Expanding at a CAGR of 10.8% the global sales of Bamboos is expected to increase from a valuation of US$ 5,326.8 Mn in 2021 to US$ 12,204.5 Mn by the end of 2029.
|Global Bamboos Market Size (2021A)||US$ 5,326.8 Mn|
|Global Bamboo Sales (2022E)||US$ 5,886.9 Mn|
|Projected Bamboos Market Size (2029F)||US$ 12,204.5 Mn|
|Value CAGR (2022-2029)||10.8%|
|Collective Value Share: Top 3 Countries (2022E)||74.1%|
Extraordinary growth in demand for green construction especially across developed regions such as North America and Europe along with increased adoption of bamboos for construction is expected to propel the market valuation over the forecast period. Considering this, MWR has forecasted the global Bamboos sales to reach a valuation of US$ 12,204.5 Mn in 2029.
How The Market Progressed Till June 2022?
|H1,2022 Projected (P)||10.5%|
|H1,2022 Outlook (O)||10.7%|
|BPS Change : H1,2022 (O) – H1,2022 (P)||(+) 20 ↑|
|BPS Change : H1,2022 (O) – H1,2021 (A)||(+) 60 ↑|
According to MWR analysis, the bamboo market is estimated to witness a growth rate of 10.7% during the period of first half 2022. The growth outlook of the market is significantly influenced by certain demographic factors, industrial and economic factors including construction sector spending, sustainable development focus, and population growth are among others.
Bamboos demand in the construction for green buildings trends is increasing considerably. Furthermore, high adoption and demand for green building to promote the sustainability trend in developed economies are expected to elevate the market at a significant CAGR.
Awareness of various health benefits of bamboos and growing research and development in the healthcare sector is expected to derive various new application areas of bamboos in the medical field, this will create new opportunities for the bamboos market.
Future Market Insights has reviewed the market dynamics and recent industry trends to estimate the current market growth outlook for bamboos. The market has been estimated to witness a spike of 20 bps on half yearly growth outlook in H1 2022 as compare to earlier projected growth. This growth outlook is attributed to significant growth in the construction sector and adoption of sustainability.
Despite the significant demand for various applications, Government laws and regulations and policies on ownership of resources and security have made it difficult for consumers and sellers to unlock the value of its abundant sources, which is expected to act as a restraint for the bamboo market.
What Is The Expected To Be The Key Driver Of The Market?
Bamboos, a versatile multi-purpose forest produce, plays a vital role in the world’s domestic and industrial economies. Bamboos and bamboo-based products are used for a wide range of indoor and outdoor applications owing to their abundance and versatility. It is one of the highly renewable resources in the Indian socio-economic-cultural-ecological-climatic-functional context with more than 1,500 recorded uses
Besides its role as a material for consumer products, it also has great potential as an industrial raw material. Various industrial applications of bamboos include food production, wood substitute, pulp and paper, handicrafts, medicinal products, cottage industries, charcoal production, etc.
Bamboo is often considered to be a replacement of wood and industrial raw materials in both modern industrial and traditional cottage sectors. Owing to such a diverse range of applications demand for bamboos is expected to rise at marvellous growth rates during the upcoming assessment period across the regions.
What Is Major Challenge Faced By Bamboos Manufacturers?
According to IATA, airlines carriers in Africa are estimated to deliver the weakest financial performance with a net loss of $800 Million, which can be attributed to civil conflict and disturbances being witnessed in the region. This, in turn, may stagnate the growth of the aviation industry. Which might indirectly impact the growth of the Bamboos market.
Moreover, due to low GDP, people and manufacturers operating in the aviation industry are less interested in the refurbishment of aircraft interiors and are also compromising with the quality of the interiors. This is the key factor that may hinder the growth of the Bamboos market.
What Are The Opportunities Offered For The Manufacturers In Market?
Bamboos have immense potential to transform the rural/tribal economy of India and contribute to the sustainable developmental efforts of the country. However, it is governed by a web of forestry laws and policies, there are serious restrictions on its harvesting, farming and transportation.
These governmental laws and regulations, along with the policies on ownership of resources and security, and lack of institutional mechanisms have made it difficult for consumers and sellers to unlock the value of its abundant sources
There are various regulations in India including Indian Forest Act, Forest Conservation Act, Forest Rights Act, etc. which are expected to acts as restraint in the APEJ bamboos market.
