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Type: PDF
Status: Syndicate
Categories: Biotechnology
Report Code : BT23
No. of Pages : 150
Coconut oil is produced by extricating oil from dried coconut flesh which is known as copra. When the oil is excreted mechanically the residue is called copra cake and if this is then solvent extracted to increase the yield of oil, the product is known as copra meal. It can offer significant protein and energy in swine diets and may be used to minimize feed costs.
The global copra cake market in 2023 was approximately USD 11.2 billion. The market is expected to grow at a CAGR of 3.7 % and is anticipated to reach around USD 14.2 billion by 2030. There is an escalating demand for animal sourced products across the world such as meat, eggs and milk as when compared to plant-based foods, such as cereals. The demand for these animal products needs substitute meals such as copra meal in order to fuel its production, thereby, enhancing the copra meal growth in animal feed market and fueling the market growth.
Furthermore, as to satisfy the demand for the meat processing industry, livestock farmers require to produce superior-quality and hygienic meat, which is a big challenge. Hence, the copra meal is adopted in producing meat as less time which has created an opportunity for copra meal to spur the market. On the other hand, due to the high cost the consumers are adopting alternatives for the product which is restraining the market.
The market for copra cake is intensely competitive and is highly fragmented. The vendors in the copra cake market compete based on product portfolio, product differentiation, applications, and the pricing of products. The rise in technological innovations in designing the products for better quality, ease of use and better performance is expected to continue to intensify the level of competition among the companies to expand their product portfolios by incorporating innovative features, into their product.
Companu analysed in the copra cake market are DuPont, Ishihara Sangyo Kaisha, Chr Hansen, Valent Biosciences, American Vanguard, Makhteshim Agan, Bayer CropScience, Isagro, Chemtura, Arysta LifeScience, BioWorks, Syngenta, Nufarm, Marrone Bio Innovations, Sumitomo Chemical, Cheminova, Monsanto, Natural Industries, Novozymes, FMC, Dow AgroSciences, BASF and Others.
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