Airport Duty-free liquor Market to Reach $10.4 Bn, Globally, by 2027 at 22.2% CAGR

 According to a new report published by Allied Market Research, titled, “Airport Duty-free Liquor Market by Type: Opportunity Analysis and Industry Forecast, 2021–2027,” the airport duty-free liquor market size was valued at $8.9 billion in 2019, and is projected to reach $10.4 billion in 2027, registering a CAGR of 22.22% from 2021 to 2027. The airport duty-free liquor at airport shops have become a favorite destination for travelers who like to shop before starting their journey. This is due to the elimination of local import tax or the duties implemented by the government bodies.

The airport duty-free shops have become a favorite destination for travelers who like to shop before starting their journey. This is due to the elimination of local import tax or the duties implemented by the government bodies. This results in lesser pricing of liquor or any other products such as cosmetics, perfumes, souvenir, and others, which are available at duty-free shops.

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Due to COVID-19 crisis, there is a decrease in international travel, which has affected airport duty-free sales in large proportion. As the lockdown continues in major parts of the world, airport duty-free retailers have unsold stock, while some retailers are finding imaginative ways to keep trading. As the travel retail sector market is temporarily on hold, airport duty-free liquor has experienced crucial sales channel cutoff. Airport duty-free liquor sales declined to large proportion due to the closure of international flight operations.

By type, the whiskey segment accounted for the second maximum share in 2019, owing to increase in demand for whiskey across the globe.

For the past few years cognac has gained universal recognition as one of the finest spirit, which is distilled from grapes. Cognac is also getting popular in the airport duty-free liquor market due to the recent surge in demand for premium liquor.

By region, Europe accounted for the highest revenue in 2019 owing to the tourists from the Middle East, China, the U.S., and Russia contributing a significant part in the market. Also, love for travel is experiencing an upward airport duty-free liquor market trends among Germans, which significantly contributes toward the growth of the market

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Key Benefits For Stakeholders

The report provides a quantitative analysis of the current industry, estimations, trends, dynamics and airport duty-free liquor market share from 2019 to 2027 to identify the prevailing industry opportunities.
The key countries in all the major regions are mapped based on the airport duty-free liquor market trends and share.
Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth airport duty-free liquor market share analysis of the industry segment and size assists to determine the prevailing industry opportunities.
Industry player positioning segment facilitates benchmarking and provides a clear understanding of the present position of players along with the airport duty-free liquor market forecast.

The key players operating in the global airport duty-free liquor industry focus on prominent strategies to overcome competition and maintain as well as improve their share worldwide. The key players profiled in the report include Brown-Forman, Diageo, Erdington, Bacardi, Heineken, Glen Moray, Accolade Wines, Constellation Brands, Inc., REMY COINTREAU, Pernod, and Ricard.

IQF vegetable Market Analysis, Revenue, Size, Price, Market Share, Growth Rate, Forecast to 2030

 According to a new report published by Allied Market Research, titled, “IQF Vegetable Market by Product Type and Application: global opportunity analysis and industry forecast, 2021–2030,” the global IQF vegetable market size was valued at $4.7 billion in 2020, and is projected to reach $7.1 billion by 2030, registering a CAGR of 4.2%. from 2021 to 2030. IQF vegetable are types of frozen food products, which are preserved by using IQF technique that uses the fluidization approach. This results in freezing vegetable for 10–12 minutes and keeps the vegetable fresh for longer period of time. From the past few years, rise has been witnessed in the demand for IQF vegetable from the residential sectors. This is attributable to their availability throughout the year, and they minimize preparation time.

Global Leaders:

Companies can operate their business in highly competitive market by launching new products or updated versions of existing products. Agreement with key stakeholders is expected to be a key strategy to sustain in the market. In the recent past, many leading players opted for product launch to strengthen their foothold in the market. To understand the key IQF vegetable market trends, strategies of leading players are analyzed in the report. Some of the key players in the IQF vegetable market analysis include Dole Food Co., Capricorn Food Products India Ltd., J.R. Simplot Co., Cardinal Foods LLC, B&G Foods Holdings Corp., ConAgra Foods, Inc., Kerry Group Plc., Uren Food Group Limited, Greenyard NV, and Pinnacle Foods, Inc.

