The increasing government initiatives for bamboo industry production is expected to enable speedy expansion of the market, states Fortune Business Insight, in a report, The growing adoption of bamboos in the wood furniture industry is expected to aid the market growth.
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Increasing Bamboo Cultivation to Reinforce Market
The growing government support for expanding the bamboo industry is expected to bolster the market's healthy growth. For instance, in April, 2018, the Government of India restructured National Bamboo Mission to promote the bamboo sector's holistic growth in India. This mission includes increasing bamboo cultivation and marketing and steps supporting the setting up of new nurseries and strengthening existing ones. The mission also includes making arrangements to increase the availability of quality planting materials in India's states. Furthermore, the increasing adoption of bamboos due to its eco-friendly nature is expected to intensify the market's growth. For instance, bamboo absorbs carbon dioxide and releases 35% more oxygen than its equivalent stand of hardwood trees. Also, it needs no fertilizer or pesticides for growth that makes it a low input-high output plant.
Moreover, bamboo has been used for centuries for a variety of applications. Economically, bamboo serves as a superior substitute to wood. There are about 1,200 species of bamboo. Besides, the rising population is expected to contribute positively to the market growth.
However, durability constraints and wide adoption of synthetic materials is expected to dampen the market growth. Similarly, deforestation activities are expected to hamper market growth.
Favorable Harvest Conditions to Propel Market in The Middle East and Africa
The market in Asia-Pacific is expected to expand gradually. The high consumption and production in China, India, Indonesia, and other neighboring countries is expected to foster growth in Asia Pacific. Bamboo is popularly knowns as ‘Poor man’s timber’ due to its low-cost harvest conditions. The bamboo market in the Middle East and Africa is expected to experience a boom due to promotional activities by the government in African countries such as Kenya, Ghana, Nigeria, and Cameroon. North America is expected to observe a moderate growth rate due to the increasing adoption in the wood and furniture industry.
Europe is expected to proliferate due to the economic and structural attractiveness provided by the bamboos. Some of these structures include Madrid International Airport (Bamboo ceiling), Parking Garage, The Hague, Netherlands, etc. Brazil is home to the largest natural reserve of bamboos, with an estimated 18 million bamboo hectares.
The Report Lists the Key Players in the Global Bamboos Market:
- Bamboo Village Company Limited
- Kerala State Bamboo Corporation Ltd.
- Moso International B.V.
- Shanghai Tenbro Bamboo Textile Co. Ltd.
- Smith Fong Co Inc.
- EcoPlanet Bamboo
- Dasso Industrial Group Co., Ltd
- Jiangxi Shanyou Industry Co. Ltd.
- Jiangxi Kangda Bamboo Ware Group Co., Ltd.
- Higuera Hardwoods LLC
- China Bambro Textile Company Limited
- Southern Bamboo Inc.
- Teragren LLC
- ANJI TIANZHEN BAMBOO FLOORING CO. LTD
- Jiangxi Feiyu Industry Co. Ltd.