The global bamboo market size is expected to reach USD 82.90 billion by 2028. It is expected to expand at a CAGR of 5.7% from 2021 to 2028. A broader scope of application of bamboo in domestic as well as commercial applications, such as furniture, fabric, food, biofuel, pulp and paper, charcoal, and cloth, is expected to pose high growth potential for the market.

The Asia Pacific accounted for almost 80% of the global bamboo product trade in 2020 owing to the high influence from China, which accounted for almost 71% of the world's export of bamboo products. North America, Central, and South America, and Europe have also emerged as the significant traders of bamboo products in recent years owing to the presence of indigenous bamboo species in Brazil, Mexico, Ecuador, Chile, and the Dominican Republic.

Bamboo is an inexhaustible category of grass that can be cut 5 fold faster than trees and also absorbs 30% more carbon dioxide when compared with wood. Thus, the emergence of sustainability trends, especially increasing focus on environmentally neutral building materials, is expected to drive the market for bamboos over the forecast period.

Bamboos Market Report Highlights

• The industrial products application segment accounted for the largest revenue share of over 35.0% in 2020 owing to the broad range of applications in modern-day food and biobased industries, such as dietary fiber food additives

• The shoots application segment emerged as the second-largest segment in 2020 as bamboo shoots are considered an important health food as they contain amino acids, high proteins, vitamin A, vitamin B6, vitamin E, niacin, and thiamine

• The furniture application segment is expected to register a CAGR of 5.0% over the forecast period owing to the emerging trend of sustainable interior designs in the environmentally neutral or green buildings

• The Asia Pacific dominated the market with a revenue share of over 75.0% in 2020 owing to the highly concentrated production of bamboo in Asia Pacific economies, especially China

• Industry participants are expanding the domestic production of bamboo in Non-Asia Pacific economies to cater to the domestic demand and reduce reliance on imports from China or other high production economies