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IQF vegetable requires adequate refrigeration and storage facilities. Rapidly increasing number of retail stores, including supermarkets and hypermarkets majorly in developed economies like Europe and North America has enabled easier availability of IQF vegetable, as these stores are equipped with deep refrigeration and improved storage facilities. Supermarkets, hypermarkets, and other high-end retail stores serve as a better distribution point for IQF vegetable.

The outbreak of coronavirus has negatively impacted the IQF vegetable industry along with all stages of supply chain and value chain. During this COVID-19 outbreak, declaration regarding the lockdown in various countries of the world has affected the production of food & beverages sector. This, in turn, has negatively impacted the growth of the IQF vegetables market in terms of sales and revenue generation.

The global IQF vegetable market is segmented into nature, end user, distribution channel, and region. By nature, the market is classified into organic and conventional. On the basis of end user, it is categorized into commercial and residential. Depending on distribution channel, it is segregated supermarket/hypermarket, B2B, online store, and others. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Argentina, and rest of LAMEA).

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Key findings of the study

• By nature, the conventional segment accounted for the highest IQF vegetables market share in 2020, and is estimated to grow at a CAGR of 4.1%.
• On the basis of end user, the commercial segment was the share contributor in 2020, and is expected to grow at a CAGR of 4.1% from 2021 to 2030.
• Depending on distribution channel, B2B was the prominent segment in 2020, and is projected to exhibit a CAGR of 3.5% during the forecast period.
• Region wise, North America occupied the maximum share in the market in 2020, and is expected to be the dominating segment during the IQF vegetables forecast period.

Industrial Hemp Market to Surpass US$ $18.6 Billion by 2027

 According to a new report published by Allied Market Research, titled, “Industrial Hemp Market by Type, Application, and Source: Opportunity Analysis and Industry Forecast, 2021–2027,” The global industrial hemp market size was valued at $4.9 billion in 2019, and is projected to reach $18.6 billion by 2027, registering a CAGR of 22.4% from 2021 to 2027. 

Key Findings Of The Study

• By type, the hemp oil segment dominated the global market in 2019, and is expected to retain its dominance throughout the forecast period.
• By application, the personal care products segment accounted for highest share in the industrial hemp market growth in 2019, and is projected to grow at a CAGR of 19.6% from 2021 to 2027.
• By source, the conventional segment led the global demand in 2019, and is expected to retain its dominance throughout the industrial hemp market forecast period.
• By region, Asia-Pacific accounted for highest industrial hemp market share in 2019, and is expected to grow at a CAGR of 20.4%. 

Global Leaders:

The key players profiled in the industrial hemp industry includes Hempco Food and Fiber Inc., Ecofibre, Hemp Inc., GenCanna, HempFlax Group B.V., The Konoplex Group, South Hemp, Plains Industrial Hemp Processing Ltd., MH medical hemp and Hempro International GmbH & Co. KG.

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Hemp seeds or industrial hemp is obtained from “Cannabis sativa” which contains only traces of tetrahydrocannabinol (THC). Hemp seeds are especially grown for commercial use and it is used in wide range of products. Hemp seeds are rich in two essential fatty acids, linolenic (omega-3) and linoleic (omega-6). They are also rich source of vitamin B1, vitamin B2, vitamin B6, vitamin D, vitamin E, magnesium, calcium and potassium among others. Moreover, very rare plant-based foods are a complete source of protein, hemp seeds on the other hand possess descent amount of protein that can be considered as a value addition to a vegan diet. Since, the humans cannot generate essential fatty acids, the addition of hemp seeds in food application will be useful as they are a rich source of linoleic (omega-6) and linolenic (omega-3). Furthermore, hemp seeds can be used to produce a variety of food products such as hemp milk, hemp oil, hemp cheese substitutes and hemp-based protein powder. Thus, owing to rich source of protein and vitamin hemp seed are used in food and beverages which further fuels the growth of industrial hemp market.

