Published on : Sep 20, 2019
Worldwide production of coir stands at around 350,000 metric tons every year. Sri Lanka and India collectively account for almost 90% of the total production. It is a renewable resource that is underutilized, which offers many opportunities for the growth of global coir industry.
Despite the proliferation of coir being limited to the major coconut producing countries, less than 10% of the total global output of husk is used for the extraction of coir fiber. Over the years, there has been little improvement in the structural and production patterns of coir products. This didn’t attract any new customer nor did it make younger generation familiar with the coir products.
Boom in Hydroponics Industry to Drive Global Demand for Coir Pith
Development of non-conventional, innovative products is likely to drive the growth of global coir industry. Increased research and development activities in countries like India and Sri Lanka have resulted in the development of many new coir products, such as yoga mats, floor runners, hanging baskets, coir brushes and so on. These new products are cost effective and environmentally friendly, thereby driving demand for coir products.
Coir products find use in a wide variety of industries, such as geo-textile, hydroponics, agriculture, upholstery, and horticulture. These days, consumers are more inclined toward use of environmental-friendly products, which works as a catalyst for the global coir market.
In many of the developed regions such as North America and Europe where hydroponics industry is booming, the demand for coir pith in rising owing to soil-less growing media and unique properties. This is likely to add impetus to the global coir market during the assessment period.
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Coir products come with extraordinary properties such as high durability, ability to control soil erosion, high water absorption, and the like. These properties render coir highly desirable in a wide variety of applications. Over the years, coir fiber has found its use in the making of coir ropes, cots, and rugs. After the discovery of utilities of coir pith or coir dust, its use has increased in various sectors such as, hydroponics, horticulture, and agriculture industries. Such varied and increased uses of coir is poised to steer global coir market toward growth.