Bamboos Market Expected to Reach $99.8 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Bamboos Market," The Bamboos Market Size was valued at $65.8 billion in 2021, and is estimated to reach $99.8 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031.

Bamboos are very versatile forest products and are extensively used for producing various consumer and industrial products. In addition, the increased focus of governments in cultivating bamboos in their respective countries is expected to drive demand for bamboos across different industries.

Commonly observed species of bamboos are moso bamboos, bambusa vulgaris, and few others. Among these, the bambusa vulgaris segment accounted for the highest market share in 2020, owing to surge in demand from various end-user industries. The bamboos market is mainly driven by rise in construction activities and growth of paper and pulp industries. Bamboo-based furniture industries are also positively influencing the bamboos industry. However, increase in popularity of cheaper alternatives to bamboo-based products, such as plastic and metal products, constraints the growth of the market.

In 2020, Asia-Pacific dominated the global bamboos market, in terms of revenue, followed by LAMEA and North America. Moreover, the market in North America has grown with a significant CAGR, owing to growth in use of bamboos for gardening activities.

Furthermore, on the basis of application, the furniture segment is anticipated to grow rapidly, during the forecast period, owing to increased construction activities.

Key market players in the market are planting bamboos to meet the growing demand and increase boost their bamboos market share. For instance, in September 2020, the Kerala State Bamboo Corporation planted bamboo on a five acres of land in Malappuram, Kannur. Furthermore, Dasso Group, a bamboo-based construction components manufacturer, adopted the business expansion strategy to expand its business and meet the bamboo-based products demand in Zixi county of China.

However, during the COVID-19 pandemic lockdown, various manufacturers in the bamboos market had to stop their business in countries, such as China, the U.S., and India. This break directly impacted sales of bamboo-based products manufacturing companies. In addition, lack of manpower and raw materials constricted supply of bamboo and bamboo-based products; and has negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced, which is a positive indicator for bamboos market growth.

Key companies profiled in the bamboos market forecast report include Anji Tianzhen Bamboo Flooring Co. Ltd., BambooVision, Bamboo Australia Pty Ltd., Bamboo Village Company Limited, Dasso Group, EcoPlanet Bamboo, Kerala State Bamboo Corporation Limited, Moso International BV, Simply Bamboo Pty Ltd., and Smith & Fong Company.

KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging bamboos market trends and dynamics. 
• Depending on type, the warm weather bamboos dominated the bamboos market, in terms of revenue in 2020 and the same segment is projected to grow at a significant CAGR during the forecast period.
• By application, construction segment registered highest revenue in 2020.
• LAMEA is projected to register highest growth rate in the coming years.
• The key players within the bamboos market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the bamboo industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market. 
• In-depth bamboos market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.