Global Bamboo Furniture Market Size Is Predicted to Attain $20.261 Billion by 2030, Boosting at a Compound Annual Growth Rate (CAGR) of 6.65%

Louisville, KY, April 30, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Bamboo Furniture Market By End-User (Commercial And Residential), By Types (Beds, Chairs, Stools, And Others), By Distribution Channel (Offline And Online), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Bamboo Furniture Market size & share in terms of revenue was valued at USD 12.11 billion in 2022 and it is expected to surpass around USD 20.261 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.65% during the forecast period 2023 to 2030.”

What is Bamboo Furniture? How big is the Bamboo Furniture Industry?

Report Overview:

The global bamboo furniture market size was worth around USD 12.11 Billion in 2022 and is predicted to grow to around USD 20.261 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.65% between 2023 and 2030.

The bamboo furniture industry deals with the production and distribution of furniture products made out of bamboo which is woody grass. These products can be considered more sustainable and environmentally friendly alternatives to wood-based furniture. Bamboo is a perennial plant that has a high growth rate and belongs to the Poaceae family. As studies have indicated, it is one of the fastest-growing plants globally and can grow up to 91 cm in a day. It is most commonly found in Asia, Africa, Australia, and the American regions.

The bamboo furniture industry is gaining attention across the globe owing to the several benefits associated with bamboo furniture. Its attributes including higher durability, strength, and versatility are a leading cause of rising demand for bamboo furniture across residential and commercial settings. The fraternity comprises sales of products such as chairs, tables, beds, cabinets, shelves, and other home decor items.

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Global Bamboo Furniture Market: Growth Factors

The global bamboo furniture market is projected to grow owing to the increasing demand for eco-friendly furniture. Traditionally, home decor or furniture items for commercial units were made out of wood. However, since it is non-sustainable, manufacturers now produce items using metals and plastics. The drawback with these items is they are not environment-friendly. Bamboo-based furniture, on the contrary, is not only durable but does not cause any significant impact on the environment. With the growing awareness rate amongst the population, users are inclined toward eco-friendly products such as bamboo furniture.

In addition to this, growing disposable income in emerging economies, which is currently one of the largest consumers of these furniture items, is working in the favor of the global industry. The trend is driven by growing demand for luxurious versions of bamboo furniture. This is further strengthened by changing consumer preferences and lifestyles as more people are looking for cost-effective and functional products that can be accommodated in smaller housing in urban cities.

The global bamboo furniture industry deals with a major drawback which is generally in terms of a limited supply of bamboo since it grows naturally and has to be cultivated for more supply. This tends to have a direct impact on supply changes thus resulting in price variations. Moreover, even though bamboo products have shown tremendous results, a large part of the population perceived bamboo products as lower-quality products. Industry players have to adopt strategic techniques to change the perception amongst potential consumers. Additionally, factors such as high transportation costs and competition from other materials could lead to lower revenue.

The growing strategic partnerships could provide growth opportunities while controlling quality may pose a major challenge for industry players

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Report Scope

Bamboo Furniture Market: Segmentation Analysis

The global bamboo furniture market is segmented based on end-user, types, distribution channel, and region.

Based on end-user, the global market segments are commercial and residential.

Based on types, the global bamboo furniture market segments are beds, chairs, stools, and others. In 2022, the highest CAGR was registered in the chairs segment since even though the demand for the rest of the items is high, one of the most common uses of bamboo is producing chairs. These pieces of furniture are not only eco-friendly but also lightweight and sturdy. They provide a natural look to the setting in which they are placed. Since bamboo trees are highly flexible, it is used extensively to produce chairs that are regularly subjected to heavy weight. However, the industry players are investing resources in designing superior-grade stools and beds to attract more consumers. As per estimated calculations, around 3 to 4 meters of bamboo would be needed to produce one chair.

Based on distribution channel, the global market divisions are offline and online. The former was the largest and most preferred choice of distribution since most of the bamboo furniture is purchased offline. Consumers prefer to touch and feel the product before buying it, especially in the home decor segment. Every consumer may have different requirements in terms of the size, design, and dimension of the furniture. Hence they generally tend to visit the selling or producing shops before final purchase. However, the online segment is growing at a rapid rate as many online companies are emerging while providing consumers with a seamless buying experience. A recent Statista report concluded that more than 44% of surveyed people preferred purchasing home decor items offline while 36% comprised an equal mix.