The raising legalization of the cultivation of hemp is encouraging the producer and research institution to develop new products from industrial hemp. In addition, legalization and increased production of hemp oil may improve the cost of producing hemp oil and subsequently hemp biodiesel. Biofuels is one such application, which is anticipated to have crucial growth potential in the upcoming years. Continuous rise in the price of oil (petrol & diesel), along with the raising concerns about global warming, biofuels have been gaining popularity. Moreover, hemp seed extracts are used to produce hemp biodiesel, which can be used any diesel operated vehicle. Furthermore, industrial hemp can be used to produce ethanol, which is currently processed from food crops like corn and wheat. This process will result in increased efficiency of food production. Thus, raising new product development from hemp is becoming the current industrial hemp market trends.

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COVID-19 was declared a pandemic by the World Health Organization (WHO) on March 11, 2020. The COVID-19 pandemic has had a significant impact on the industrial hemp market, due to import and export restrictions on hemps and its related products. In addition, lockdown measures imposed by governments are key challenges exporters face in North America and Asian markets, as they disrupt global supply chain.

Industrial hemp creates one of the most eco-friendly fabrics in the world owing to which hemp fiber is also called as fiber of hundred uses. Moreover, pure hemp has a texture which is similar to linen and because of its flexibility it used in variety of products such as from clothing to home wares, shoes, accessories, dog collars and others.

The market has been segmented based on type, application, source and region. Based on type, the market is segmented into hemp seed, hemp oil, hemp fiber and others. Based on application the global market is studied across food and beverages, textiles, personal care products, pharmaceuticals and others. On the basis of source, the market is categorized into conventional and organic. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Cedarwood Oil Market Analysis Expected to Reach $587.3 Million by 2030

 According to a new report published by Allied Market Research, titled, “Cedarwood Oil Market by Technique, End Use, and Industry: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global cedarwood oil market size is expected to reach $587.3 million by 2030, growing at a CAGR of 6.6% from 2021 to 2030.

Key findings of the study 

• The global cedarwood oil market size was valued at $303.8 million in 2020, and is projected to reach $587.3 million by 2030, registering a CAGR of 6.6% from 2021 to 2030.
• By technique, the steam distillation segment was the highest contributor to the market, with $257.8 million in 2020, and is estimated to reach $484.7 million by 2030, at a CAGR of 6.3% during the forecast period.
• By end use, the aroma therapy segment was the highest contributor to the market, with $119.8 million in 2020, and is estimated to reach $217.8 million by 2030, at a CAGR of 5.9% during the forecast period.
• By industry, the spa & relaxation segment was the highest contributor to the market, with $205.9 million in 2020, and is estimated to reach $390.7 million by 2030, at a CAGR of 6.4% during the forecast period.

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Cedarwood oil is gaining rapid traction among consumers and various manufacturers in pharmaceuticals, food & beverages, spa & relaxation, and personal care industries, owing to numerous therapeutic and medicinal properties found in the cedarwood oil. Cedarwood oil is extensively used in manufacturing of insect repellents, anti-bacterial products, perfumes, shampoos, colognes, and beauty soaps. Furthermore, consumers are increasingly using cedarwood oil in aroma therapy that promotes calmness and soothing of mind. Growth in applications of cedarwood oil is expected to boost growth of the global cedarwood oil market.

The cedarwood oil has anti-anxiety and anti-depressant properties, which fuels its demand in the spa & relaxation industry. Moreover, rapidly growing health and wellness tourism across the globe propels demand for the various therapies such as spa therapy, body massage, and aroma therapy. This boosts consumption of cedarwood oil. Furthermore, medicinal and therapeutic benefits associated of oil are expected to foster demand for cedarwood oil in the pharmaceutical industry, thereby contributing toward growth of the global cedarwood oil market.

