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The global bamboo market was valued at USD 72,102.4million in 2019 and is expected to have a compound annual growth rate of 5.5% from 2020 to 2026.
Global Bamboo Market Report 2020
The global bamboo market was valued at USD 72, 102. 4million in 2019 and is expected to have a compound annual growth rate of 5.5% from 2020 to 2026.
Bamboo contains around 35 percent more oxygen and consumes 40 percent more carbon dioxide compared to trees. Increasing infrastructures of the total bamboo industry, and raise more consumer awareness may boost the market further in the forecasted period.
What are the growth factors that contributed to the market numbers? Two mains are bamboo fiber and increasing investment in clothing and furnishing.
Global bamboo market segmented shares are taken largely by bamboo furniture, followed by the construction segment, attributed to quality furniture across the globe.
China is the largest producer of bamboo across the globe followed by India with a significant growth rate during the estimated period. In terms of volume, Asia Pacific is dominating the market, but in terms of value, North America and Europe are anticipated to account for a higher share.
Key industry players, and full report link: