Copra Meal Market Size, Share, Opportunities, And Trends By Distribution Channel (Offline, Online), And By Geography - Forecasts From 2023 To 2028
- Published : May 2023
- Report Code : KSI061615394
- Pages : 147
Copra meal is a low-fibre, high-protein feed ingredient used in animal fodder. It is made from the dried kernel of the coconut, which is first pressed to extract the oil and the remaining meal is then ground into a powder. Copra meal is a good source of protein, amino acids, and minerals for horses, fish, and cattle. It is also a common option for livestock producers because it is a reasonably priced feed component. Copra meal is primarily produced in countries with large coconut cultivation, such as the Philippines, Indonesia, India, and Sri Lanka. These nations possess favourable climatic conditions for coconut growth and have established processing facilities to extract coconut oil.
The rising need for animal protein is one of the main factors propelling the growth of the copra meal market. As the population increases, so does the need for meat and other animal products. As a result, the demand for cheap protein-rich feed such as copra meal is on the rise. United Nations has predicted that the world population will reach 9 billion by 2050, raising the demand for food by 60 percent. It is critical that the feed industry, be able to satisfy future demand sustainably and safely, while also retaining consumer trust and confidence in the food supply chain. Therefore, the flourishing animal feed industry is also driving the growth of the copra meal market. The market for copra meals is also being driven by the rising demand for aquaculture products.
However, volatile prices of coconut due to weather conditions and political instability along with stiff competition from other protein-rich feed products such as sunflower meal, soybean meal, and fish meal is restraining the growth of the global copra meal market during the projection period.
During the anticipation period, favourable government initiatives will support the growth of the global copra meal market.
Governments in some countries are promoting the use of copra meal in animal feed to reduce the reliance on imported feed ingredients and to promote the use of sustainable feed ingredients. For instance, in January 2023, the Papua New Guinea minister of agriculture adopted a new price incentive for copra meal products. However, in December 2022, the Indian government raised the minimum support price for milling copra and ball copra by USD 3. and USD 9.05 respectively. This price scheme will raise the production of coconut in India from the previous year.
Another factor driving the growth of the copra meal market is the rising awareness regarding nutritional benefits. Copra meal possesses several nutritional benefits that make it an appealing feed ingredient. It is a protein-rich food that also contains essential amino acids required for animal growth. Additionally, copra meal is a good source of dietary fibre, which aids in digestion and promotes gut health in animals. These nutritional advantages contribute to the demand for copra meals in animal diets.
During the forecast period, Asia Pacific is anticipated to hold a significant share of the global copra meal market.
The Asia Pacific region will experience rapid expansion throughout the projection period due to the growing demand for cheap protein-rich animal feed. Countries like India and China have a massive share in the commercial animal feed industry. According to the International Feed Industry Federation, the total industrial feed output in China was 252.7 million tons in 2020, representing a 10.4 percent increase from the previous year. The total output for pig, ruminant, and poultry feed increased by 16.4 percent, 18.9 percent and 7.5 percent respectively in 2020. Copra meal is primarily produced in countries with large coconut cultivation, such as the Philippines, Indonesia, India, and Sri Lanka. Moreover, the presence of a well-established agriculture industry and increasing investment are also spurring regional demand for copra meals. In addition, the prevalence of key market players such as Cargill Inc., Colorado Mills, Bunge, Glencore Agriculture, Kernel and others also spur the growth of copra meals in this region.
Market Key Developments
- In November 2022, the commercialization of the protein-enriched copra meal initiative (PECM) has been given the go-ahead by the Department of Budget and Management in the Philippines to mitigate the effects of rising feed raw material prices, which will benefit consumers. Budget Secretary said in a statement that the government has authorized the disbursement of PHP69.699 million to help the Commercialization Project for Protein-Enriched Copra Meal (PECM) under the Department of Agriculture's National Livestock Programme.
- In February 2023, the provincial government of Davao de Oro intends to build village-style coconut oil processing facilities throughout the province, which will be run by local farmer cooperatives. The department director of the Provincial Veterinary Office said that there are tiny fabricators who can create oil extraction equipment for small- to medium-scale production.
- By Distribution Channel
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. COPRA MEAL MARKET ANALYSIS, BY DISTRIBUTION CHANNEL
6. COPRA MEAL MARKET ANALYSIS, BY GEOGRAPHY
6.2. North America
6.2.1. United States
6.3. South America
6.4.1. United Kingdom
6.5. The Middle East and Africa
6.5.1. Saudi Arabia
6.6. Asia Pacific
6.6.4. South Korea
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. COMPANY PROFILES
8.1. CIIF OMG
8.3. Greenville Agro Corp.
8.6. Tantuco Enterprises, Inc.
8.7. Prima Industries Ltd.
8.8. Primex Group
8.9. PT. Golden Union Oil
TANTUCO ENTERPRISES, INC.
PRIMA INDUSTRIES LTD.
PT. Golden Union Oil
|Report Name||Published Month||Get Sample PDF|
|Animal Protein Ingredients Market Size & Share: Report, 2021-2026||Aug 2021|
|Global Ready Meals Market Size: Industry Report, 2022-2027||Sep 2022|
|Cornmeal Market Size, Share & Trends: Industry Report, 2022-2027||Aug 2022|
|Insect Animal Feed Market Size & Share: Report, 2023–2028||Feb 2023|
|Sunflower Meal Market Size & Share: Industry Report, 2023 - 2028||May 2023|