Bamboo is a versatile multi-purpose forest produce that plays a vital role in domestic and industrial economies. Various industrial applications of bamboos include food production, wood substitute, pulp and paper, handicrafts, medicinal products, cottage industries, and charcoal production. Bamboo is one of the highly renewable resources in the socio-economic and ecological-climatic-functional context with more than 1,500 recorded uses.
Bamboo has major applications in paper & pulp industry as raw material for the manufacturing of paper and paperboard. Growing demand of paper and paperboard globally is expected to drive growth of the global bamboo industry over the forecast period. According to the PG Paper, global paper and paperboard demand was registered at US$ 390 million tons in 2015, which is expected to increase to 490 million tons by 2020.
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Bamboo shoots are extensively used in foods, owing to its numerous health benefits such as low calorie and richness in potassium, copper, and iron. Growing health consciousness among population have positively increased the adoption of high nutrients and low calorie food since recent past, which is expected to drive the bamboo market growth over the forecast period. For instance, according to India Brand Equity Foundation (IBEF), organic food market in India was registered at US$ 160 million, which is expected to grow by CAGR of 25% during 2015-20.
Asia Pacific is expected to dominate the global bamboo market, owing to significant consumption of bamboo in paper & pulp industry along with construction industry. Growing construction industry coupled with rising disposable income is also fueling growth of the market. For instance, according to Central Pulp & Paper Research Institute- India, paper & pulp consumption in India was registered at 17.99 million tons in 2014-15 which grew to 18.48 million tons in 2015-16.
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Key players in the Global Bamboos Market:-
Key players operating in the global bamboos market include Dasso Industrial Group Co. Ltd., EcoTimber Inc., EcoPlanet Group LLC, Eldorado Bambu, Xingli Bamboo Products Company, Moso International BV, GRASSuilt LLC, Bamboo Australia Pty Ltd, Jiangxi Kangda Bamboo Ware Group Co. Ltd., and Yokoyama Bamboo Products Co. Ltd.
Major companies are adopting organic and inorganic growth strategies, in order to expand their business internationally. For instance, in 2017, Netherlands based MOSO International launched its subsidiary MOSO North America Inc. to grow its business in North American countries.
On the basis of application, the global bamboos market is segmented into:
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