Coconut Fibre Market Scope
Coconut fiber or coir is a versatile naturally occurring fibrous husk of the coconut shell. Coir products have a wide variety of advantages such as high durability, high water absorption, and soil erosion control capacity that find great applications in the manufacturing of sacking, brushes, doormats, rugs, mattresses, insulation panels, and packaging. These are also used for mulching and decorative purposes. With growing awareness and inclination of the population towards sustainable and eco-friendly products coupled with their rising disposable income, there is an upsurge in the adoption of coconut fiber in various industries.
|Unit||Value (USD Million)|
|Key Companies Profiled||Coco Coir Global (Vietnam), Universal Coco (Indonesia), FibreDust LLC (United States), Pelemix Ltd. (Israel), Selvam Coco Tech (India), RA Coir Exports (India), Kumaran Fibres (India), Allwin Coir (India), Vaighai Group (India) and Thiraviyam Coco Products (India)|
Several large and small industry players participate extensively in environmentally sustainable tactics in order to cultivate coconut fibers and enhance their manufacturing capabilities by leveraging modern agriculture technology. Numerous collaboration and partnerships with the government pertaining to coir production also aids in strengthening the market competencies of the key players. This offers them a competitive edge to sustain their market position. Research Analyst at AMA estimates that Indian Vendors will contribute to the maximum growth of Global Coconut Fibre market throughout the predicted period.
Coco Coir Global (Vietnam), Universal Coco (Indonesia), FibreDust LLC (United States), Pelemix Ltd. (Israel), Selvam Coco Tech (India), RA Coir Exports (India), Kumaran Fibres (India), Allwin Coir (India), Vaighai Group (India) and Thiraviyam Coco Products (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Apex Coconuts and Solar Energy Limited (India), Pilipinas Ecofiber Corp. (Phillipines), Thuran Coir Mills (India), Srimathi Exports (India) and Cropking Incorporated (India).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Coconut Fibre market by Type , by Application (Brown Fibre, White Fibre, Buffering Fibre and Bristle Fibre) and Region with country level break-up.
On the basis of geography, the market of Coconut Fibre has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesIn September 2022, Profile Products announced the acquisition of Nivetha Exporters, a leading producer of coco coir products. Through this acquisition, the company gained access to Nivetha Exporters product lines as well as best-in-class facilities in South India along with a strong workforce. After the acquisition, Nivetha Exporters has been renamed to CoirSci.
In August 2020, FibreDust LLC partnered with Profile Products to launch Coir WTF 70/30, a patented combination of wood fiber and coir. The paired product created an exclusive, sustainable alternative growing media, which is also easy to compost and dispose of. This further strengthened the company’s efficient global delivery.
Influencing Trend:Growing Popularity of Coir in Geotextile Products for Promoting Quick Vegetation and Rising Adoption of Coir as an Alternative to Peat-Based Compost
Market Growth Drivers:Growing Demand and Utilization of Eco-Friendly and Sustainable Products and Supportive Government Initiatives to Promote Entrepreneurship in Coir Production
Challenges:Non-availability of Modern Technology Leading to Low Coconut Fibre Productivity
Restraints:Lack of Suitable Infrastructure for Coir Production and Processing
Opportunities:Increasing Innovative Applications of Coconut Fibre in the Manufacturing Industry and Expanding Market Capabilities for Coir-Based Erosion Control Products
Key Target AudienceManufacturers, Sellers and Suppliers, Agricultural Institutions, Government Agencies, Potential Investors, Research and Development Institutes, End User Industry, Customers and Others