The global bamboo products market was valued at US$ 60 Bn in 2019, selling over 3 billion tons of merchandize. Due to the onset of COVID-19, yearly growth in 2020 has decelerated to 3.3% as compared to 2019. However, this sluggishness is likely to diminish by 2021.
Demand is accelerating due to rising incorporation of sustainable construction material. As countries race towards achieving complete sustainability, adoption of environmentally friendly material is witnessing significant upsurge, providing opportunities to bamboo product manufacturers to expand their scale of operations.
Accelerating Timber Prices
Timber prices have been skyrocketing since the past several years. Lumber prices globally surged from US$ 244.36 per 1000 board feet in 2000 to over US$ 560 per 1000 board feet in 2020. According to the Bureau of Labor Statistics, residential construction goods prices soared at nearly 1% until August 2020.
The increase from April-August 2020 is nearly exclusively an end-product of rise in softwood lumber prices, advancing nearly 15%. Prices have risen almost by half since April. Based on these trends, adoption of bamboo in construction material is rising substantially.
As the price of timber worldwide continues to surge, adoption of bamboo as a substitute is bound to increase. Various low and middle income nations rely on bamboo as an important natural resource for construction and housing, as well as consume its shoot as a delicacy.
Heightening Sustainability Concerns
Environmentalists, government bodies and NGOs worldwide have hailed bamboo as an effective solution to the sustainable development paradigm. As urbanization accelerates, demand for housing has caused immense deforestation, causing carbon levels to rise exponentially.
According to the United Nations’ Sustainable Development Goals Report, 2019, atmospheric CO2 levels increased to 405.5 ppm in 2017, compared to 400.1 ppm in 2015. This represented a 146% increase in global emission levels. Most of this resulted in excessive deforestation to acquire timber for construction.
Realizing this, governments and corporate entities are consciously making attempts to explore alternative solutions, a criterion which bamboo fills aptly. In China, for instance, excessive timber harvest has reduced forest cover by nearly a quarter. Therefore, bamboo utilization in the country has heightened.
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Eco-friendly Bamboo Products in Vogue
Tied with the aforementioned trend on sustainability concerns, the advent of eco-friendly bamboo products is generating credible expansion opportunities, with products such as bamboo toothbrushes and disposable products already penetrating the global landscape.
Bio bags manufactured from bamboo are fast garnering attention of consumers around the world. Of all the single use plastic products, plastic bags have posed the greatest threat to the environment, with more than 5 trillion disposable plastic bags making their way to landfills in countries like India.
Thus, bamboo derived reusable bags and biodegradable cutlery are fast attracting manufacturers’ attention, laying the ground for their future proliferation.
Limited Awareness Among Bamboo Farmers
The global bamboo products market is interspersed with regional players, most of them concentrated across China. This is mostly because the East Asian giant is the sole cultivator of bamboo throughout the world. Hence, global presence of bamboo product manufacturers is limited.
Several bamboo farmers are unaware of prevailing market prices and rely on traders to determine prices. Besides this, lack of awareness regarding market potential is another factor that is hindering market growth. In light of this, many regional governments are undertaking numerous efforts to promote and support the bamboo industry.
Bamboo Products Market- Regional Analysis
North America Bamboo Products Market
Globally, the United States is the largest importer of bamboo products. Efforts are accelerating to increase domestic production which is attracting various players.
Rising environmental awareness is heightening the need for preserving forest resources, leading to a deceleration in timber harvesting. This trend is providing prominent bamboo product manufacturers to make inroads into the market.
Since 2016, the government has developed Mixon Farms in Florida into a bamboo farm. Initially, about 8 acres of farmland was selected which was increased subsequently. Another farm in Fort Lauderdale, OnlyMoso, specializes in growing Moso bamboo.
The bamboo farming is expected to sail through the pandemic crisis, with the U.S government providing strong financial support to farmers. In October 2020, the Department of Agriculture’s Farm Service Agency (FSA) approved over US$ 7 billion in payment to producers of specialty crops. This is likely to sustain the bamboo production shortfalls.
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Europe Bamboo Products Market
Use of bamboo substitutes instead of tropical timber is proliferating across Europe. Their high durability and strength are enhancing the popularity of value-added bamboo products in recent years. It is recommended that vendors concentrate on sustainability certifications and competitive pricing.
