Press release
From Nature's Embrace to Global Elegance: The Coir Market of 2033 Weaving Sustainable Futures
Coir Market
Global concerns over sustainability and environment protection are increasing the usage of eco-friendly products, which are also creating more demand for coir products, thereby boosting the growth of the Coir market.
By 2033, it is predicted that the coir market would grow at a value-based CAGR of 4.4 percent, with sales rising from US$ 599.2 million to roughly US$ 926.1 million.
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Coir fibre was traditionally used to make coir rope, twines, brooms, brushes, doormats, rugs, and other items. The use of coir in agriculture, horticulture, and hydroponics has increased since the use of coir pith, a dust product of coir, was discovered.
More industries are using coir and coir products as a result of the further modification of coir to produce various types of coir goods, such as coir fibre, coir pith, coir yarn, coir pith block, coir rope, and bales. Over the following ten years, the coir market is anticipated to increase as a result of all these causes.
Growing Demand for Hydroponic Vegetables & Fruits Providing Lucrative Opportunity for Coir Market
Hydroponics is an effective way to grow vegetables and fruits such as tomatoes, lettuce, cucumber, and others. The demand for hydroponic tomatoes is increasing rapidly, as they offer more nutritional benefits than soil-grown tomatoes.
Hydroponic tomatoes eliminate the variables, which restrain growth such as pH, salinity, disease, and poor drainage. Other hydroponic vegetables such as lettuce and cucumber offer similar benefits to consumers. Coir pith is one of the most used growing media for the hydroponics system.
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Analysts' Viewpoint
The global coir market is expected to exhibit extensive growth during the forecast period of 2020-2030, with North America and Europe offering the most incremental opportunity to the market. With the growing use of coir products in agricultural and horticultural activities, the coir market will face beneficial growth in foreseeable future.
Leading market players such as FibreDust LLC, Pelemix Ltd., Coco Argo, and others are adopting strategies including penetrating the hydroponics market, along with focusing on product diversification regarding coir products. Other strategies adopted by key players are focusing on product customization as per customer demand and increasing the production capacity of coir products.
Coir Industry Research by Category
By Nature:
Organic
Conventional
By Product Type:
White Fiber
Brown Fiber
By Source:
Green Coconut
Brown Coconut
By Form:
Bales
Block
Disk & Coins
Husk Chips
Grow Bag & Open Top
Rope
By End Use:
Coir Pith
Coir Fiber
Tufted Mat
Handloom Mat
Curled Coir & Coir Yarn
Geo-Textile
Others
By Region:
North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & Africa
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FAQ's:
Which region will hold the highest market share in the global coir market during the forecast period?
Which region is experiencing the highest growth (CAGR)?
Which factors are impacting the global coir market?
Which are the global trends impacting the coir market?
What strategies must emerging players adopt to capture opportunities in various regions in the coir market?
What is the market structure of the global coir market?
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