What Are Various Health Benefits Associated With Bamboo Products?
Nowadays, Bamboos are in great due to various health benefits associated with them. Owing to its unique composition, it is naturally desired for its health benefits. There are various advantages of bamboo and bamboo shoots which include:
- Bamboo shoots helps in reducing the risk of cancer
- Bamboo shoots strengthen the immune system
- Bamboo assists in weight loss
- Bamboo is very effective against respiratory diseases
- Bamboo is also useful in curing snake and scorpion bites
Awareness towards various health benefits of bamboos is growing at a rapid pace. With growing research and development in healthcare sector is expected to derive various new applications areas of bamboos in medical field. Considering this factor, Future market Insights is expecting reasonable growth for the bamboos in healthcare sectors during the forecast period of 2022-2029.
What is the Demand Outlook for Bamboos High in the U.S.?
As per MWR, the U.S. is projected to account for a significant share in the global Bamboos market. Over the projection period, the United States is expected to dominate the North American Bamboos market, with a substantial value share in terms of consumption.
Growing trend of sustainability is expected to be key factor driving the consumption in United States. Growing awareness towards use of natural products among Americans is compelling companies in the countries to use natural ingredients in their products. Owing to the diversified uses of bamboos in various industries is expected to get benefit and expand its market valuation over the forecast period in the United States.
What Is Growth Outlook For Bamboos Market In China?
China is projected reach an estimated value of US$ 6,051.0 Mn by the end of 2029. China is leading consumer and producer of bamboos across the globe. Favourable weather conditions in the country promotes the growth of bamboos in the country.
Growing trend of sustainability and recent growth in investment and construction of green building and eco-friendly products by the Chinese government is expected to emerge as a key factor driving the consumption of bamboos in the country.
Moreover, Owing to such a vast population the country is expected to create a huge demand for paper and pulp. Production of paper and pulp is the major consuming application of bamboos. Owing to such a high demand for paper and pulp in the country, China is holding its position among leading consumers of bamboos across the globe.
What Is the Bamboos Market Outlook by End-Use Industry?
Among end-use industries, pulp & paper segment is projected to account for a relatively large market share in terms of both volume and value while food (bamboo shoots) will account for a relatively low market share in terms of value by 2029. The demand for bamboos in pulp & paper industry is expected to be driven mainly by Asia-Pacific market owing to the rise in demand for paper & pulp and supported by the utilization of environmental-friendly raw materials
Construction segment is estimated to account for a 22% revenue share in the global bamboos market by 2022 end, which is expected to dip slightly by 2029 end
Bamboo is remarkably light and strong, especially when compared to other commonly utilized building materials, such as steel. As a result, bamboo is popularly utilized in fences, fishing poles, boats, cutting boards, bridges, construction, etc.
Wood and Furniture segment is inclined towards moderate growth-moderate value and is expected to shift towards high growth-moderate value owing to the rising demand for bamboo-based furniture
Globally, the number of organized/ large players in the production of raw bamboos (target market) are found to be very less. Medium-large bamboo product manufacturers or bamboo processors are present in the global market to a small extent, however, major market share is taken by small and medium scale enterprises.
Availability of bamboo resources play a strategic role in its market development in particular geographies. The raw bamboo manufacturing is majorly concentrated in the Asia Pacific and Latin America region with significant amount of bamboo resources available in countries such as China, India, Myanmar, etc.
In its latest report on global bamboos market, Future Market Insights has tracked all the developments, strategy, product segments, financials, SWOT analysis, and other factors required to define the market structure in the market.
Scope Of Report
|Historical Data Available for||2014-2021|
|Market Analysis||USD Million for Value and KT for Volume|
|Key Regions Covered||North America, Latin America, APAC, and EMEA|
|Key Countries Covered||US, Canada, Germany, U.K., France, Italy, Spain, Russia, Poland, China, Japan, India, ANZ, S. Korea, ASEAN, Brazil, Mexico, GCC Countries, Egypt, South Africa|
|Key Segments Covered||End-Use Industry, and Region|
|Key Companies Profiled|
|Report Coverage||Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives|
|Customization & Pricing||Available upon Request|
Bamboos Market By Category
By End-Use Industry :
- Wood and Furniture
- Timber Substitute
- Mat Boards
- Outdoor Decking
- Food (bamboo shoots)
- Pulp & Paper
- Others (charcoal & handicrafts)
By Region :
- North America
- Latin America