from a longstanding tradition of incorporating coir in agriculture, and its versatility extends to applications in geotextiles and erosion control products. The successful horticultural industry in the region relies extensively on coir-based solutions for landscaping and gardening.
The Organic Segment is anticipated to hold the Largest Market Share during the Forecast Period
In the global coir market, the nature segment comprises various categories such as organic and conventional. The organic segment in the coir market has experienced significant growth, reflecting the rising consumer preference for organic and environmentally friendly options. The heightened awareness of environmental sustainability has led consumers to rise towards products that align with eco-conscious values, thereby propelling the demand for organic coir-based solutions. In the realm of agriculture, the organic coir segment is gaining momentum, especially due to its compatibility with organic farming practices. Organic coir serves as a natural and biodegradable substrate in hydroponics, enabling growers to maintain organic certification while capitalizing on its exceptional water retention and aeration properties. Furthermore, in horticulture, the organic coir segment is contributing to sustainable gardening practices, with products like organic coir pots and liners becoming increasingly popular.
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