Copra Meal Market - Forecasts from 2023 to 2028

The global copra meal market was valued at US$417.721 million in 2021.

Copra meal is a low-fiber, 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 favorable 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 rising. United Nations has predicted that the world population will reach 9 billion by 2050, raising the demand for food by 60 percent. The feed industry must satisfy future demand sustainably and safely while 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 rising demand for aquaculture products is also driving the market for copra meals.

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.

Favorable government initiatives are supporting the global copra meal market growth.

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, Papua New Guinea 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 containing essential amino acids required for animal growth. Additionally, copra meal is a good source of dietary fiber, which aids in digestion and promotes gut health in animals. These nutritional advantages contribute to the demand for copra meals in animal diets.

Asia Pacific is anticipated to hold a significant share of the global copra meal market.

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.

Market Developments:

• In November 2022, the commercialization of the protein-enriched copra meal initiative (PECM) was 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 had 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, Davao de Oro's provincial government announced building village-style coconut oil processing facilities throughout the province, which will be run by local farmer cooperatives.

Market Segmentation:

BY TYPE

• Organic Copra Meal
• Synthetic Copra Meal

BY END-USER

• Horses
• Cattle
• Others

By Distribution Channel

• Offline
• Online

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others