The bamboo market size has grown strongly in recent years. It will grow from $70.59 billion in 2023 to $75.12 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. Historical growth can be credited to heightened environmental consciousness, versatile applications, cultural importance, government backing, and infrastructure advancements.
The bamboo market size is expected to see strong growth in the next few years. It will grow to $97.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. Anticipated growth in the forecast period is driven by efforts in climate change mitigation, initiatives promoting a circular economy, overall economic expansion, increasing material expenses, evolving regulations, and mounting global health concerns. Key trends expected during this period involve the utilization of bamboo in various sectors such as flooring, textiles, charcoal products, packaging, energy production, and innovative farming practices.
The surge in paper demand is anticipated to drive the expansion of the bamboo market in the future. Paper, a thin, flat sheet material crafted from cellulose fibers sourced from wood, rags, and various raw materials, finds application in writing, wrapping, and wall decoration. Bamboo pulp is utilized in paper manufacturing, supporting the production of books, printing materials, packaging, and decorative items. As reported by Business Line, an India-based newspaper in May 2022, the paper consumption in India is forecasted to grow at a rate of 6-7%, reaching approximately 30 million tons by 2026–2027. Consequently, the escalating need for paper is fueling the growth of the bamboo market.
The rising demand in the construction industry is poised to drive the growth of the bamboo market in the foreseeable future. The construction industry encompasses the comprehensive process of planning, designing, assembling, and constructing physical structures, facilities, or infrastructure. Bamboo finds application in the construction sector as a flooring material, offering a durable and aesthetically pleasing alternative to traditional hardwood flooring. Additionally, it is utilized for wall coverings, enhancing interiors with a natural and appealing look. As indicated by Oxford Economics, a UK-based economic information services company, in September 2021, the global construction output is projected to witness a substantial increase of 42%, equivalent to $4.5 trillion, reaching a total of USD 15.2 trillion by 2030. Consequently, the heightened demand in the construction industry is a key driver propelling the growth of the bamboo market.
The prevalent trend gaining traction in the bamboo market is the increase in government initiatives for bamboo production. Governments worldwide are actively promoting bamboo production by implementing initiatives and making strategic investments to cater to the rising demand and boost export activities. An exemplary illustration of this trend is evident in the efforts of the International Bamboo and Rattan Organization (INBAR), a China-based independent intergovernmental organization. INBAR has devised the 2015–2030 INBAR Strategy, aiming to advance the bamboo sector and address various challenges, including climate change mitigation, livelihood improvement, and combating land degradation. This strategic approach underscores the emphasis on positioning bamboo as a vital and strategic resource.
Prominent companies in the bamboo market are strategically focusing on the introduction of advanced solutions, with a notable emphasis on bamboo fibers. Extracted or manufactured from natural bamboo, these fibers are categorized as regenerated fibers, renowned for their softness, breathability, and environmentally friendly characteristics. A case in point is Siyaram Silk Mills Ltd., an India-based company specializing in fabric manufacturing and sales, which unveiled bamboo fabrics in November 2021. These bamboo fabrics, available in various forms including fleece, velour, terry, towel, and jersey, find applications across diverse sectors such as clothing, home decor, furniture, and flooring. The environmental advantages of bamboo fabrics, including renewability, biodegradability, and rapid growth, position them as an appealing alternative to traditional textiles produced from non-renewable resources such as cotton.
In June 2021, Victoria PLC, a UK-based flooring products company, completed the acquisition of Cali Bamboo Holdings for $76.1 million. This strategic move by Victoria is geared towards expanding its distribution network in the United States, fostering the development of new products, and maintaining a focus on enhancing its offerings, personnel, and relationships. Cali Bamboo Holdings, based in the US, specializes in the manufacturing of bamboo building products.
Major companies operating in the bamboo market report are Southern Bamboo Inc., Smith & Fong Co. Inc., Jiangxi Feiyu Industry Co. Ltd., Anji Tianzhen Bamboo Flooring Co. Ltd., Jiangxi Kangda Bamboo Ware Group Co. Ltd., Dasso Industrial Group Co. Ltd., TIC Gums Inc., CFF GmbH & Co. KG, Moso International BV, Liahren, Swicofil AG, Ecoplanet Bamboo, Wild Fibres, Kerala State Bamboo Corporation Ltd., EPITOME bamboowood, Advantage Fibres, International Fiber Corporation, Teragren, Bambooworld, Bamboo Village Company Limited, Tengda Bamboo-Wood Co. Ltd., Xingli Bamboo Products Company, Chengdu Grace Fiber Co. Ltd., Higuera Hardwoods LLC, Fujian Jianou Huayu Bamboo Industry Co. Ltd., Jiangxi Shanyou Industry Co. Ltd., Bamboo Bio Composites Sdn Bhd, EcoLife Bamboo, Shanghai Tenbro Bamboo Textile Co. Ltd., Bamboo Australia Pty. Ltd.
Asia-Pacific was the largest region in the bamboos market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bamboo market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bamboo market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary categories within the bamboo market encompass herbaceous bamboos, tropical woody bamboos, and temperate woody bamboos. Herbaceous bamboos, characterized by soft and tender stems, hold significance for medicinal purposes and contribute to the preservation of forest biodiversity. These bamboos thrive predominantly in tropical jungle environments and include species such as moso bamboo, bambusa vulgaris, among others. Various applications for herbaceous bamboo span across multiple sectors including raw materials, industrial products, furniture manufacturing, shoots for culinary use, and other diverse uses. These applications find relevance across industries such as wood and furniture, construction, food production, pulp and paper manufacturing, textiles, agriculture, and other end-user sectors.
The bamboo market research report is one of a series of new reports that provides bamboo market statistics, including bamboos industry global market size, regional shares, competitors with a bamboo market share, detailed bamboo market segments, market trends and opportunities, and any further data you may need to thrive in the bamboos industry. This bamboo market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bamboo market consists of sales of hedge bamboo, dwarf green stripe bamboo, green-glaucous bamboo, and painted bamboo. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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