Bamboos Market: Green Revolution Insights into the Booming at $99.8 billion by 2031

Global bamboos market is projected to reach the market size of $99.8 billion by 2031, growing at a CAGR of 4.1%

WILMINGTON, DELAWARE, UNITED STATES, April 15, 2024 /EINPresswire.com/ -- Drivers:
Bamboos are very versatile forest products and are extensively used for producing various consumer and industrial products. In addition, the increased focus of governments in cultivating bamboos in their respective countries is expected to drive demand for bamboos across different industries.The bamboos market size was valued at $65.8 billion in 2021, and is estimated to reach $99.8 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031.

Commonly observed species of bamboos are moso bamboos, bambusa vulgaris, and few others. Among these, the bambusa vulgaris segment accounted for the highest market share in 2020, owing to surge in demand from various end-user industries. The bamboos market is mainly driven by rise in construction activities and growth of paper and pulp industries. Bamboo-based furniture industries are also positively influencing the bamboos industry. However, increase in popularity of cheaper alternatives to bamboo-based products, such as plastic and metal products, constraints the growth of the market.

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The others segment to retain the lion's share

Based on species, the others segment held more than half of the market share in 2021 and is expected to continue this trend through 2031. The same segment would also witness the fastest CAGR of 4.4% during the forecast period. The stupendous growth is owed to the availability of a wide range of bamboo species and their applications in various industries.

The furniture segment to lead the trail through the forecast period

Based on application, the industrial segment held the largest share in 2021, garnering more than two-fifths of the global market and is expected to continue maintaining its strong hold during the forecast period. This is due to the extensive use of bamboos in paper and pulp industry. However, the furniture segment is likely to witness the fastest CAGR growth of 4.9% during the forecast period. This is attributed to increase in demand for bamboo furniture and awareness regarding excessive use of plastics.

Asia-Pacific would dominate the market through 2031

Based on region, Asia-Pacific region bagged the major market share of more than two-thirds in 2021 and would continue to manifest this dominancy through the forecast period. This is attributed to the large number of bamboo plantations in countries such as China, India and Japan. However, the LAMEA region is expected to grow at the fastest CAGR of 5.3% through 2031, the reason being rise in use of bamboo for various construction and industrial applications.

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Top Players:
Key companies profiled in the bamboos market forecast report include Anji Tianzhen Bamboo Flooring Co. Ltd., BambooVision, Bamboo Australia Pty Ltd., Bamboo Village Company Limited, Dasso Group, EcoPlanet Bamboo, Kerala State Bamboo Corporation Limited, Moso International BV, Simply Bamboo Pty Ltd., and Smith & Fong Company.

KEY FINDINGS OF THE STUDY:

The report provides an extensive analysis of the current and emerging bamboos market trends and dynamics.
Depending on type, the warm weather bamboos dominated the bamboos market, in terms of revenue in 2020 and the same segment is projected to grow at a significant CAGR during the forecast period.
By application, construction segment registered highest revenue in 2020.
LAMEA is projected to register highest growth rate in the coming years.
The key players within the bamboos market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the bamboo industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth bamboos market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.

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David Correa
Allied Market Research
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