Bamboos Market Assessment, By Bamboo Type [Bamboo Temen, Bamboo Apus, Bamboo Hitam, Others], By Product Type [Woven Bamboo Products, Engineered Bamboo Products, Bamboo Furniture, Others], By End-use [Construction, Furniture, Textile, Pulp and Paper, Other

Bamboos Market Assessment, By Bamboo Type [Bamboo Temen, Bamboo Apus, Bamboo Hitam, Others], By Product Type [Woven Bamboo Products, Engineered Bamboo Products, Bamboo Furniture, Others], By End-use [Construction, Furniture, Textile, Pulp and Paper, Others], By Region, Opportunities, and Forecast, 2017-2031F

Global bamboos market size was valued at USD 75.11 billion in 2023, which is expected to grow to USD 125.34 billion in 2031 with a CAGR of 6.6% during the forecast period between 2024 and 2031. Bamboo is an advanced construction cloth because of its energy, flexibility, and occasional weight. It is used for scaffolding, constructing systems, and as an alternative to greater traditional construction materials like metal and wood. Additionally, bamboo is a popular material for handicrafts and furniture layouts due to its aesthetic appeal and versatility, which is frequently used to make stylish, environmentally responsible merchandise. The special qualities of bamboo have also prompted the creation of new goods, such as bamboo scrimber, which has excellent strength and durability and can be used in a variety of construction-related applications. Moreover, bamboo is used to manufacture several household objects and musical instruments, which acts as a growth-inducing factor. Compared to different substances, bamboo is normally the least expensive to cultivate and harvest. Its brief boom increases bamboo farmers' earnings as well as the plant's attraction economically. This socioeconomic factor helps the bamboo marketplace's enlargement even more.

The advent of engineered bamboo products has extended the cloth's range of applications and enhanced the overall fine of the product because of non-stop advancements in bamboo processing technologies. Customers are looking for sustainable and environmentally friendly products because of the growing environmental focus. Bamboo fits in well with these alternatives due to its inexperienced credentials.

Finally, as a part of large sustainability projects, businesses are integrating bamboo into their supply chains and merchandise, which is increasing the call for bamboo-based products. Governments throughout the globe are presenting subsidies and incentives to inspire the use and cultivation of bamboo. Farmers and businesses are encouraged to spend money on bamboo-related tasks by this aid.

Strong Demand from the Construction Sector to Drive the Bamboo Market Globally

The bamboo market is considerably impacted by the development industry, as growing interest in environmentally pleasant building strategies has made bamboo a competitive replacement for traditional construction materials. Bamboo is an aid that is appealing to the development industry due to its brief growth, renewability, and versatility. It additionally provides advantages like low environmental effect, high tensile power, and fee effectiveness.

Bamboo's useful mechanical traits and low carbon emissions make it an exceptional constructing cloth with foremost environmental benefits, highlighting its capability as a sustainable fabric in the construction enterprise. Furthermore, financial incentives are creating significant infrastructure and industrial building opportunities, resulting in investments in sustainable real estate and new homes. Green buildings have lower operating costs due to their enhanced performance and energy-efficient design. As a result, lower application and preservation fees benefit both owners and traders, eventually increasing profitability. Several authorities’ proactive endorsement of strength-efficient and sustainable building practices is likewise contributing to the developing trend of inexperienced construction. All these factors contribute to the rising need for bamboo in the creation zone.

The increase in demand for bamboo, for example, is bolstered by using certifications, including Leadership in Energy and Environmental Design (LEED), which assist with tax incentives and draw tenants to commercial spaces. LEED certification additionally enables accomplishing credits just like the materials and sources credit and the indoor environmental best credit score. According to Green Business Certification Inc., in 2022, China held the dominant position within the worldwide green construction ranking. In 2021, China's green construction initiatives had 1,077 units, and in 2022, it became 1,121 units, an increase of 4.1%. In 2022, Canada held the third position in the worldwide green construction rating. In 2021, green construction projects in Canada have been 205 units, and in 2022, it changed to 248 units, an increase of 4.1%.

