2024 Market Analysis: Bamboo Furniture Trends and Projections

"The Business Research Company recently released a comprehensive report on the Global Bamboo Furniture Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The bamboo furniture market size has grown strongly in recent years. It will grow from $11.94 billion in 2023 to $12.75 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to rising demand for sustainable bamboo furniture, craftsmanship drives demand for bamboo furniture, commercial achievement for bamboo furniture, increasing demand for bamboo office furniture, and rising demand for alternative for eco-friendly furniture production.

The bamboo furniture market size is expected to see strong growth in the next few years. It will grow to $16.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to the growing demand for eco-friendly products, growing sustainability awareness, growing adoption of bamboo furniture, high demand for durable furniture, and rise in government initiatives. Major trends in the forecast period include a growing sustainability focus, minimalist and modern designs, outdoor furniture expansion, health and wellness integration, smart furniture incorporation, artisanal and handmade appeal, and compact and multi-functional furniture.

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Market Drivers and Trends:

The growing demand for eco-friendly products is expected to propel the growth of the bamboo furniture market going forward. Eco-friendly products, also known as environmentally friendly or green products, are items designed to have minimal environmental impact. These eco-friendly products are made from sustainable materials, use energy-efficient processes, and often promote recycling and reuse. Government regulations and policies promoting sustainability and reducing carbon emissions encourage companies and consumers to make greener choices. The eco-friendly manufacturing of bamboo furniture leverages bamboo's rapid growth and minimal environmental impact, appealing to eco-conscious consumers. For instance, in April 2022, according to a report published by Trivium Packaging, a US-based company that produces sustainable metal packaging, 86% of consumers were willing to pay more for sustainable packaging, up from 83% in 2021. Therefore, the growing demand for eco-friendly manufacturing processes drives growth in the bamboo furniture market.

Major companies operating in the bamboo furniture market are focused on developing sustainable storage options to meet growing consumer demand for eco-friendly products while reducing environmental impact and promoting the use of renewable resources. Sustainable storage solutions are furniture designed to be kind to the environment by employing seco-friendly materials and practices that lessen ecological footprints. For instance, in March 2024, MUJI Australia, an Australia-based provider of household goods, apparel, stationery, and food items, introduced a bamboo storage range. The bamboo storage collection features everything from desktop storage and towel racks to corner shelving, all crafted from lightweight bamboo. These pieces are not only simple to assemble and disassemble, making them ideal for frequent movers, but they also blend effortlessly into any décor, adding a touch of warmth to your space. The bamboo storage range provides versatile solutions for every room in your home.

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Major Key Players of the Market:

Inter IKEA Systems B.V., Zinus, Dasso Group, Utsav Handicraft, VivaTerra, Bamboo Village Company Limited, Bamboo Revolution, Greenington Bamboo Furniture, Bamboo Creasian Inc., Laura James, Rose and Grey, Hadeda Limited, Ha Thai Bamboo Lacquer Co. Ltd., CBG Bamboo Garden Products Co. Ltd., Kerala State Bamboo Corporation Ltd., Bamboopecker, Moso bamboo, Luit Nirman, Keico Limited Company, ZAANCREATION, Fuzen Decor Bali

Bamboo Furniture Market 2024 Key Insights:

• The bamboo furniture market size is expected to see strong growth in the next few years. It will grow to $16.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Rising Demand For Eco-Friendly Practices Fuels The Bamboo Furniture Market Growth
• Advancing Sustainable Furniture Solutions With Eco-Friendly Bamboo Designs
• Asia-Pacific was the largest region in the bamboo furniture market in 2023

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This release was published on openPR.