Coir Market Top Players, Key Statistics and Business Development Opportunity

The global coir market is experiencing a significant growth, and is anticipated to grow considerably in next few years. Asia-Pacific countries such as India, Sri Lanka, and Indonesia are the largest producers and exporter of coir. Coir is a stiff, coarse natural fiber, flexible natural yarn, which is obtained from outer shell of coconut by soaking the outer husk and then separating and cleaning the husk. Coir is usually found in brown color is sign of matured coconut coir, whereas white coir is sign of immature coconut husk and green coir is finer and softer. Coconut coir is rot-resistant and durable, which make it ideal for using in outdoor mats, ropes, brushes, rugs, bags, and other household products. In addition, coir is used as potting mix to provide the soil with rich organic matter. Innovation in the industry is related to shift from hand-operated looms to use of automated machines having efficient production capabilities.

Companies covered:

Geewin Exim, Sai Cocopeat Export Private Limited, MS Exporters, Allwin Coir, Benlion Coir Industries, Travancore Cocotuft, Kumaran Coir, and Classic Coir.

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COVID-19 scenario analysis

The effect of the pandemic has majorly hit the coir industry, as the manufacturers are unable to export the products to other countries.
There has been the cancellation of previous orders and the manufacturers are effacing issues with payment as the demand has reduced.
The market will grow steadily once the restrictions will be lifted and the market demand will be stable.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

The use of coir in the food & beverage industry for insulation of cold storage to preserve food, agriculture industry for farming &gardening, upholstery industry, carpentry industry for furniture, and fishing industry increased the demand for coir products. In addition, use of coir to prevent soil erosion during heavy rains &landslides, awareness among consumers regarding bio-degradable &eco-friendly products, and the use of coir in mattresses & furniture in substitute of rubber foam are the driving factors of global coir market. Moreover, the government of coir producing countries has taken the necessary steps to promote the coir industry and has invested heavily in the growth and development, which has attracted new players. However, low-cost foams available in the market, the use of other natural fibers, and the use of plastic products instead of coir are the constraints of the market.

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The global coir market trends are as follows:

New product launches to flourish the market

The market leaders have continuously invested in developing new and advanced uses of coir. The current innovations in the industry are related to the use of coir to manufacture high-quality wood, MDF boards, and plywood that are more sustainable.

Such sustained intervention in the global coir industry is anticipated to increase the demand for coir-based plywood, which will increase the market size. The coir ply exhibitsall the properties of traditional ply and has added strength by use of coir fibers which has a high degree of surface abrasion resistance and can resist varying temperatures.

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Surge in usage in hydroponic gardening

Rise in hydroponic farming using less soil, water, and other resources has hit the agriculture industry, as the production of fruits and vegetables is high using less area for farming, yielding high profits for the farmers. Coir has a high cation exchange rate so it retains the storage of nutrients and release when required and the coir promoted the growth of bacteria and other compounds necessary for the growth of plants. The hydroponic farms have a high demand for coir-peat, coco-peat, coir fiber pith, coir dust for adequate water retention during farming, and the low-decomposition rate of coir.

Key benefits of the report

This study presents the analytical depiction of the global coir industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global coir market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Coir market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

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