Bamboos Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report, 2025
“The global bamboos market size was accounted for USD 68.8 billion in 2018. It is projected to expand at 5.0% CAGR over the forecast duration, 2019 to 2025.”
The global bamboos market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: The global bamboos market size is estimated to touch USD 98.3 billion by 2025, as predicted by Million Insights in its new report. Further, the market is likely to exhibit the CAGR of 5% from 2019 to 2025. Increasing focus on sustainable infrastructural development and rising demand for furniture from the residential segment is attributing to the growth of the market. Bamboo and rattan are mostly cultivated without the use of fertilizers and chemicals. These plants do not need replanting and they grow rapidly. In addition, bamboo processing for different applications such as furniture, pulp and papers, and flooring has minimal adverse impact on the environment. Bamboos are known to absorb carbon and provide a superior alternative to traditional hardwood and plastics. Therefore, increasing awareness about environment protection is further boosting the market growth. Impact of COVID-19 The outbreak of COVID-19 has significantly affected the growth of the bamboos market. The coronavirus pandemic has resulted in the imposition of lockdown across several countries, thereby, disrupting the supply chain. In addition, the pandemic has slowed down the world economy, thus, consumer spending on furniture and other industrial products has significantly reduced. Further, there has been a rapid decline in the demand for construction activities amid a migration of labor due to COVID-19 in Asian and African countries. Thus, the outbreak of pandemics has adversely affected the market growth.