Coir Market Quantitative and Qualitative Analysis 2022

The global coir market size was valued at USD 320.8 million in 2021 and is poised to grow at a significant CAGR of 8.7% during the forecast period 2022 to 2028. Natural fiber known as coir is derived from the coconut husk. It is the fibrous substance that lies between a coconut's tough internal shell and outer shell. Coir is a native of the Asia-Pacific region, notably India and Sri Lanka, where coconut is widely exported and is grown in great quantities. Nowadays, 700 000 tonnes of coir are produced annually throughout the entire world. White coir fibre, which is primarily produced in India's coastal region, accounts for around 60% of the entire world supply, while brown fibre, which is primarily produced in Sri Lanka, accounts for about 35%. The poor countries consume more than 55% of the coir generated annually worldwide.

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Coir Market:
Where coir needs to act quickly is to meet the market's growing demand for environmentally friendly goods. It is created from the fiber that are present between the shell and the exterior surface of a ripe coconut and functions as a light, soilless growing medium. As a naturally occurring substance, it is entirely renewable and regarded as a top option for environmental sustainability. By expediting the fibre gathering process to meet demand, Asia Pacific expects to raise production even further to satisfy the growing need for coir. Since the market shows tremendous potential, research and development activities are still concentrated on the use of coir in geotextiles and other novel applications.

The coir market is vulnerable to numerous threats and has numerous shortcomings. It is constantly in danger from synthetic and other natural fibres. Neglecting the advantages of coir and its market is the main factor preventing the market from expanding. Government policies have not been changed by the market as a whole to increase competitiveness. According to government regulation, coir is considered to be a byproduct of the coconut business rather than a separate industry. As a result, the coir industry's competitiveness has received little attention and much less funding.

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The global coir market segmentation:
1) By Source: Green Coconuts, Brown Coconuts.
2) Product Type: Brown Fibre, White Fibre, Buffering, Bristle Coir
3) Form: Bales, Blocks, Disks & Coins, Husk Chips, Grow Bags & Open Top, Rope.
4) End User: Coir Pith, Coir Fiber, Tufted Mats, Handloom Mats, Curled Coir & Coir Yarn, Geo-Textiles

Coir Market Regional Analysis:
Due to the increasing demand for hydroponics and horticultural applications, Europe currently holds a dominant position in the global Plus coir market and will maintain this position throughout the projection period. Due to the significant growth in coir fibre production of coir fibre products, the Asia-Pacific region is expected to have the greatest CAGR for the projection period.

Major players working in the coir market are Allwin Coir, Coco Argo, FibreDust LLC, Kumaran Fibres, Nature's Bounty PLC, Nelsun Coir, Pelemix Ltd., RA Coir Exports, SIVANTHI JOE COIRS.

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