The global Bamboo Furniture market is segmented as follows:

By End-User

• Commercial
• Residential

By Types

• Beds
• Chairs
• Stools
• Others

By Distribution Channel

• Offline
• Online

Browse the full “Bamboo Furniture Market By End-User (Commercial and Residential), By Types (Beds, Chairs, Stools, and Others), By Distribution Channel (Offline and Online), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030”- Report at https://www.zionmarketresearch.com/report/bamboo-furniture-market

Competitive Landscape

Some of the main competitors dominating the global Bamboo Furniture market include - 

• Tengwu Bamboo and Wood Products Factory
• Anji Mountain Bamboo Chairmat & Rug Co.
• Bamboosero Inc.
• Bamboo Revolution
• Dasso Industrial Group Co. Ltd.
• Greenington Fine Bamboo Furniture
• Bamboo Village Company Limited
• Bambuhome
• Wuhan Kexin Commercial Equipment Manufacture Co. Ltd.
• Eco Bamboo Africa
• Bamboo Valley Company
• Ha Thai Bamboo Furniture
• Kalinga Bamboo International Foundation
• Bamax
• Xiamen Ebei Import & Export Co. Ltd.
• MOSO International BV
• Linhai Jinhai Bamboo Products Co. Ltd.
• Tre Lang Living Bamboo Co. Ltd
• Viet Products Corp.
• Bamboo Habitat
• Smith & Fong Co.
• Bambootique Design Studio
• Eco Bamboo Home
• Bamboo Living
• Foshan Johnson & Wales Furniture Co. Ltd.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Bamboo Furniture market is likely to expand at a CAGR of around 6.651% during the forecast period (2023-2030).                  
• In terms of revenue, the Bamboo Furniture market size was valued at around US$ 12.11 billion in 2022 and is projected to reach US$ 20.261 billion by 2030.
• The bamboo furniture market is projected to grow at a significant rate due to the growing application in the commercial sector.
• Based on distribution channel segmentation, offline was predicted to show maximum market share in the year 2022.
• Based on end-user segmentation, residential was the leading user in 2022.
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Bamboo Furniture industry?
• What are the main driving factors propelling the Bamboo Furniture Market forward?
• What are the leading companies in the Bamboo Furniture Industry?
• What segments does the Bamboo Furniture Market cover?
• How can I receive a free copy of the Bamboo Furniture Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By End-User, By Types, By Distribution Channel, And By Region.
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global bamboo furniture market is expected to witness the highest growth in Asia-Pacific since China, India, Indonesia, and Vietnam are some of the largest producers of the plant. These regions already have a dedicated consumer database since bamboo has been traditionally used for manufacturing furniture for many years. Furthermore, the growing initiative by the regional government to promote further production of bamboo and associated products could lead to more revenue in the regional industry.

The European market is projected to hold a significant share of the global market as the demand for naturally derived furniture in residential and commercial spaces is on the rise. Furthermore, the European nations are working toward reducing their dependence on wood for home decor products which could lead to more consumption of bamboo. In North America, the industry is expected to grow due to a rising inclination toward eco-friendly products.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In August 2022, the Lieutenant governor (LG) of Delhi, India’s capital city, inaugurated the foundation of building a bamboo theme park in the city as a part of the rejuvenation project for the Yamuna River. This could result in more public awareness about the plant and its benefits
• In May 2021, The NEWS Minute reported about Irukkai, an Indian startup, launched its business that connects bamboo furniture owners with local artisans for repair and other purposes

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/bamboo-furniture-market

FREQUENTLY ASKED QUESTIONS

• What is bamboo furniture?
• Which key factors will influence the bamboo furniture market growth over 2023-2030?
• What will be the value of the bamboo furniture market during 2023-2030?
• What will be the CAGR value of the bamboo furniture market during 2023-2030?
• Which region will contribute notably towards the bamboo furniture market value?
• Which are the major players leveraging the bamboo furniture market growth?

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