The Bamboo Global Market Report 2023 by The Business Research Company, provides bamboo market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Bamboo Global Market Report 2023, the global bamboo market size grew from $66.22 billion in 2022 to $71.63 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the bamboo is expected to grow to $92.62 billion in 2027 at a CAGR of 6.6%.
The increase in demand for paper is expected to propel the growth of the bamboo market going forward. Paper is a flat, thin sheet material that is made from cellulose fibers derived from wood, rags, and other raw materials and is suitable for writing on, wrapping, and decorating walls. Pulp obtained from bamboo is used for manufacturing paper. Paper is used for the production of books, printing, packaging, and decorating.
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The bamboo market is segmented:
1) By Type: Herbaceous Bamboos, Tropical Woody Bamboos, Temperate Woody Bamboos
2) By Species: Moso bamboo, Bambusa vulgaris, Other Species
3) By Application: Raw Materials, Industrial Products, Furniture, Shoots, Other Applications
4) By End-User: Wood And Furniture, Construction, Food, Pulp And Paper, Textile, Agriculture, Other End-Users
Rising government initiatives for bamboo production have emerged as the key trend gaining popularity in the bamboo market. Governments across various countries are promoting bamboo production through initiatives and investments to meet the growing demand and to increase exports. For instance, the International Bamboo and Rattan Organization (INBAR), a China-based independent intergovernmental organization, has developed the 2015–2030 INBAR Strategy to develop the bamboo sector to address various issues, including climate change mitigation, livelihood, and land degradation, and to focus on the use of bamboo as a strategic resource.
The bamboo market report table of contents includes:
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