The outbreak of the COVID-19 pandemic had a neutral impact on the cedarwood oil industry. However, lockdown measures implemented by governments resulted in non-operation of production facilities, disruptions in supply chain, and decline in exports-imports. China is among the top suppliers of cedarwood oil and the origin of the COVID-19 in China hampered the import of cedarwood oil in European countries. On the other hand, medicinal benefits of cedarwood oil have resulted in a spike in demand in North America and Europe. Thus, there has been a neutral or very low impact of the COVID-19 on the cedarwood oil market.

Rise in penetration of e-commerce channels across the globe is expected to boost growth of the cedarwood oil market. E-commerce has made the distribution of cedarwood oil simpler than before. Consumers can browse different brands of cedarwood oil on e-commerce platforms and can easily order them from the comfort of their home. As the cedarwood oil is very underpenetrated product, e-commerce has enabled consumers to easily search and buy the desired brand of cedarwood oil.

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The market is segmented on the basis of technique, end use, industry, and region. By technique, the market is segregated into steam distillation, carbon dioxide distillation, and cold press. On the basis of end use, it is categorized into cosmetics & skincare, toiletries, aroma therapy, and others. Depending on industry, it is segmented into spa & relaxation, pharmaceuticals, and others. Region wise, the cedarwood oil market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, the Netherlands, Spain, Austria, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

By technique, steam distillation was the dominating segment, garnering a market share of 84.8% in 2020. This is attributed to increase adoption of steam distillation technique for production of cedarwood oil as this technique offers large scale production at industrial scale, helps to extract maximum oil from raw material and offers economies of scale.

On the basis of end use, cosmetics & skincare is estimated to be the fastest-growing segment during the forecast period. Skin benefits such as acne treatment and hair loss treatment offered by cedarwood oil propels its adoption in the production of skincare and cosmetic products across the globe.

By industry, pharmaceuticals is expected to be the most opportunistic segment. Various therapeutic and health benefits associated with cedarwood oil such as antiseptic, anti-inflammatory, diuretic, anti-fungal, and antispasmodic is projected to boosts its utilization in production of various medicines in the future.

Region wise, North America dominated the market, accounting for 37.5% of the cedarwood oil market share in 2020. U.S. is the leading producer and consumer of cedarwood oil in the globe. Increase in consumer awareness regarding availability of cedarwood oil, increase expenditure on health and wellness, and rise in prevalence of various skin and mental disorders are the major factors that boosts growth of the cedarwood oil market in the region.

Food Service Feta Cheese Market Expected to Reach $3,816.8 Million by 2030

 food service feta cheese market size was valued at $2,187.5 million in 2019 and is expected to grow at a CAGR of 6.9% to reach the market size of $3,816.8 million in 2030. French feta was the dominant segment in the type category in 2019 and is expected to continue the dominance throughout the forecast period. Europe was the largest regional market in 2019, and is expected to continue the trend throughout the forecast period. Feta cheese is a white colored brined cheese that is made with a combination of goat, sheep or cow milk. It is very popular in Europe and North America, and is gaining traction/popularity in the Asia-Pacific region. Feta cheese is used in all sorts of dishes ranging from appetizers to desserts.

Key Findings Of The Study:

• On the basis of type, the Bulgarian feta segment is projected to witness the highest CAGR of 7.2%, in revenue terms, during the forecast period.
• On the basis of source, the sheep segment is expected to dominate the market from 2021 to 2030.
• The fast food outlets segment in the distribution channel category is expected to grow at a significant CAGR during the forecast period.
• U.S. was the largest country, in terms of revenue generation for food service feta cheese in 2020.
• Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 8.1% from 2021 to 2030.

