Global Coir Market to Bank on Massive Demand and Government Initiatives in Asia Pacific - QYR Consulting

LOS ANGELES, June 24, 2019 /PRNewswire/ -- Extracted from the husk of coconuts, coir is a natural fiber. It is found between the internal, hard shell and the outer layer of coconut. The products made from coir are used in various industries such as geo-textile, upholstery, hydroponics, agriculture and horticulture. Consumers are preferring eco-friendly products, which increases the demand for coir products. Hydroponics industry is trending in some of the developed regions including North America and Europe, which has ultimately increased the demand for coir pith because of its extraordinary properties. 

Coir fiber is traditionally used to produce rugs, coir rope, doormats, twines, brushes and brooms due to their cutting-edge properties such as soil erosion control capacity, higher water absorption capacity and high durability. Coir has its originality in the Asia Pacific region, especially in Srilanka and India where coconuts are produced in huge quantity and exported all over the globe.

Market Dynamics

• Coir has advanced properties such as enhancing soil stability and controlling soil erosion. It therefore emerges as a low-cost and eco-friendly option for geotextile, which is used in horticulture, agriculture and civil engineering
• Coir is a completely natural and organic resource, which is not harmful. Coir fiber is used as a substitute for wood. These factors are contributing to the growth of the global coir market
• The growing demand for hydroponic tomatoes and other vegetables has increased in the past few years. Coir pith is the significant component that is used to grow media for the hydroponics system, which ultimately responsible for the growth of the market

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Top Players in the Market

Some of the key players operating in the global coir market are Classic Coir, Geewin Exim, BENLION COIR INDUSTRIES, SMS Exporters, Travancore Cocotuft, Sai Cocopeat Export, Kumaran Coir and Allwin Coir. 

Kerala Government's Efforts to Modernize India's Coir Industry

While flax, cotton and hemp have developed over time, coir is far behind and slowly emerging which tells a story of its struggle to survive. However, due to a series of efforts taken by the Kerala government the coir industry is changing eventually. Introducing various new products and machines for making yarn is on the agenda of the Kerala Government.   

Market Segmentation

 By Type

• White Fiber
• Brown Fiber

 By Application

• Carpentry Industry
• Food Industry
• Fishing Industry
• Agriculture Industry
• Upholstery Industry

By Region

Due to the largest production of coir in India and Srilanka, Asia Pacific region is dominating the coir market followed by North America and Europe region. To promote coir industry, India has taken systematic and considerable efforts such as arranging International Coir Festival. These efforts encourage the market for further expansion and to increase the production. 

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Research Methodology

An exclusive research methodology adopted by the research analysts is the mixture of secondary and primary research. There are various key steps followed by the team of experts to make this report a comprehensive one. For instance the first step of the research methodology is information procurement. This stage involves obtaining market data or relevant information with the help of several methodologies and sources. After procuring information the next obvious step is providing thorough analysis of the information. The analysts mapped and analyzed all the necessary information gathered with the help of primary and secondary research. It also includes analyzing differences in data observed through different data sources.   

In order to assume viable conclusions the data points are placed at appropriate places in the market. Validation of data is the most significant step in research methodology. Not only validation but re-validation with the help of complicatedly designed process, assists QY Research in finalizing data points, which are used for the final calculation.

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SOURCE QY Research