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Bamboo Market Size, Top Key Players, Growth, Trend Analysis And Forecast To 2033
Bamboo Market Size
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According to The Business Research Company's, The bamboo market size has grown strongly in recent years. It will grow from $70.59 billion in 2023 to $75.12 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to increased environmental awareness, versatility in applications, cultural significance, government support, infrastructure development.
The bamboo market size is expected to see strong growth in the next few years. It will grow to $97.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to climate change mitigation, circular economy initiatives, economic growth, rising material costs, regulatory shifts, global health concerns. Major trends in the forecast period include bamboo flooring, bamboo textiles, bamboo charcoal products, bamboo in packaging, bamboo in the energy sector, bamboo farming practices.
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Market Drivers and Trends:
The increase in demand for paper is expected to propel the growth of the bamboo market going forward. Paper is a flat, thin sheet material that is made from cellulose fibers derived from wood, rags, and other raw materials and is suitable for writing on, wrapping, and decorating walls. Pulp obtained from bamboo is used for manufacturing paper. Paper is used to produce books, printing, packaging, and decorating. For instance, according to the news published by Business Line, an India-based newspaper, in May 2022, paper consumption in India is projected to grow by 6-7% and is expected to reach up to 30 million tons by 2026-2027. Therefore, the increasing demand for paper is driving the growth of the growth of the bamboo market.
Rising government initiatives for bamboo production have emerged as the key trend gaining popularity in the bamboo market. Governments across various countries are promoting bamboo production through initiatives and investments to meet the growing demand and to increase exports. For instance, the International Bamboo and Rattan Organization (INBAR), a China-based independent intergovernmental organization, has developed the 2015-2030 INBAR Strategy to develop the bamboo sector to address various issues, including climate change mitigation, livelihood, and land degradation, and to focus on the use of bamboo as a strategic resource.
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Major Key Players of the Market:
Southern Bamboo Inc., Smith & Fong Co. Inc., Jiangxi Feiyu Industry Co. Ltd., Anji Tianzhen Bamboo Flooring Co. Ltd., Jiangxi Kangda Bamboo Ware Group Co. Ltd., Dasso Industrial Group Co. Ltd., TIC Gums Inc., CFF GmbH & Co. KG, Moso International BV, Liahren, Swicofil AG, Ecoplanet Bamboo, Wild Fibres, Kerala State Bamboo Corporation Ltd, EPITOME Bamboowood, Advantage Fibres, International Fiber Corporation, Teragren, Bambooworld, Bamboo Village Company Limited, Tengda Bamboo-Wood Co. Ltd., Xingli Bamboo Products Company, Chengdu Grace Fiber Co. Ltd, Higuera Hardwoods LLC, Fujian Jianou Huayu Bamboo Industry Co. Ltd., Jiangxi Shanyou Industry Co. Ltd., Bamboo Bio Composites Sdn Bhd, EcoLife Bamboo, Shanghai Tenbro Bamboo Textile Co. Ltd, Bamboo Australia Pty. Ltd.
Bamboo Market 2024 Key Insights:
• The bamboo market size is expected to see strong growth in the next few years. It will grow to $97.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Bamboo Market Blossoms Catering To Surging Paper Demand With Sustainable Solutions
• Government Initiatives Propel Bamboo Market Expansion For Sustainable Development
• Asia-Pacific was the largest region in the bamboos market in 2023
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