Asia-Pacific to Account for 70%+ of Bamboo Market Value by 2027

Future Market Insights, Valley Cottage, N.Y., USA, projects that toward the end of 2027, more than 63,000 metric kilotons of bamboos will be sold across the globe, bringing in revenues worth more than $10 billion.

According to the recently-published Future Market Insights report, Bamboos Market: APAC Projected to be the Most Attractive Regional Market During the Forecast Period—Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027, the global bamboos market is expected to be valued at $3.6 billion by the end of 2017. During the forecast period 2017-2027, the global bamboos market is projected to soar at a CAGR of 10.6%. In terms of volume, the market is slated to record global sales of more than 24,000 metric kilotons by the end of 2017, and will reflect a 10.1% CAGR during the assessment period.

A sample of the report with table of contents and figures can be requested online.

China and India are expected to continue their dominance in the global bamboos market through 2027. These Asia-Pacific countries will continue to account for about 50% resources of bamboos and their species in the world. Consequently, Asia-Pacific is expected to be the largest bamboos market in the world, both in terms of value as well as volume. During the forecast period, the Asia-Pacific bamboos market will reflect speedy growth at 11.8% CAGR. By the end of 2027, nearly three-fourth of global bamboo revenues will be accounted by the region.

Due to their abundance and versatility, bamboos and bamboo-based products are used for a wide range of indoor and outdoor applications. Being a highly renewable resources in every context, bamboos have more than 1,500 recorded uses. Pulp and paper, food production, wood substitute, handicrafts, cottage industries, medicinal products, and charcoal production are some prominent applications of bamboos that have influenced the market's rampant growth.

The lightness, durability, and tensile strength of bamboos have made them an excellent industrial raw material. Some companies today are even manufacturing low-cost bicycles out of bamboos. However, expensive labor force in harvesting and procurement of bamboo is expected to restrain the market's growth. Seasonal employment in primary processing of bamboos is also refraining manufacturers from capacity expansion. However, the basic application of bamboos—production of pulp and paper—continues to drive the global bamboo sales rapidly. By 2027, close to 48% of the global bamboo market value will be in the global pulp and paper industry.