Bamboos Market Set to Reach $12 Billion by 2029, FMI Reports
Bamboos Market Key Players – Moso International B.V., Bamboo Village Company Limited, and Shanghai Tenbro Bamboo Textile Co. Ltd.
The global bamboos market is projected to display strong growth between 2019 and 2029, to reach an estimated valuation of US$ 12 billion. On the other hand, the industry is likely to be strongly affected in the short term, largely owing to lockdown restrictions imposed on nations around the world which have impacted supplies of fresh bamboo to end-use industries. The market is expected to display gradual recovery owing to economic uncertainty arising from the outbreak.
“Applications in the textile and furniture industry are key contributors to revenue in the bamboos market. Environmental and sustainability awareness among consumers has been major influencers. Use in food as an immune-boosting ingredient has gained traction during the coronavirus pandemic creating opportunities for market players,” states the FMI analyst.
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Bamboos Market- Critical Takeaways
- Paper and pulp applications for bamboo material have increased substantially with growing importance being given to sustainability initiatives in the sector.
- Consumption of food and nutraceutical products comprising bamboo has increased, driven by high nutrition and low-calorie formulation profiles.
- The Asia Pacific remains the leading market for bamboos, driven by large-scale cultivation and exports, in addition to favorable government policies towards the industry.
Bamboos Market- Drivers
- Niche application in the infrastructure construction sector as sustainable building material increases demand bamboo.
- Major contributions from the bamboo industry towards job generation and environmental efforts have generated favor among consumers and governments.
Bamboos Market- Restraints
- Applications of potentially toxic chemicals in bamboo processing operations and associated regulations hinder the market growth.
- The extinction of bamboo species has been a major area of concern for market players.
Coronavirus Impact on Bamboos Market
The global bamboos industry has had to face significant challenges during the coronavirus pandemic. Lack of adequate fresh bamboo supplies, owing to transport and logistical disruptions from lockdowns have hurt market prospects. Lower disposable incomes have reduced demand from bamboo product consumers. Furthers, shut down of foodservice businesses has also hurt demand for edible bamboo. Financial support for small-scale players from governments will be essential to their survival.
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Competitive Landscape
EcoPlanet Bamboo, Moso International B.V., Bamboo Village Co. Ltd., Bamboo Australia Pvt. Ltd., and Shanghai Tenbro Bamboo Textile Co. Ltd. are some of the leading participants in the bamboos market.
Players in the Bamboos market have been found to expand operations geographically through strategic acquisitions and through government collaborations to consolidate supply and distribution networks.
For instance, EcoPlanet Bamboo has announced the expansion of its operations into South Africa, with the acquisition of SA Bamboo. Further, Heijinghe Biotechnology Co., Ltd has opened a new bamboo shoot processing plant in collaboration with the government in China’s Zhenxiong County. Also, the government of Assam in India has announced the development of a Bamboo Industrial Park, which will open to market players in 2021.
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BAMBOOS MARKET TAXONOMY
End-use Industry
- Wood and Furniture
- Timber Substitute
- Plywood
- Mat Boards
- Flooring
- Furniture
- Outdoor Decking
- Construction
- Scaffolding
- Housing
- Roads
- Food (Bamboo Shoots)
- Pulp & Paper
- Textile
- Agriculture
- Others (Charcoal & Handicraft)
Region
- North America
- Latin America
- APAC
- EMEA
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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