The global bamboos market size is expected to reach USD 88.43 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 4.5% from 2022 to 2030. This growth can be attributed to rising awareness of the use of sustainable and eco-friendly products, increasing investments in infrastructure development, and the use of sustainable construction materials.
An increasing number of consumers prefer eco-friendly natural products, which has led to an increase in the demand for bamboo used for manufacturing sustainable products. Personal hygiene products such as masks are manufactured using bamboo fiber as it possesses anti-fungal and anti-bacterial properties. It can be very helpful, especially in times like COVID-19, where personal hygiene is the most important factor. Therefore, this factor has surged the demand for bamboo, leading to the market’s growth.
Bamboo is one of the most effective plants for reducing global warming and fighting climate change. Bamboo plants absorb carbon dioxide from the air and release more oxygen back into the environment. This helps in tackling carbon emissions and provides a solid means to fight global warming. As bamboo can substitute other plants for industrial purposes, it helps in reducing the rate of deforestation and helps in the conservation of forests due to its fast growth rate.
Prominent industry players are pursuing the acquisition of local manufacturers to enter new international markets. This will create a stronger presence for these companies in other markets. With the rising popularity of bamboo due to its environmental benefits, durability, and sustainability, manufacturers are trying to broaden their product lines to gain a competitive advantage and increase their market share.
In both domestic and foreign markets, bamboo products are distributed through offline and online channels. Market participants sell products directly to customers through their websites with the assistance of their distribution networks, whereas other companies have regional offices to provide their customers with customized products, and small-scale manufacturers typically distribute their products via third-party e-commerce portals.
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Industrial application accounted for about USD 23.61 billion in 2021 and is expected to expand at a CAGR of over 5.0% during the forecast period. This is due to the rising usage of bamboo products in commercial and residential sectors for different applications. Additionally, technological advancements in standardizing and processing bamboo products have fueled their application in developing pulp and paper, composite boards, and flooring products
Asia Pacific is expected to remain the largest regional segment, witnessing the fastest CAGR during the forecast period due to the rising consumer awareness regarding the use of sustainable products, growing investment in infrastructure development, and increasing use of sustainable construction resources. In Asia, China dominates the global industry, followed by India, Japan, Indonesia, and Vietnam
The bamboo industry consists of several global and domestic players providing a diversified range of bamboo products, thus leading to high competition in the industry. Strategies followed by key players include mergers & acquisitions and backward integration to gain a competitive edge in the market
The demand was hampered by the COVID-19 pandemic in 2020. Due to the shutdown of treating and manufacturing plants worldwide, many harvested bamboo stockpiles were affected by microbes and parasites and thus, ruined. Small farmers have suffered a huge blow as they lost the harvest for the entire upcoming year. Due to a shortage of raw materials, the prices of products along the entire value chain turned highly volatile
Grand View Research has segmented the global bamboos market based on application and region:
Bamboos Application Outlook (Revenue, USD Million, 2017 - 2030)
Bamboos Regional Outlook (Revenue, USD Million, 2017 - 2030)
Central & South America
Middle East & Africa
List of Key Players in the Bamboos Market
MOSO International B.V.
Bamboo Village Company Limited
Shanghai Tenbro Bamboo Textile Co., Ltd
Simply Bamboo PTY LTD
Xiamen HBD Industry & Trade Co., Ltd
Smith & Fong
ANJI TIANZHEN BAMBOO FLOORING CO. LTD
Fujian HeQiChang Bamboo Product Co., Ltd.
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