Coco Peat Market: Overview

  • Coco peat is also known as coir pith or coir peat. It is usually obtained during the extraction of coir fiber from coconut. Coco peat is extracted from the tissues surrounding the seed of the coconut palm. Coconut palm is grown on 10 million hectares of land across the globe.
  • Coco peat is used in several commercial applications across the world. It is extensively used as a growing medium, soil substrate, and an organic manure and soil conditioner for crops.
  • Coco peat is also used in applications such as floriculture, floriculture, and hydroponic environments across the world. Moreover, coco peat acts as a substitute for rock wool, peat moss, stone wool, and perlite substrates, which are either inorganic or non-renewable.

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Key Drivers of Global Coco Peat Market

  • Rising demand for hydroponic vegetables and fruits are expected to boost the coco peat market worldwide during the forecast period. Hydroponics is the method of growing vegetables and fruits, such as tomatoes, cucumber, and lettuce, without soil, by using mineral nutrient solutions in a water solvent. Demand for hydroponic vegetables and fruits has been increasing rapidly over the last few years, as they provide nutritional benefits over soil-grown vegetables and fruits. 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.
  • One of the major factors driving the coco peat market is the increasing demand for geotextile products. Geotextile products are extensively used for control of soil erosion and increase in soil stability, due to their advanced properties. Geotextiles are utilized in civil engineering, horticulture, and agriculture sectors. Traditionally, synthetic polymers were primarily used for manufacture of geotextiles. However, coco peat has emerged as an eco-friendly and low-cost substitute for synthetic polymers. Coco peat geotextiles are suitable for use in horticulture and hydroponics industries, as they absorb water and control soil erosion.

Key Developments and Policies

  • In June 2019, FibreDust LLC, announced the release of a new premium blend of coir and wood fiber, creating a new level of growing mediums. As an organic medium, coir has significant advantages ranging from water retention to aeration and from low EC to near-neutral pH. Addition of wood fibers increases the cation exchange capacity (CEC) of the mix, thereby allowing the plant to avail increased amount of nutrients.
  • In September 2018, the National Coir Research and Management Institute (NCRMI) in India made a major breakthrough in the process of manufacture of coir pith from coir fibers, which could help meet the country's coir export target of INR 20,000 Cr (in value) by the end of 2020.

Regional Analysis of Global Coco Peat Market

  • Based on region, the global coco peat market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Europe is expected to hold a major share of the global coco peat market during the forecast period. The hydroponics concept, which is largely associated with the use of coco peat, is increasingly becoming favorite among consumers in Europe.
  • A major factor promoting growth of the coco peat market in North America is growing use of nature-friendly products in different end-use industries across the region. Consumers in the region are fascinated by the use of geotextiles. Also, the demand for eco-friendly products in the region is rising extensively, as consumers are shifting toward renewable economy.
  • Also, Asia Pacific is likely to be a high-potential market for coco peat during the forecast period. Growing awareness regarding benefits of use of coco peat and abundance of coconut farms in the region are driving the coco peat market in Asia Pacific.

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Key Players in Global Coco Peat Market:

Key players operating in the global coco peat market are:

  • Dutch Plantin
  • Samarasinghe Brothers
  • SMS Exporters
  • Sai Cocopeat
  • Kumaran Coirs
  • Allwin Coir
  • Benlion Coir Industry
  • CoirGreen
  • Dynamic International
  • JIT Holdings
  • Rajesh Agencies
  • HortGrow
  • Xiamen Green Field

Global Coco Peat Market: Research Scope

Global Coco Peat Market, by Type

  • Brown Fiber
  • White Fiber
  • Others

Global Coco Peat Market, by Application

  • Agricultural and Horticultural Use
  • Packaging
  • Bedding & Flooring
  • Others

Global Coco Peat Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Switzerland
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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