Between 2013 and 2015, bamboo imports to Europe were quite stable, with over 40% received from emerging economies such as China. Top importers included the Netherlands (€ 20 million), France (€ 8 million), U.K (€ 8 million), Belgium (€ 5 million) and Germany (€ 4 million).
To facilitate domestic production, OnlyMoso is assisting the governments of Spain, Romania, Italy and France to augment investments in bamboo market and manufacturing units.
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East Asia Bamboo Products Market
6 out of 10 bamboo products are manufactured in China, the global bamboo capital.
China is the largest producer and exporter of bamboo and rattan products, accounting for 68% of global exports in 2015. It was the 4th largest importer of bamboo products that same year. By 2016, total output value of the Chinese bamboo industry amounted to US$ 31.8 billion, according to the Chinese Bamboo Industry Association. In spite of COVID-19, the East Asian bamboo products market is likely to survive well.
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Bamboo Products Market- Report Scope
Historical Data Available for
US$ Mn for Value and Units/Tons for Volume
Key Regions Covered
North America, Latin America, Europe, South Asia, East Asia, Oceania & MEA
Key Countries Covered
U.S., Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, BENELUX, Nordics, Russia, India, Thailand, Indonesia, Malaysia, China, Taiwan, Japan, South Korea, GCC, Turkey, Northern Africa & South Africa
Key Segments Covered
Product Type, Sales Channel & End-User
Key Companies Profiled
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 and Jiangxi Bamboo Technology Development Company Ltd.
Market Overview, Key Market Trends, Key Success Factors, Demand Analysis, Market Background, Impact of COVID-19, Segmental Analysis, Regional Profiling, Market Structure Analysis & Competition Analysis
Customization & Pricing
Key questions answered in the report
- How will the bamboo products market grow until 2030?
As per FMI’s analysis, the global bamboo products market is anticipated to register a 6% value CAGR from 2020-2030. However, near-term slowdown is projected due to COVID-19 pandemic
- What drives the global bamboo products market?
Over the years, excessive timber consumption has led to massive deforestation, ushering in supply shortages and a consequent increase in timber prices. This is compelling countries to incorporate bamboo as an important construction material, thus heightening growth prospects. In addition, the need to enforce sustainable practices is also catapulting growth
- Which is the largest market for bamboo products?
East Asia is expected to be the largest and fastest growing bamboo products market, owing to high volumes of domestic bamboo production. Amongst all East Asian nations, China is likely to pivot future growth
- What is COVID-19’s impact on the bamboo products market?
The COVID-19 pandemic has ushered in a significant degree of market sluggishness, attributed to nationwide lockdowns which have disrupted supply chains. However, governments are taking proactive steps to mitigate this negative impact by promoting extensive bamboo cultivation
- Which are the key bamboo product manufacturers?
Prominent players operating in the global bamboo products market include 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 and Jiangxi Bamboo Technology Development Company Ltd.
Enquiry before Buying
- Is the bamboo products market research conducted by Future Market Insights?
Yes, the bamboo products market report has been conducted by expert analysts of Future Market Insights through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to the research analyst
- What research methodology is followed by FMI?
FMI follows a methodology that encompasses the demand side assessment of the market, and triangulates the same through a supply side analysis. This methodology is based on use of standard market structure, methods and definitions.
- Who are the respondents for primary research?
FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.
- What are the sources of secondary research?
FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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- Lifestyle Products
- Home Décor Items
- Kitchenware & Cutlery
- Personal Accessories
- Yarn & Textiles
- Building and Construction Products
- Bamboo Structures
- Partition Boards
- Prefabricated Houses
- Packaging and Storage Products
- Educational and Recreational Products
- Personal and Residential
- Industrial and Infrastructure
- North America (U.S & Canada)
- Latin America (Brazil, Mexico & Rest of Latin America)
- Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordics, Russia & Rest of Europe)
- South Asia (India, Thailand, Indonesia, Malaysia & Rest of South Asia)
- East Asia (China, Taiwan, Japan & South Korea)
- Oceania (Australia & New Zealand)
- MEA (GCC, Turkey, Norther Africa, South Africa & Rest of MEA)