Bamboos Market Analysis Report, By Application, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global bamboos market size was accounted for USD 68.8 billion in 2018. It is projected to expand at 5.0% CAGR over the forecast duration, 2019 to 2025. Increasing investment in infrastructural development, growing emphasis on sustainable construction, and consumer awareness about the advantages of bamboos materials are attributing to the growth of the market.

Bamboo is a sustainable material and offers social, economic, and environmental benefits to society. The tropical climate is ideal for bamboo production; however, it can be grown under a wide range of climatic conditions. Compared to trees, bamboo absorbs 40% more CO2 and offers almost 35% more oxygen, thereby, improving the quality of air. In addition, bamboo cultivation controls the erosion of soil and provides carbon fixation.

Similarly, rattan palms can be grown in the tropical climate and it is durable, flexible and light in weight. It can be grown with other fruits, thus, offering additional income to the farmers. Rattan cultivation helps in eradicating poverty and provides a livelihood to the rural population. The production of both rattan and bamboos are gaining traction in Asia Pacific countries like India, Japan, and China along with African nations such as Nigeria, Cameroon, and Ghana.

Owing to benefits such as easy to harvest, affordability and transportation, rattan and bamboos are gaining traction over timber. Apart from being resistant to water, they are highly durable. These benefits make bamboo useful in various applications including shelter, handicraft products, and furniture. In addition, rattan and bamboos are also used in woven products, flooring, mats, and charcoal. Thus, the growing number of applications both residential and commercial are estimated to bolster the growth of the bamboos market.

However, in the recent past, the use of chemicals has surged in bamboo processing. This has resulted in stringent regulations. These regulations may obstruct market growth for a longer time by disrupting the supply chain and increasing the cost.

Application Insights

Bamboos, as well as rattan, are increasingly used in the manufacturing of furniture and industrial products. In 2018, industrial applications accounted for more than 20% of the share in the market. Various applications such as flooring, pulp & paper, and plywood together come under industrial applications.

Bamboos also find their application in shoots, especially for medical purpose. Shoots made up of bamboo offer several health benefits such as spiritual healing, digestion, mental alertness along with providing benefits in respiratory diseases and depression. On the other hand, rattan has anti-inflammatory and anti-cancer properties. Owing to these factors, the shoots category held a significant share in the market in 2018.

Regional Growth

The Asia Pacific alone held more than 60% share in the market. Further, the region is estimated to grow at the fastest CAGR during the forecast period. Government initiatives to promote the cultivation of rattan and bamboos for economic viability are driving regional growth. For example, the government of India passed a bill in December 2017 to declassify bamboo from the tree category, thus, offering lucrative opportunities for manufacturers to invest in bamboo processing.

In addition, MEA is estimated to witness significant growth from 2019 to 2025. Increasing support by the government to promote the bamboos cultivation in African countries is driving regional growth. The use of bamboos is popular in local African communities in setting up granaries and construction. In addition, bamboos also find their application as raw materials for woven products, baskets, and handicrafts.

Impact of COVID-19

The outbreak of COVID-19 has significantly affected the growth of the bamboos market. The coronavirus pandemic has resulted in the imposition of lockdown across several countries, thereby, disrupting the supply chain. In addition, the pandemic has slowed down the world economy, thus, consumer spending on furniture and other industrial products has significantly reduced. Further, there has been a rapid decline in the demand for construction activities amid a migration of labor due to COVID-19 in Asian and African countries. Thus, the outbreak of pandemics has adversely affected the market growth.

Bamboos Market Share Insights

Owing to the presence of various local and international players in the market, there lies stiff competition in the market. Key companies in the market are Shanghai Tenbro Bamboo Textile Co. Ltd, Moso International B.V, EcoPlanet Bamboo, and Feiyu Industry Co. Ltd among others.

The increasing awareness among consumers regarding the use of sustainable products is driving the market growth. Manufacturers also focus on adhering to stringent regulatory guidelines in the processing of rattan and bamboos. Market players are emphasizing the efficient supply chain to cater to the growing demand.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global bamboos market report based on application and region:

• Application Outlook (Revenue, USD Billion, 2014 - 2025)
    • Raw materials
    • Industrial products
    • Furniture
    • Shoots
    • Others

• Regional Outlook (Revenue, USD Billion, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
        • France
        • Italy
        • Benelux
    • Asia Pacific
        • China
        • India
        • Japan
        • Indonesia
        • Vietnam
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa