VALLEY COTTAGE, New York, July 17, 2017 /PRNewswire/ --
Through innovative technologies, specific species of bamboos have gained applicability in production of beverages, which include popular drinks such as beers and teas. In Latin America, demand for bamboos is rising on the account of such breakthrough applications. Bamboos are no longer restrained to the image of being key resources and raw materials in paper-making and construction & building industry. Cultivation of bamboos is easy and quite profitable, grabbing the interests of agriculturists and farmers. Surplus availability of bamboos is promoting their use in such novel applications. Future Market Insights projects that towards the end of 2027, over 63,000 KT of bamboos will be sold across the globe, bringing in revenues worth over US$ 10 Bn.
According to the recently-published report, global market for bamboos is expected to be valued at US$ 3.6 Bn by the end of 2017. During the forecast period 2017-2027, the global bamboos market is projected to soar at a value CAGR of 10.6%. In terms of volume, the market is slated to record global sales of more than 24,000 KT by the end of 2017, and will reflect a 10.1% CAGR over the assessment period.
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Contribution of Asia-Pacific to Global Bamboo Market
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. Over 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.
New Applications of Bamboos = Unbounded Growth Opportunities
Owing to their abundance and versatility, bamboos and bamboo-based products are used for a wide range of indoor & outdoor applications. Being a highly renewable resources in every context, bamboos have more than 1,500 recorded uses. Food production, pulp and paper, 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 are focusing towards manufacturing low-cost bicycles out of bamboos. However, expensive labour force in harvesting & procurement of bamboo is slated to restrain the market's growth. Seasonal employment in primary processing of bamboos is also refraining manufacturers from capacity expansion. The basic application of bamboos - production of paper and pulp, however, continues to drive the global bamboo sales rapidly. By 2027, close to 48% of global bamboo market value will be accounted by end-use of bamboos in paper & pulp industry.
Preview Analysis on Global Bamboos Market Segmentation By End-Use Industry - Wood and Furniture(Timber Substitute, Plywood, Mat Boards, Flooring, Furniture, Outdoor Decking), Construction(Scaffolding, Housing, Roads); Food (Bamboo Shoots), Pulp & Paper, Textile, Agriculture, Others (Charcoal & Handicrafts): http://www.futuremarketinsights.com/reports/bamboos-market
Majority of key players in the global bamboo market are based in Asia-Pacific region. These include companies such as Bamboo Village Company Limited, Kerala State Bamboo Corporation Ltd, Jiangxi Feiyu Industry Co. Ltd., ANJI TIANZHEN BAMBOO FLOORING CO. LTD, Dasso Industrial Group Co., Ltd, Xingli Bamboo Products Company, China Bambro Textile Company Limited, Bamboo Bio Composites Sdn Bhd, Fujian Jianou Huayu Bamboo Industry Co., Ltd., Jiangxi Shanyou Industry Co. Ltd., Tengda Bamboo-Wood Co., Ltd., and Jiangxi Kangda Bamboo Ware Group Co., Ltd. Other prominent market participants include Teragren LLC, Moso International B.V., Bamboo Australia Pty Ltd., EcoPlanet Bamboo, Smith & Fong Co Inc., Southern Bamboo Inc., and Higuera Hardwoods LLC.
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SOURCE Future Market Insights