Global Bamboo Furniture Market: Overview
The global bamboo furniture market is set to see steady growth pace over the forecast period of 2019 to 2027. The decent trajectory that the CAGR for the market will chart is set to create great opportunities for the players and would also improve the market worth over the forecast period.
The said growth is primarily attributable to rise in infrastructural development worldwide, besides, the fact that bamboo is an environmentally friendly material adds to its popularity in a big way.
Global Bamboo Furniture Market: Competitive Landscape
The global bamboo furniture market is at the precipice of change. Numerous developments that are shaping the way this market would operate over the coming years. An in-depth dive in can be had in our upcoming report.
The global body firming creams market is fragmented and prominent players in the market include Jiangxi Feiyu Bamboo Industry Group Co. Ltd., Moso International B.V., Hadicomex VietHa Jsc, Ole Bamboo, Tanyee Company Ltd., Shenzhen Vincent Handicraft Co., Limited, CBG Bamboo, Greenington LLC, and others.
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The players – retailers as well as manufacturers – are directing their efforts at expanding operations joining hands with local and regional players. There are also players like Ikea that are looking at diversifying the raw material sourcing points. It recently included India as one of the sources for raw materials and wood types that are sustainable.
Global Bamboo Furniture Market: Key Trends and Drivers
Certain factors are shaping the growth curve for Global Bamboo Furniture Market. They are paving the way for how market would operate over the coming years. A glimpse is shared below.
- A rise in construction volumes is set to fuel growth in the global bamboo furniture market as it is used in interior designing as well furniture. And, construction volumes are set to see a massive increase over the coming years. By 2030, they would grow up to as much as 85%. And, this translates to a market worth of USD 15.5 trillion. And here again, three countries – India, China and the United States – will have the biggest chunk of growth. Together, they will account for 57% of the market share. And, considering that India and Central China and Southern United States of America are also growers of bamboo, they will contribute positively to market growth.
- Bamboo furniture market is seeing an upward growth trajectory because there is a rise in awareness levels related to environment and global warming. And, this is leading people to switch to green alternatives to a lot of things that are bought and bamboo fits the bill for interior decoration items and furniture pretty well. Bamboo is good at absorbing carbon dioxide – 40% more efficient than other alternatives and as a tree, it releases 36 % more oxygen. Besides, it is aesthetically, quite pleasing. Thus, as sustainable living becomes a major part of millennial lifestyles, the global bamboo furniture market would see a steady rise in its growth curve.
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Global Bamboo Furniture Market: Geographical Analysis
The region that will show tremendous growth over the forecast period will be Asia Pacific (APAC). It held this position even in 2018, holding the largest share of the market. This is largely attributable to an inclination towards home décor and furnishings. This in turn is a direct result of increasing disposable incomes, an obvious outcomes of the economies in the region doing extremely well.
Besides, these some of these regions are hotspots for bamboo such as the North-East region in India and even China.
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