The global bamboos market size is estimated to touch USD 98.3 billion by 2025. 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.
Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures, Chart and Covid-19 Impact Analysis) : https://www.millioninsights.com/industry-reports/global-bamboos-market/request-sample
Key Questions Answered in this report :-
• What are the sales or revenue produced by Bamboos products beyond all sectors during the forecast period?
• What are the key trends in the Bamboos market?
• What are the leading drivers, limitations, and probabilities in the industry?
• Which segment will gain the highest revenue worldwide and which product segment will expand at the fastest CAGR during the forecast period?
• In which region the Bamboos market to project lucrative CAGR during the forecast period?
Governments in Asia Pacific and African nations are increasingly supporting the bamboos and rattan cultivation as they provide a livelihood to a large number of socially and economically backward people. For example, some African countries such as Kenya, Uganda and Ethiopia partnered with China to eradicate poverty by supplementing bamboos production.
Further key findings from the report suggest:
• The growing popularity of bamboos cultivation is attributed to the various benefits such as sustainable production, cost-effectiveness and their medicinal values.
• Government in Asian and African countries are imposing favorable regulation, which, in turn, driving the demand for the bamboos market.
• Growing application of bamboos in various applications such as plywood, pulp, plywood and paper is driving its demand.
• In 2018, Asia Pacific accounted for more than 60% of the share in the market. Further, the region is estimated to witness the highest CAGR over the forecast duration.
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 have 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 pandemic has adversely affected the market growth.
Global Bamboos Market: Key Players
Shanghai Tenbro Bamboo Textile Co. Ltd, Moso International B.V, EcoPlanet Bambooand Feiyu Industry Co. Ltd
Know More Insights @ https://newsonmarketblog.wordpress.com
No comments:
Post a Comment