The bamboos market is expected to reach at US$ 41.63 billion by 2028 at a CAGR of 9.1% between 2022 and 2028, according to a new research study conducted by The Insight Partners.
Development of Infrastructure and Growth of the Construction Industry Boosting Bamboos Market
Bamboo Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By End-Use Industry (Furniture, Construction, Pulp & Paper, Landscaping, and Others), and Geography
Bamboo Market Size Report Analysis & Growth 2030
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Source: The Insight Partners Analysis
Bamboo is a plant known for its versatile industrial uses in construction, building materials, textile, fodder, fuel, furniture, timber, food and pharmaceutical applications, and eco-friendly consumer goods. The different parts of bamboo, such as bamboo shoots, leaves, roots, bark, and rhizome, possess therapeutic and nutritional value. Bamboo is considered a substitute for wood in many industrial applications while contributing to the restoration of forests worldwide. Bamboo charcoal is utilized as a substitute for wood charcoal. Moreover, it is used for substituting or replacing traditional materials, including wood for furniture, hardwood for flooring and decking, and plastic in everyday items such as toothbrushes. Moreover, cotton and synthetic fabrics are being replaced with bamboo fibers. The cost incurred for cultivating bamboo and the time required to grow it to its full potential are less than other types of wood.
Based on end-use industry, the bamboos market is segmented into wood & furniture, construction, bamboo shoots, pulp & paper, textile, agriculture, and others. A bamboo plant is broadly used for conventional applications such as toothpicks, chopsticks, crafted baskets, mats, soil erosion control, and eco-friendly cutlery. Various technologies are used to extract fibers from bamboo culms for the production of textiles and paper and pulp.
Bamboo and bamboo-based products such as timber, panels, and boards are extensively used in the construction industry. Tensile strength and compressive strength of bamboo render it suitable for construction and building applications. Moreover, innovations in the utilization of bamboo as a building material resulted in the development of engineered bamboo products, such as laminated bamboo and bamboo scrimber char. Laminated bamboos can be utilized for building applications such as decking, flooring, cladding, partitions, doors, and window frames. Thus, bamboo products are also utilized in eco-friendly external and internal building applications.
The demand for bamboo flooring has risen in Europe, Japan, and North America. Furthermore, the rising demand for wood substitutes for the construction of various small-scale and durable projects is anticipated to drive the bamboo market. The National Forestry and Grassland Administration (NFGA) declared the presence of more than 6.67 million hectares of bamboo forests in 2021, in China. This generates annual output value of about US$ 49.6 billion. Moreover, the document published by NFGA, reported that the country planned to boost the bamboo industry. It also revealed that the total output value of Chinese bamboo industry is projected to exceed US$ 110 billion by 2025.
The key players operating in the global bamboos market include MOSO International B.V.; Bamboo Australia; Dasso Group; EcoPlanet Bamboo Group; Bamboo Village Company Limited; Smith & Fong Co Inc.; Kerala State Bamboo Corporation; Epitome Bamboowood Products; Hangzhou Zen Bamboo&Hardwood Products Co., Ltd.; and Fujian HeQiChang Bamboo Product Co., Ltd. Players operating in the bamboos market are focusing on providing high-quality products to fulfill customer demand. Several other major companies were studied and analyzed during this research study to get a holistic view of the bamboos market and its ecosystem.
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