The North America Coconut Shell Powder Market would witness market growth of 6.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 18,690.3 tonnes, showcasing a growth of 7.2% (2019-2022).
Growing coconut cultivation in emerging economies, such as parts of Latin America and Asia Pacific, has influenced the production and supply of coconut shell powder. Expanding raw material sources has led to increased market opportunities and competitive pricing. Manufacturers are focusing on value addition and diversification of coconut shell powder products. This includes developing novel formulations, creating blends with other natural ingredients, and exploring new industry applications. Increased awareness of the importance of quality standards and certifications has prompted companies to comply with regulations and acquire certifications ensuring the purity and quality of coconut shell powder products. Compliance with international standards enhances market credibility and consumer trust.
Many companies have invested in research and development to innovate and diversify their product offerings. Companies explore new applications, formulations, and blends to meet the evolving demands of different industries. Maintaining high product quality and obtaining certifications for purity, sustainability, and compliance with industry standards have been crucial for companies to build consumer trust and expand their market presence. Some key players have expanded their market reach beyond domestic boundaries. Companies focus on penetrating international markets through strategic partnerships and collaborations, establishing a strong distribution network, and improving manufacturing processes and efficiency to reduce production costs and offer competitive pricing in the market. Building strong customer relationships, providing excellent service, and understanding customer needs to tailor products accordingly have been vital strategies for maintaining a competitive edge.
According to Statistics Canada, in 2021, the combined turnover of the nursery, greenhouse, field cut flower, and sod sectors rose by 7.5%, amounting to $4.7 billion. The largest proportion of total sales was generated in Ontario (55.2%), with Quebec (13.2%) and British Columbia (21.4%) following suit. In 2021, greenhouse sales increased by 8.3% year-over-year to reach $3.8 billion, whereas nursery product sales increased by 4.3% to $747.5 million. The primary driver of the increase in greenhouse product sales was the growth observed in greenhouse fruit and vegetables (+9.3%) and greenhouse florals and plants (+7.3). Hence, the demand for coconut shell powder is driven by the increasing gardening practices in the region.
The US market dominated the North America Coconut Shell Powder Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $123.1 Million by 2030. The Canada market is registering a CAGR of 9% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 8% during (2023 - 2030).
Free Valuable Insights: The Coconut Shell Powder Market is Predict to reach USD 509 Million by 2030, at a CAGR of 7.3%
Based on Mesh Size, the market is segmented into 80-100 Mesh, and 200-300 Mesh. Based on Application, the market is segmented into Extender & Filler, Activated Carbon, Insect Repellent, Absorbent, and Others. Based on Sales Channel, the market is segmented into Offline, and Online. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Mesh Size (Volume, Tonnes, USD Million, 2019-2030)
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Sales Channel (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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