The use of eco-friendly items has expanded as the globe becomes green and adopts sustainable practises in all industries. Eco-friendly products like coir and coir products are well-known examples. Peat moss can be replaced with coir pith, and wood with coir fibre.Due to its eco-friendly qualities, rubberized coir is also frequently used in the automotive industry. Coir is a completely natural, organic material that is affordable, doesn’t hurt the environment, and is available.
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.
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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.
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FAQ’s:
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