Coconut coir, also called coconut fiber, is extracted from the outer shell of a coconut. It is a stiff, coarse natural fiber, flexible natural yarn that is extracted from the outer husk of the coconut manually or through machines. White fibers and brown fibers are two common types of coconut fibers extracted from matured coconut shells.

Coir has the highest concentration of lignin that makes it stronger, but less flexible compared to cotton and unsuitable for dyeing.

Market Dynamics:-

Coconut coir is considered eco-friendly product and is suitable for hydroponic and horticultural applications, as it absorbs water. Growing demand for eco-friendly products with lightweight properties coupled with rising upholstery industry is driving growth of the coconut coir market. For instance, according to the Association of Furniture Manufacturers of India (AFMI), the furniture industry in India was valued at US$ 17,922 million in 2015. Furthermore, the residential furniture sector is expected to reach US$ 15 billion by 2020 according to the same source.

Market Outlook:-

Among regions, Europe held a dominant position in the global coconut coir market in 2018. This is attributed to rising demand for hydroponics and horticulture application, as coir is used to control soil erosion. According to Coherent Market Insights, Europe accounted for the highest market share of 36.44%, in terms of revenue, in the global hydroponics market in 2016.

Moreover, Asia Pacific is expected to be a lucrative region in global coconut coir market by 2020, owing to growing coir fiber production of coir fiber products such as rugs, mats, coir pith, and others, in countries such as India and Sri Lanka. For instance, according to Coir Board, Ministry of MSME, Government of India, India and Sri Lanka accounted for around 90% of global coir fiber production in 2015.

Furthermore, governments are focusing on increasing investment to expand their coconut operations as a strategic plan for developing coconut industry in this region, which is also aiding in growth of the coconut coir market. For instance, in December 2019, the Asian Development Bank (ADB) signed a financing facility with a subsidiary of Silvermill Group, one of the leading players in coconut and coconut-based products, in order to expand their operations in Indonesia. This expansion will allow the group to tap into a much larger supply of coconut resource.

Key Players:-

Key players operating in the global coconut coir market include Geewin Exim, Sai Cocopeat Export Private Limited, MS Exporters, Allwin Coir, Benlion Coir Industries, Travancore Cocotuft, and Classic Coir.

Key Developments:-

  • Players operating in the global coconut coir market are focused on adopting different strategies such as mergers and acquisitions, new product launch to strengthen their position in the global market. For instance, in February 2019, Rx Green Technologies, a provider of lab-tested products for cannabis cultivators, launched CLEAN COCO, an agricultural substrate made from coconut coir.

Market Taxonomy:-

On the basis of product type, the global coconut coir market is segmented into:

  • Brown Fiber
  • White Fiber
  • Buffering Coir
  • Bristle Coir

On the basis of source, the global coconut coir market is segmented into:

  • Organic
  • Conventional

On the basis of application, the global coconut coir market is segmented into:

  • Matting
  • Netting
  • Upholstery-mattresses
  • Agriculture
  • Others (Brooms, Brushes, etc.)

On the basis of end-use industry, the global coconut coir market is segmented into:

  • Packaging
  • Bedding & Flooring
  • Agricultural
  • Automobile
  • Others

On the basis of region, the global coconut coir market is segmented into:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Russia
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • North Africa
    • Central Africa
    • South Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users