Additionally, consistent with Construction Week India, India's building substances enterprise grew by 10% in 2022 as compared to 2021, and demand for green construction substances is growing internationally. Bamboo is in excessive call for within the construction industry, and this demand is further pushed via the growing trend in the direction of sustainability.

Rise of Furniture Sales Through E-Commerce to Raise the Demand for Bamboos Globally

One of the main factors propelling the bamboos market is the increase in furniture demand. Bamboos offers a sustainable material option for furniture production, catering to the growing trend of consumers embracing sustainability. This appeal goes hand in hand with the growing trend of unique and environmentally friendly furniture, which, in turn, drives up demand for bamboos. Bamboo furniture is being used in homes, apartments, and recreational areas because of the market's expansion brought about by the construction of infrastructure and the increased emphasis on using sustainable materials.

Moreover, the growing demand for aesthetically pleasing and unique furniture from the residential and commercial sectors is surging the production and sales of bamboo furniture. Additionally, the growing trend for eco-friendly products and an increasing emphasis on global sustainability is also driving up demand for bamboo furniture.

For instance, according to EXPO SICAM, during the first half of 2022, the furniture market witnessed growth of 3.2% in the furniture industry compared to the same period in 2021. Bamboo furniture became more in demand due to the increase in furniture sales and retailers' adoption of e-commerce.

Increasing Demand for Eco-friendly Textile

The market for bamboo textiles is rising in response to the growing emphasis on sustainability and the growing demand for eco-friendly goods. Bamboo clothing is becoming more prevalent because of its softness and durability, especially in East and South Asia, where customers are becoming more and more interested in eco-friendly products. Additionally, growing consumer awareness and supportive government initiatives and policies that encourage sustainable practices and the use of bamboo have contributed to the rising demand for eco-friendly products, including bamboo textiles.

For instance, over 85% of top brands based on sales have made their supply chains' decarbonization goals known to the public. Additionally, it is anticipated that during the next two to four years, more than 35 new laws pertaining to sustainability will be implemented globally. These laws will address a variety of issues, including labelling specifications, import limitations, and product design guidelines. Therefore, securing access to sustainable materials is crucial because the climate impact of a fashion and apparel brand can be attributed up to two-thirds to its raw materials. By 2030, the demand for climate-impact (""preferred"") raw materials, such as bamboo, will rise by more than 133 million tons. This scenario will drive the demand for bamboo market during the forecast period.

Future Market Scenario (2024 – 2031F)

• Several international certifications, including the US LEED and the UK's Green Homes Grant, promotes the usage of bamboo in commercial and residential construction projects due to its sustainable nature.

• Compared to other common plants used as fabrics, bamboo requires less water, labor, and time to grow, making it a preferred material among sustainable fashion brands. Because of this, end users are paying more attention to sustainability as the many consequences of climate change become more noticeable. Therefore, the bamboo market is becoming increasingly attractive in the current circumstances.

• The contemporary designs of bamboo flooring, furniture, wallpaper, and even bathroom accessories have been driving the market. The material's sustainability and lightweight, which facilitates mobility, are contributing to its increasing popularity in both the residential and commercial sectors. The following are some types that are frequently used in furniture: laminated forms, strips, and artificial bamboo board.

• Bamboo market is witnessing a rise in new and creative trends as demand for sustainable materials grows. The use of bamboo in packaging materials is one such trend. Bamboo packaging gives products a natural, environmentally friendly look in addition to being biodegradable.

Key Players Landscape and Outlook

As consumers demand eco-friendly options, organizations are proactively diversifying their product strains, with a focal point on bamboo-based merchandise. This trend is being pushed via numerous factors, inclusive of patron focus on environmental troubles, corporate sustainability tasks, and the unique homes of bamboo that make it an appealing alternative for several programs. There's a developing patron desire for products that are consistent with eco-friendly values, as they become more environmentally aware. Bamboo appeals to consumers looking for sustainable alternatives because it is a renewable resource with little impact on the environment.

For instance, in September 2022, Libas Consumer Products Ltd, introduced the KNG brand of organic innerwear made of bamboo fiber and announced a rights issue ""KNG brand Organic Innerwear,"" which is meant to take the place of conventional innerwear because it is non-allergic and sustainable.