Coconut shell powder is made from the most organic and versatile part of the coconut - the shell. In general, coconut shell is known for its high toughness, excellent durability, increased abrasion resistance, and longer life. The shell's chemical composition is similar to that of hard wood, with the exception of higher lignin and lower cellulose content.The coconut shell powder market was valued at $286.70 million in 2021, and is estimated to reach $588.4 million by 2031, growing at a CAGR of 7.6% from 2022 to 2031.
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The players operating in the coconut shell powder industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, remain competitive in the market, and gain coconut shell powder market opportunities. The key players profiled in coconut shell powder industry include New Century Vietnam Organic Company Ltd., OHM Trishul Bio Process, Rich Moon Co., Ltd, Vijayanagar Food & Nutraceuticals Pvt. Ltd., VietDelta Ltd., Coco Green (Pvt) Ltd., Coco Land Lanka (Pvt) Ltd., Consarc (Pvt) Ltd., Gournish Traders, Umang Pharmatech Pvt. Ltd., and Bali Coco.
Key findings of the study
The coconut shell powder market size was valued at $286.7 million in 2021, and is estimated to reach $588.4 million by 2031, growing at a CAGR of 7.6% during the forecast period.
In 2021, depending on application, the activated carbon segment was valued at $66.6 million, accounting for 23.2% of the global coconut shell powder market share.
In 2021, depending on sales channel, the offline segment was valued at $209.0 million and is expected to grow at a CAGR of 7.4%.
In 2021, the U.S. was the most prominent market in North America, and is projected to reach $80.3 million by 2031, growing at a CAGR of 6.3% during the forecast period
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