Top Companies:

The key players profiled in the report are Arla Foods AMBA, Fonterra Co-Operative Group Limited, Dodoni S.A., Mevgal, Clover Leaf Cheese Ltd., Lactalis American Group, Inc, Saputo Inc., The Kraft Heinz Company, Kolios S.A, And Sadafco

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The food service feta cheese market is subject to notable growth during the forecast period. The growth of this market can be attributed to growing affinity of people toward prepared meals/takeaways that include cheese from food service outlets. Moreover, growing reliance on convenience among working population coupled with rise in the number of options to acquire food has paved the way for the growth of food service feta cheese market. Furthermore, feta cheese is known to be an excellent source of micro and macro nutrients that aid in the healthy functioning of the body, which makes it very popular among the health conscious cohort of the global population.

However, growing adoption of veganism acts as the major restraint in the growth of feta cheese and other dairy/animal products. Consumers are shifting away from animal sources and toward plant-based ones which can be related to increased anti-meat sentiments, and concerns over animal cruelty. Consumer preferences are evolving toward plant-based alternatives because to a growing desire for clean-label products, worries about sustainability, and a pressing need to avoid allergens. On the contrary, growing adoption of feta cheese in untapped countries in the Asia-Pacific and LAMEA region as well as growing adoption of western diet and lifestyle in such regions is expected to open avenues for the food service feta cheese market growth.

The food service feta cheese market is segmented by type, source, distribution channel, application and region. Based on type, the market is split into Bulgarian Feta, German Feta, French Feta, PDO Feta, and Others. By source the market is classified into cow milk, sheep milk, and goat milk. Based on distribution channel, the market is divided into full-service restaurants, fast food outlets, catering services, bakeries/pastries, and others. By application, the market is segmented into salads, pastries, sandwich, pasta, meat, pizza, and others recipes. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Greece, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, UAE, Nigeria, Turkey, and Rest of LAMEA)

Based on food service feta cheese market analysis by type, French Feta was the largest segment in terms of value and volume in 2019 and is expected to retain its dominant position throughout the forecast period. The growth of this segment can be attributed to high availability of this variant of the feta cheese. Bulgarian feta was the fastest growing variety of feta cheese during the forecast period. This is due to milder taste and rise in adoption of this form of feta due to growing curiosity among cheese enthusiasts al around the world.

Based on food service feta cheese market forecast by source, sheep milk was the dominant segment in the category. It was valued at $1,259.8 million in 2019 and is expected to garner a market size of $2,124.8 million by 2030 growing at a CAGR of 6.5%. On the contrary, the cow milk segment was the fastest growing segment throughout the forecast period.

Based on distribution channel, fast food outlets accounted for majority of the global share in 2019 and is expected to continue the trend throughout the forecast period. The growth in this segment in food service feta cheese market can be attributed to growing dependency of consumer on such food vending formats. The full-service restaurant segment is expected to grow at the fastest growth rate throughout the forecast period. The growth of this segment can be attributed to rise in the inclusion of different feta cheese options in such food service establishments.

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Based on the application, salads, sandwich and pizza accounted for majority of the share in 2019 with salads leading the market in terms of volume and value share. Pasta is estimated to grow at the fastest growth rate of 8.1% throughout the forecast period.

Based on region, Europe was the largest market in 2019 and is expected to remain dominant throughout the forecast period. However, Asia-Pacific was the fastest growing regional segment in the food service feta cheese market.

Microgreens Market Share | Key Players and Strategies

 According to a new report published by Allied Market Research, titled, “Microgreens Market" The microgreens market size was valued at $1.3 billion in 2019, and is estimated to reach $2.2 billion by 2028, growing at a CAGR of 11.1% from 2021 to 2028.\

Global Leaders:

The key players profiled in this report include AeroFarms, Fresh Origins, Gotham Greens, Madar Farms, 2BFresh, The Chef's Garden Inc., Farmbox Greens LLC, Living Earth Farm, TruLeaf Sustainable Agriculture, and Bowery Farming.

