What is Global Coco Peat Market?
The Global Coco Peat Market is a fascinating and dynamic sector that has been gaining significant attention in recent years. Coco peat, also known as coir pith or coir dust, is a by-product of the coconut industry. It is a natural, renewable resource that is extracted from the husk of coconuts. This versatile material has a wide range of applications, from agriculture to industrial uses. The global market for coco peat has been growing steadily, driven by increasing awareness about its benefits and rising demand from various sectors. In 2023, the market was valued at US$ 357 million and it is expected to reach US$ 432 million by 2030, growing at a compound annual growth rate (CAGR) of 2.8% during the forecast period from 2024 to 2030.
Brown Fibre, White Fibre, Others in the Global Coco Peat Market:
The Global Coco Peat Market is segmented into three main categories based on the type of fibre: brown fibre, white fibre, and others. Brown fibre is derived from mature coconuts and is known for its strength and durability. It is commonly used in products like doormats, brushes, and mattresses. White fibre, on the other hand, is obtained from immature green coconuts. It is softer and finer than brown fibre, making it ideal for use in upholstery padding, sacking, and horticulture. The 'others' category includes mixed and specialty fibres that are used for various specific applications. Each type of fibre has its unique properties and uses, contributing to the diversity and versatility of the coco peat market.
Packaging, Bedding and Flooring, Others in the Global Coco Peat Market:
Coco peat is widely used in several areas such as packaging, bedding and flooring, and others. In the packaging industry, coco peat is used as a biodegradable and eco-friendly alternative to synthetic materials. It is also used in the production of bedding for animals due to its high absorbency and excellent odour control properties. In the flooring industry, coco peat is used as a component in the manufacture of carpets and rugs. Other uses of coco peat include horticulture, where it is used as a soil conditioner and growing medium, and in industrial applications, where it is used as an oil absorbent. The diverse uses of coco peat across various sectors underline its importance and potential in the global market.
Global Coco Peat Market Outlook:
Looking at the market outlook for the Global Coco Peat Market, it's clear that this sector is on a growth trajectory. In 2023, the market's worth was pegged at US$ 357 million. Fast forward to 2030, and it's projected to hit the US$ 432 million mark. This represents a compound annual growth rate (CAGR) of 2.8% during the forecast period from 2024 to 2030. This steady growth is a testament to the increasing recognition of coco peat's versatility and eco-friendly properties in various industries worldwide.
| Report Metric | Details |
| Report Name | Coco Peat Market |
| Accounted market size in 2023 | US$ 357 million |
| Forecasted market size in 2030 | US$ 432 million |
| CAGR | 2.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | 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 |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
