In 2023, the global bamboo products market is projected to be worth US$ 73432.4 million worldwide. Globally increasing focus on sustainability and reducing plastic waste is expected to propel the market at a robust 6.0% CAGR, increasing its size to US$ 131506.2 million in 2033.
With infrastructure built up and consumers more aware of eco-friendly, sustainable products, the global industry is supposed to take off.
As manufacturers employ building and construction resources to develop infrastructure, bamboo products in increasing numbers find their way into the marketplace. With the added knowledge of bamboo ’ s qualities, such demand could rise even further.
North America: Because industrial products and brand-new bamboo items are selling well, the United States is supposed to be growing fastest. Demand for the product may be sustained by different end-use industries, making the United States a major market.
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In response to growing environmental concerns and a desire to reduce carbon emissions, bamboo-based products have become increasingly popular. This has led to a rise in bamboo cultivation in the United States.
In addition to furniture, flooring, decking, toothbrushes, charcoal production, medicine, and fabrics (instead of cotton or synthetics), bamboo is used as a replacement for conventional materials. Bamboo cultivation is cheaper than other hardwoods and requires a shorter growth period.
Key Takeaways from Market Study
- With a CAGR of 6.0%, automatic bamboo products dominate the market.
- The United States market is forecast to increase at a steady 7% CAGR through 2033. the United States bamboo products market is projected to offer an absolute dollar opportunity of US$ 5.15 billion, with the market valuation reaching US$ 12.3 billion by 2033.
- Sales of bamboo products in China are expected to grow at a robust 9% CAGR through 2033, providing an absolute dollar opportunity of US$ 1.9 billion over the forecast period
- Based on product type, sales in the building and construction segment are expected to remain high over the forecast period.
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Competitive Landscape:
To improve sales in emerging markets, leading bamboo product manufacturers are investing in promotional strategies. Additionally, manufacturers are expanding their production facilities by merging, acquiring, and collaborating, which gives them a competitive advantage over their competitors.
As part of the market’s recent advancements, bamboo has been used to make foldable bamboo green huts, bamboo speakers, bamboo protection helmets, green computers, bamboo cell phone shells, bamboo sunglasses, bamboo cars, bamboo straws, and more.
Several prominent companies dominate this market, including MOSO International BV, Bamboo Village Company, Kerala State Bamboo Corporation, Shanghai Tenbro Bamboo Textile Company, Smith & Fong Company, Huayu Group, Pappco Greenware, Xiamen HBD Industries and Trade Company, Bamboo Master, Meysher Industrial Group, Jiagxi Bamboo Technology Development Company Ltd. and others.
Recent Developments:
- Mosol International BV launched MOSO Bamboo X-treme curved decking boards in March 2022 that come with a 25-year warranty for decking and roofing. MOSO Bamboo X-treme curved decking boards’ unique properties include high stability, an anti-slip finish, and resistance to moisture, mold, and termites.
- As part of India’s National Bamboo Mission launched in 2018, the mission encourages the conservation and cultivation of bamboo, as well as strengthening the marketing of bamboo products such as handicrafts. The mission has launched several initiatives that provide access to credit, knowledge, and markets to craftsmen and small enterprises involved in bamboo-based business activities.
Bamboo Products Market By Category
Product Type:
- Lifestyle Products
- Furniture
- Home Décor Items
- Kitchenware & Cutlery
- Personal Accessories
- Yarn & Textiles
- Educational and Recreational Products
End-User:
- Personal and Residential
- Commercial
- Industrial and Infrastructure
Sales Channel:
- Online
- Offline
Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding China & Japan
- Japan
- China
- Middle East & Africa
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