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Microgreens are edible plants that are harvested in the juvenile growth stage. They have a quick crop cycle. They are ready to harvest in around 7 to 14 days, depending on the species and varieties of the microgreens. Microgreens are majorly cultivated in the indoor vertical and greenhouse farming methods as they need intense care and controlled environment. The favorable temperature for the healthy and desired growth of microgreens is 18 to 24°C and relative humidity (RH) of 40 to 60%; therefore, protected cultivation is majorly used.  

Microgreens have been gaining major popularity among the health-conscious people as they contain huge among of vitamins and antioxidants, which helps reduce the risk of cardiovascular and chronic diseases. Furthermore, Microgreens Market Demandneed comparatively less resources to grow at home for daily consumption; therefore, it can be easily grown in the garden and rooftop.

Rise in adoption of the protected cultivation and financial and technical support from the government to farmers for erection of protected cultivation plants are likely to support to increase the production of microgreens.

Furthermore, growing use of Microgreens Market Trends in the food services industry as flavor and texture enhancement ingredient is expected to surge the demand for microgreens. Due to the COVID-19 pandemic, supply chain has been adversely affected and whole food & beverage industry is still incurring losses. Governments are frequently practicing total lockdown to limit the spread of corona virus, in which restaurants are strictly suggested to close.  

Restaurant is one of the major selling points of the microgreens. Temporarily, COVID-19 pandemic is restraining the growth of the global microgreens market during the forecast period. The microgreens market is segmented on the basis of type, farming, end user, and region. On the basis of type, the market is categorized into broccoli, cabbage, cauliflower, arugula, peas, radish, basil, carrots, and others. By farming, it is segregated into indoor vertical farming, commercial greenhouses, and other.

By end user, market is segmented into retail, food service, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, Spain, Italy, France, Germany, UK, Rest of Europe), Asia-Pacific (China, Japan, India, Singapore, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, Africa). 

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On the basis of type, the arugula segment was valued at $205.6 million in 2019, and is projected to reach $308.3 million by 2028, registering a CAGR of 9.3% from 2021 to 2028. Arugula is one of the most popular type of microgreens among the chefs and consumers. It is majorly used in the restaurants by the chefs as favoring and garnishing agent. It is rich sources of vitamins and minerals. For instance, according to the United States Department for Agriculture (USDA) Trusted Source nutrient database, a cup of arugula weighing around 20 grams contains approximately 5 calories. It contains 0.516 g of protein and 0.132 g of fat per 20 grams of arugula microgreens. 

On the basis of farming, the commercial greenhouse segment is estimated to reach $642.6 million by 2028, at a CAGR of 9.9%. Growing area under greenhouse farming and rapid adoption of the greenhouse farming for the cultivation of the high valued crops including microgreens are likely to favor the Microgreens Market Growth. Microgreens need specific temperature and humidity for its healthy growth; therefore, greenhouse is suitable farming method for the cultivation of the microgreens.

Furthermore, government is actively supporting the greenhouse farmers by providing subsidy and technical help, which is expected to increase the area under greenhouse farming. Region wise, Europe was valued at $415.5 million in 2019, and is expected to reach $640.3 million by 2028, registering a CAGR of 9.7% from 2021 to 2028. Growing start-ups who deals in production and selling of the microgreens are majorly favoring the growth of the Europe microgreens market during the forecast period. For instance, Infarm, founded in 2013, the Berlin-based startup, has developed vertical farming tech for grocery stores, restaurants, and local distribution centers to bring fresh and artisan produce much closer to the consumer is expanding to Paris.  
The players operating in the microgreens industry have adopted product launch and business expansion as their key developmental strategies to expand their Microgreens Market Share, increase profitability, and remain competitive in the market. 

