The global bamboos industry is anticipated to attain a valuation of US$ 6,533.11 million in 2023 and is estimated to reach US$ 18,440 million by 2033, trailing a CAGR of 10.9% during the forecast period.
The sector is predicted to grow globally as a result of rising investments in infrastructure development and rising consumer awareness of long-lasting, environmentally friendly products.
Due of bamboo’s advantages for the environment and economy, governments everywhere have started to take action to encourage the plant’s usage and production. The National Bamboo Policy of Kenya and the National Bamboo Mission of India are two recent examples that aim to enhance the production of bamboo. Growing consumer knowledge of bamboo’s advantages has led to a notable increase in the materialization and acceptance of bamboo in the market.
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Bamboo is used for a variety of environmental purposes, including building structures and boats, because it is stronger and lighter than other types of wood. Moreover, bamboo is easily machined and molded for practical uses. Furthermore, it is anticipated that the growing inclination for bamboo will be fueled by the developed world’s growing need for environmentally friendly building, leading to notable expansion in the upcoming years.
Bamboo is a multifunctional and adaptable forest product that is essential to domestic and industrial economies worldwide. It is appropriate for a range of indoor and outdoor applications due to its availability and versatility. Bamboo is seen as a substitute for wood and industrial feedstock, benefiting both traditional cottage industries and modern production. Because bamboo has so many uses, it is anticipated that demand for it would rise significantly in the near future in all industries.
There is a growing need for housing due to the growing global population and urbanization. Bamboo is frequently utilized in the construction sector for a variety of products, such as flooring, equipment, and other materials. The bamboo market is developing as a result of this expanding trend in construction.
Key Takeaways
- The market in China is projected to grow with a promising CAGR of 11.4% during the forecast period.
- The demand for bamboos in United States is expected to grow with a significant CAGR of 10.2% during the forecast period.
- The market in China is expected to be worth USD 8540 million by end of the forecast period.
- By end-use industry, pulp & paper segment is expected to generate demand with a CAGR of 12.8% during the forecast period.
“Increasing use of bamboo as a substitute for timber and industrial feedstock is expected to drive market growth during the forecast period,” comments an FMI Analyst
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Competitive Landscape
The market for bamboos is highly competitive, with various prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players are Moso International BV, Shanghai Tenbro Bamboo Textile Co. Ltd, Tengda Bamboo-Wood Co. Ltd., China Bamboo Textile Company Ltd., Bamboo Bio Composites Sdn Bhd, Southern Bamboo Inc., Jiangxi Feiyu Industry Co. Ltd., Higuera Hardwoods LLC, Dasso Industrial Group Co. Ltd., Xingli Bamboo Products Company, Terragreen LLC, Anji Tianzhen Bamboo Flooring Co. Ltd., Kerala State Bamboo Corporation Ltd, Bamboo Australia Pty. Ltd., Ecoplanet Bamboo, Smith & Fong Co. Inc., Jiangxi Kangda Bamboo Ware Group Co. Ltd., Fujian Jianou Huayu Bamboo Industry Co. Ltd., Jiangxi Shanyou Industry Co. Ltd.
Some recent developments in the bamboos market are:
- In 2022, Libas Consumer Products Ltd revealed a rights issue and the launch of KNG, an organic innerwear brand made from bamboo.
- In 2021, Nestlé announced plans to plant 3.5 million natural bamboo bunches and trees in the Philippines as part of their forestry program. This initiative aligns with Nestlé’s goal of planting 200 million trees by 2030 and supports their strategy to promote regenerative agriculture, implement environmental alternatives to reduce carbon emissions, and work towards their net-zero target by 2050.
- In June 2021, UK flooring products company Victoria PLC acquired Cali Bamboo Holdings for $76.1 million. This acquisition enabled Victoria to expand its distribution in the US, develop new products, and maintain a strong focus on products, people, and relationships.
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Key Segmentation
By End Use Industry:
- Wood and Furniture
- Construction
- Food (bamboo shoots)
- Pulp & Paper
- Textile
- Agriculture
- Others (charcoal & handicrafts)
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About the Chemicals and Materials Division at Future Market Insights
The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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