The global bamboos market size is projected to reach USD 98.3 billion by 2025 and is expected to grow at a CAGR of 5.0% over the forecast period, according to a new report by Grand View Research, Inc. The market is projected to register swift growth on account of the growing infrastructural development and use of sustainable resources in the manufacture of furniture and industrial products across the globe.
Bamboo and rattan can be cultivated easily without a need for chemical pesticides and fertilizers. They grow rapidly and do not require replanting. Further, processing of bamboo and rattan for the manufacture of processed products such as flooring, pulp & paper, and furniture has a relatively low environmental impact. Furthermore, bamboo and rattan offer a renewable and low-carbon alternative over plastics and hardwood. Thus, the growing environmental awareness concerning carbon emission is expected to boost the demand for bamboos products over the forecast period.
Home-grown bamboo plants are believed to promote a flow of positive energy and thus, hold considerable importance in traditional Chinese communities. Economic benefits include the use of bamboo and rattan in building shelters, consumption for medicinal purposes, its use in cooking fuel, and handicrafts, among others. These environmental, social, and economical benefits offered by bamboo and rattan make them a sustainable resource for various applications, thereby spurring the demand for bamboo and rattan products in the market.
Several government initiatives in emerging economies such as China, India, and Ethiopia, to name a few, are expected to be instrumental in the improvement of the supply-demand scenario of the market. For instance, recently African countries including Ethiopia, Kenya, and Uganda collaborated with China with an aim to reduce poverty, drive economic growth, and protect forest landscapes through expansion of the bamboo and rattan industry. These initiatives are expected to positively influence the market growth over the forecast period.
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Further key findings from the study suggest:
The global bamboos market growth is attributed to the rising popularity of these products as a substitute for tropical timber. The popularity of these products is ascribed to its medicinal and physical properties offering numerous benefits to environment-conscious consumers.
A few notable trends such as government initiatives aimed at tackling the problem of erosion in forestland and increasing awareness for the use of environment-friendly resources are expected to drive the sales of bamboos products over the forecast period.
The demand for industrialized bamboo products segment is predicted to reflect considerable growth, registering the highest CAGR over the forecast period. This growth can be attributed to the growing demand for bamboos in diversified applications such as flooring, plywood, fuel, pulp, and paper, among others. Bamboos possess anti-bacterial properties and are therefore widely used for applications in home decor, kitchenware, and furniture design.
Asia Pacific accounted for nearly 60% of the global bamboos market share in 2018 and is anticipated to grow at the highest CAGR over the forecast period. This growth is ascribable to the increasing production and export volumes of bamboos to a few prominent developed countries including the U.S., Germany, and France, among others.
Key industry participants include Jiangxi Feiyu Industry Co. Ltd., Moso International B.V., Kerala State Bamboo Corporation Ltd., and Shanghai Tenbro Bamboo Textile Co. Ltd., among others. These companies primarily deal with processed bamboos and rattan products.
Grand View Research has segmented the global bamboos market based on application and region:
Application Outlook (Revenue, USD Billion, 2014 - 2025)
Regional Outlook (Revenue, USD Billion, 2014 - 2025)
Middle East & Africa
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