Bamboos Market Poised to Reach US$ 184,40 million by 2033: Sustainable and Versatile Applications Drive Growth

Bamboos, a versatile group of grasses, are celebrated for their rapid growth and remarkable strength. With uses ranging from construction and furniture-making to textiles and paper production, they offer sustainable alternatives to traditional resources. Their adaptability to various climates and their eco-friendly attributes make bamboos valuable contributors to sustainable industries and efforts to mitigate environmental challenges.

The global bamboos market size 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 global industry is projected to grow due to increased investments in infrastructure development and rising consumer awareness of sustainable, durable, and eco-friendly products.

Governments worldwide have implemented initiatives to promote the cultivation and utilization of bamboo due to its economic and ecological advantages. Recent examples include the National Bamboo Policy in Kenya and the National Bamboo Mission in India, aimed at boosting bamboo production. This increased awareness of bamboo's benefits has led to a significant rise in its market penetration and adoption.

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The utilization of bamboo in various environmental applications, such as constructing watercraft and structures, is driven by its lightweight and superior strength compared to other woods. Bamboo is also easily shaped and machined for practical purposes. Moreover, the increasing demand for green construction in developed nations is expected to fuel the growing preference for bamboo, resulting in significant growth in the coming years.

Bamboo, a versatile and multipurpose forest product, plays a crucial role in global home and industrial economies. Its availability and adaptability make it suitable for various indoor and outdoor applications. Bamboo is considered an alternative to timber and industry feedstock, serving both advanced production and traditional cottage industries. With its wide range of applications, the demand for bamboo is expected to experience significant growth across all sectors in the foreseeable future.

The global population and urbanization are on the rise, leading to increased housing construction. Bamboo is widely used in the construction industry for various purposes, including equipment, flooring, and other materials. This growing construction trend is driving the expansion of the bamboo market.

Key Takeaways in Bamboos Market Report:

- 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

Competitive Landscape in Bamboos Market

The market for bamboos is highly competitive, with various prominent industry players making substantial investments in increasing their manufacturing capabilities.

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The Top 19 Key Players in Market

- Moso International BV
- Shanghai Tenbro Bamboo Textile 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.
- Tengda Bamboo-Wood Co. Ltd.
- Higuera Hardwoods LLC
- Dasso Industrial Group Co. Ltd.
- Xingli Bamboo Products Company
- China Bamboo Textile Company Ltd.
- Bamboo Bio Composites Sdn Bhd
- Southern Bamboo Inc.
- Jiangxi Feiyu Industry Co. Ltd.
- Terragreen LLC
- Anji Tianzhen Bamboo Flooring 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 its 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.

Key Segments Profiled in the Bamboos Market Industry Survey

By End Use Industry:

- Wood and Furniture
- Timber Substitute
- Plywood
- Mat Boards
- Flooring
- Furniture
- Outdoor Decking
- Construction
- Scaffolding
- Housing
- Roads
- Food (bamboo shoots)
- Pulp & Paper
- Textile
- Agriculture
- Others (charcoal & handicrafts)

By Region:

- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global bamboos market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the bamboos market, the market is segmented on the basis of end-use industry and region.

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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.