The bamboos market is expected to grow from US$ 24.64 billion in 2022 to more than US$ 41.63 billion by 2028 at a CAGR of 9.1% between 2022 and 2028.
Bamboo is a plant from the grass family that has broad applications. The application of bamboos in construction and textile industries provides eco-friendly and smart solutions to rural and developed communities. Bamboos are stiff and have good tensile strength. Bamboo fibers are used extensively in textile, paper and pulp, construction, interior, flooring, timber, and furniture applications. Bamboos are used for heavy-duty flooring and decking due to their hard and durable nature. Bamboo is environment friendly as it has high anti-radiation capacity and plays a significant role in air purification.
MARKET DYNAMICS
The growing demand for bamboos is attributed to the increasing use of bamboos in construction and for developing green architecture and eco-friendly products. Owing to a rise in plastic waste and a shift in consumer preferences to eco-friendly products such as textiles, packaging and interior applications such as flooring and paneling, the demand for bamboo products has upsurged. Moreover, the excessive depletion of forest resources and seasonal depletion of trees have caused a shortage of forest-sourced wood. Therefore, various manufacturers in building materials, construction, and paper & pulp industries are opting for alternative solutions, such as bamboos, to replace wood and conserve forests.
MARKET SCOPE
The "Global Bamboos Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the bamboos market with detailed market segmentation by end-use industry. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the bamboos market.
Strategic Insights
MARKET SEGMENTATION
The global bamboos market is segmented into end-use industry. By end-use industry, the market is segmented into wood & furniture, construction, bamboo shoots, pulp & paper, textile, agriculture, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global bamboos market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 with respect to five major regions North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. The bamboos market by each region is later subsegmented into respective countries. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in these regions.
From the regional perspective, Asia Pacific is expected to register the fastest growth during the forecast period. The strong growth of the market in the region is due to the large-scale production of bamboo and a rise in demand for bamboos in the region. There is a high demand for bamboos in construction and industrial applications. Growing investment in green building and increasing initiatives by the Chinese government for cultivation of bamboos, are further expected to boost the demand for bamboos in China.
The below figure showcases the revenue growth trend in the bamboos market:
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Source: The Insight Partners Analysis
The report analyzes factors affecting the bamboos market from both demand and supply sides and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, affecting the market during the forecast period. The report also provides an exhaustive Porter's five forces analysis, highlighting the factors affecting the bamboos market in these regions.
IMPACT OF COVID-19 PANDEMIC
Before the COVID-19 pandemic, the bamboos market was mainly driven by the growing use of bamboos in end-use industries such as furniture, textile, paper & pulp, and construction & materials. However, the COVID-19 pandemic drastically altered the status of the infrastructure & materials sector and impacted the growth of the bamboos market. The pandemic caused disruptions in the supply chain of raw materials. The demand for bamboos was reduced due to a significant slowdown in the construction industry, which caused a negative impact on the green and sustainable infrastructure sector. Moreover, the shutdown of the hotels & hospitality sector during the pandemic negatively impacted commercial interior and renovation industries.
As the economies are reviving their operations, the demand for bamboos is improving further. The relaxation of lockdowns in different countries has enabled industries to develop, renovate, and shift toward green infrastructure solutions with subsequent investments, owing to recovering economies and market stability. These key factors are expected to increase the demand for bamboos during the forecast period.
MARKET PLAYERS
The report covers key organic and inorganic growth strategies in the bamboos market. Various companies are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Inorganic growth strategies witnessed in the market were acquisitions, partnerships, and collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players are anticipated to have lucrative growth opportunities in the future with the rising demand for bamboos.
The report also includes the profiles of key bamboos market companies, along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, key development in the past five years. Below mentioned is the list of a few companies engaged in the bamboos market.
- MOSO International B.V.
- Bamboo Australia
- Dasso Group
- EcoPlanet Bamboo Group
- Bamboo Village Company Limited
- Smith and Fong Co Inc.
- Kerala State Bamboo Corporation
- Epitome Bamboowood Products
- Hangzhou Zen Bamboo and Hardwood Products Co., Ltd.
- Fujian HeQiChang Bamboo Product Co., Ltd.
The dedicated research and analysis team of The Insight Partners consists of experienced professionals with advanced statistical expertise. It offers various customization options in the existing study.
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