Coco Coir Market Projected to Hit $525.70 Million at a 11.6% CAGR by 2027

 According to a new report published by Allied Market Research, titled, “Coco Coir Market by Product, Application, and Consumer: Opportunity Analysis and Industry Forecast, 2020–2027,” the coco coir market size was valued at $369.70 million in 2019, and is expected to garner $525.70 million by 2027, registering a CAGR of 8.2% from 2020 to 2027

Key findings of the study

• On the basis of product, the coco coir grow bags segment was the highest contributor to the market, and is expected to grow at a CAGR of 6.70% from 2020 to 2027.
• By application, the coconut meals segment led the market in terms of value in 2020, and is estimated to grow at a CAGR of 12.20% from 2020 to 2027.
• Deepening on the consumer, the green houses segment is expected to grow at a steady CAGR of 7.50% from 2020 to 2027.
• Region wise, North America is expected to grow at a steady CAGR of 6.80% from 2020 to 2027.
•   

The key players operating in the coco coir industry are the Firedust, Pilipinas Ecofiber Corporation, Universal Coco Indonesia, Lima Group, Pelemix Ltd., Consarc Pvt Ltd., Bali Coco Fiber, Cocofiber, Coco Green Pvt Ltd., and Lanka Coco Products.

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Hydroponics is an effective way to grow vegetables and fruits such as tomatoes, lettuce, and cucumber. The demand for hydroponic tomatoes is increasing rapidly, as they offer more nutritional benefits than soil-grown tomatoes. Hydroponic tomatoes eliminate the variables, 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. Coir pith exhibits properties such as better air-to-water ratio and wide variations in carbon to nitrogen ratio, which help the crops to grow without any restraints. Surge in demand for hydroponic fruits and vegetables provides lucrative opportunities for the growth of coco coir market forecast period. Geotextile products are used for controlling soil erosion and increasing soil stability. Geotextiles are utilized in civil engineering, agricultural, and horticulture. Traditionally, synthetic polymers were used for manufacturing geotextiles, however, coir has emerged as an eco-friendly and low-cost substitute. In horticulture and hydroponics industries, coir geotextiles are suitable for use, as they absorb water and control soil erosion. Wide applicability of geotextile products and eco-friendly property of coir geotextiles significantly contribute toward the growth of the global coco coir market. 

Coir geotextile is a large continuous sheet used to uncover slope or surfaces that are prone to erosion. . This coir-based sheet reduces raindrop force, runoff rapidity, and surface erosion on disturbed soils. In addition, it may safeguard new plant life and promote growth of plant life by slowing evaporation of water from soil, thus retaining soil humidity. Coir geotextile—a 100% organic and environmental fiber with high durability—is now being successfully employed for enhancing soil behavior, preventing soil erosion, and helping in consolidation of soil. Increase in demand for functional and high-performance textiles in agriculture, road construction, and erosion control applications and development of the construction industry are anticipated to accelerate the coco coir market growth.

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Furthermore, this product has gained increased traction in the coco coir market, owing to its superior benefits such as liquid repellency and mechanical strength. Moreover, rise in investments by government in public utility infrastructure owing to rapid industrialization is expected to drive the coco coir market growth. The efforts to control soil erosion and restore degraded lands with the help of geotextiles are projected to offer remunerative opportunities for the expansion of the coco coir market in the coming years.

The outbreak of COVID-19 has severely impacted the global economies, and has caused severe disruption in supply chain. Coir is a by-product of coconut, and as the processing and manufacturing of agricultural products has been hit, it could affect the production of coir. Similarly, lockdown has disrupted the end-use industry of coir, thus negatively impacting coco coir market trends. 

Moreover, suspended trade activities have stopped the supply of coir products to Europe and North America where it is majorly being used. South Asian countries account for a major production of coir, and as production has been affected, the coir stock could be disrupted. Nonetheless, this overall scenario could be for a limited time, as after the pandemic is brought under control, the coir market is projected to grow at a significant rate. Thus, the COVID-19 outbreak is expected to have a moderate impact on the global coir market.

The global coco coir market is segmented into products, application, consumer, and region. Depending on product, the market is categorized into coco coir grow bags, bales, coir materials, open tops, blends & loose substrate, and others. By application, it is differentiated into rope & cordage, coco nets & twines, stitched mats, coconut meals, husk, and others. On the basis of consumer, is bifurcated into green houses and sellers.