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The copra meal market size is projected to increase by USD 6,472.3 at a CAGR of 3.96% between 2023 and 2028.
The report includes a comprehensive outlook on the Copra Meal Market, offering forecasts for the industry segmented by Distribution Channel, which comprises offline and online. Additionally, it categorizes End-user into poultry, swine, ruminant, and others, and covers Regions, including APAC, North America, Europe, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
Increasing awareness of the nutritious benefits of aquaculture products is the key factor driving market growth. Since the nutritional value of copra meal and fish meal are nearly equal, it is a substitute protein source in fish feed. The fermentation process employing the microbe Rhizopus sp., which generates cellulase enzymes, is necessary to lower the relatively high crude fiber content of copra meal. Furthermore, it enhances the quality of copra meal by using Rhizopus sp. fermentation. This diet has been chosen by the fungus to replace feed with sources of animal protein, specifically fish meal. As the demand for organic feed increases around the globe, the global copra meal market will witness a high growth during the forecast period.
The Copra Meal Market shows an accelerated CAGR during the forecast period.
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The emergence of private-label brands is the primary trend shaping market growth. Private label brands have become more prevalent in the global copra meal market, which is indicative of a discernible change in customer preferences and market dynamics. In the copra meal industry, private label brands, which are developed and controlled by retailers instead of traditional manufacturers, have become more popular for several reasons.
Furthermore, the rise of private label brands in the copra meal market highlights a dynamic shift in the industry environment, threatening established brand supremacy and redefining market strategies as customers continue to emphasize value and quality. The consumer will receive the best deal based on market demand as more unorganized merchants enter the global copra meal market. These factors will propel the growth of the unorganized sector of the global copra meal market during the forecast period.
Growing demand for feed enzymes is a challenge that affects market growth. Feed enzymes are the fermented byproducts of bacteria and fungi, and they only appear to benefit the animal by aiding in the breakdown of feed ingredients that the animal may have trouble digesting, such as phytates, proteins, and glucans. The majority of current research is aimed at enhancing the in-feed enzymes that are already in place and expanding the feed ingredient repertoire that can be employed to facilitate digestion. The Scientific Committee for Animal Nutrition has assessed and decided upon acceptable usage guidelines for in-feed enzymes that meet the needs of farmers, consumers, and animals.
Moreover, feed enzymes are becoming more and more important because they increase feed quality and pace of biochemical processes, aid in better feed conversion by livestock, and promote animal welfare. These enzymes are added to increase the production efficiency of stock feed intended for pigs, poultry, cattle, and fish. All such factors will negatively affect the growth of the global copra meal market during the forecast period.
The global copra meal market is expected to register significant growth during the forecast period due to the global rise in poultry consumption. Influencing factors such as changing lifestyles, the rise in disposable income, and the increasing population are expected to have a positive impact on the global copra meal market. Furthermore, the important markets for poultry meat are key emerging countries, such as China, Brazil, and India, that have a high population. In addition, poultry comes under the white meat category, which is considered healthier for consumption compared with red meat. Thus, the poultry segment contributes toward the growth of the global copra meal market during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. Convenience and grocery stores are significant channels of distribution for copra meals. Rising urbanization and changing lifestyles have resulted in the prevalence of convenience and grocery stores worldwide. A significant portion of the urban population, being pressed for time, prefers the convenience and grocery store format. The growth of organized retail in developed as well as developing economies has rendered supermarkets and hypermarkets the most popular distribution channel for groceries such as copra meal and related products.
The segment (Name ) was valued at USD 1,960.63 in 2018 and continued to grow until 2022.
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Furthermore, factors such as discounts and attractive shelf displays contribute to unique shopping experiences for consumers and encourage them to purchase copra meal in higher quantities from agricultural shops, supermarkets, and hypermarkets. Moreover, many consumers prefer specialty retailers while buying feed products, including copra meal. These factors will contribute to moderate growth in the offline segment of the global copra meal market during the forecast period.
APAC is estimated to contribute 50% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC was the largest market for copra meal in 2023. The Philippines is the APAC region's top supplier of copra meal. The Philippines is the world's largest exporter of copra meal, or coconut meal, with the majority of its exports going to South Korea, Japan, and Vietnam. Countries such as India, China, and Japan were the major contributors of revenue to the copra meal market in the region in 2023. This is due to the increasing cattle population and growing meat production. The increasing demand for protein-rich food products, including copra meal, is driving the growth of the meat industry in APAC. Increasing meat production will increase the demand for copra meal products during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The copra meal market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The copra meal market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
Copra Meal Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.96% |
Market growth 2024-2028 |
USD 6,472.3 |
Market structure |
USD Fragmented |
YoY growth 2023-2024(%) |
3.48 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 50% |
Key countries |
US, The Philippines, India, Indonesia, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agro Raya Co., BIOTECH UPLB, CIIF OMG, Cocoguru Coconut Industries Pvt. Ltd., Davao Bay Coconut Oil Mills Inc. and Third Millennium Oil Mills Inc., Dr Greenthumbs, KERAFED, NaMazco Trades and Exports PVT LTD, PRIMA INDUSTRIES LTD., PT Agriutama Mandiri Indonesia Jaya, PT Anugerah Wajah Pria, PT. Golden Union Oil, PT. INTINUSA NIAGA ABADI, RICH MOON CO. LTD., Riverina, Royal Flour Mills Pvt. Ltd, Samar Coco Products Manufacturing Corp., Tantuco Enterprises Inc., Vaighai Agro, Kripadhara, Southern Corp., and Sri Sellandiamman Oil Mill |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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