Bamboo Furniture Market Size Worth $24,839.12 Million by 2032: The Brainy Insights

Newark, April 17, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global bamboo furniture market is projected to grow from USD 13,207.62 million in 2022 to USD 24,839.12 million By 2032, at a CAGR of 6.52% during the forecast period 2023-2032.

Bamboo furniture includes beds, chairs, stools, tables, cabinets, accent pieces such as mirror frames and wallpaper, headboards, dressers and others. Bamboo furniture has a stunning and pleasing impression. In addition, bamboo furniture offers a solid adorning appearance, displays a textured area, and has a light and visual insight. Standard classes of bamboo utilised in furniture items comprise faux bamboo (artificial), bamboo strips, and laminated bamboo. Bamboo furniture items are better water-resistant and long-lasting than hardwood. Bamboo furniture can help to protect the eyesight and health of humans by absorbing UV rays. Moreover, the organic nature of raw bamboo materials makes them eco-friendly.

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Report Coverage Details

The rising residential applications boost the global bamboo furniture market's growth. The growing investment in infrastructure expansion is another major factor fueling the demand for the bamboo furniture market. Furthermore, the increasing preference of consumers for sophisticated natural interiors is driving the market need for bamboo furniture. The growing popularity of eco-friendly products is also driving demand in this market. In addition, the increasing use of bamboo products in offices, restaurants and other commercial establishments is creating a significant rise in the opportunities for the bamboo furniture market. Nevertheless, a damp environment can damage bamboo furniture, restricting the market's demand.

Competitive Strategy

To boost their market situation in the global bamboo furniture market, the prominent industry players aim to take the approaches such as mergers & acquisitions, collaborations, partnerships, joint ventures, product innovations, and recent developments.

• IKEA has collaborated with bamboo farms in Bangalore, India and hopes to reach out to at least a dozen suppliers, mainly from northeastern states. The company is in talks with some state governments to encourage the cultivation and supply of bamboo. IKEA accounts for nearly 1% of global wood consumption for commercial products, making it one of the most significant users of wood as raw material in retail. IKEA opened its first Indian store in Hyderabad. It aims to open 25 more stores in India by 2025. Each of these will be big enough to hold about four football grounds.

• Century Furniture Company acquired the Curate Home Collection, Inc. in February 2019. The acquisition will help Century Furniture to strengthen its products and brands in the home furnishing market. Combining the Curate Home Collection's line into its line of products allows Century Furniture to expand its product portfolio offering to offer better products.

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Market Growth & Trends

The bamboo furniture market is mainly growing by the increasing use of bamboo furniture in residential applications. In addition to providing an aesthetic appeal to interior décor, bamboo is achieving wide approval as an alternative to wood owing to its durability, ease of availability, mechanical strength, and eco-friendly nature. Growing environmental understanding among wood processing companies is expected to lead to the acceptance of bamboo as a feasible raw material. In addition to residential units, bamboo furniture is utilised in commercial establishments such as recreational areas, restaurants, and offices. Nowadays, manufacturers focus on producing ecological furniture using bamboo as the primary raw material. The growing consumer acceptance of natural and luxury interiors are expected to boost the need for woven and crocheted style product, thus fueling the demand for the bamboo furniture market. Bamboo is making a comeback in the market with a modern style and is used for flooring, furniture, wallpaper, and even kitchen & bathroom accessories. The material has achieved great appeal in commercial and residential areas for its feasibility and lightweight, facilitating transportation.

Key Findings

• In 2022, the stools segment accounted for the largest market share, with 46.81% and a market revenue of USD 6,182.48 million.

The type segment is classified into beds, chairs & tables, cabinets, stools, dressers and others. In 2022, the stools segment accounted for the largest market share, with 46.81% and a market revenue of USD 6,182.48 million.

• In 2022, the indoor segment dominated the market with the largest share of 71.53% and a market revenue of USD 9,447.41 million.

The category segment includes indoor and outdoor. In 2022, the indoor segment dominated the market with the largest share of 71.53% and a market revenue of USD 9,447.41 million.

• In 2022, the residential segment led the market with the largest share of 72.36% and market revenue of USD 9,557.03 million.

The end user section is divided into residential and commercial. In 2022, the residential segment led the market with the largest share of 72.36% and market revenue of USD 9,557.03 million.

• In 2022, the specialty stores segment registered the largest market share of 61.48% and a market revenue of USD 8,120.04 million.

The distribution channel segment consists of online retail, specialty stores and others. In 2022, the specialty stores segment dominated the market with the largest share of 61.48% and a market revenue of USD 8,120.04 million.

Regional Segment Analysis of the Bamboo Furniture Market

• North America (U.S., Mexico, Canada)
• Europe (Germany, Italy, France, Spain, U.K., Rest of Europe)
• Asia-Pacific (India, China, Japan, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

The Asia-Pacific region registered the largest market share, with 60.21% revenue in 2022 and a market revenue of USD 7,952.30 million. The Asia Pacific region held the largest market with over 60% revenue share in 2022 and is expected to maintain its superiority over the forecast period. Increasing disposable income, particularly among the middle class, rising adoption of modern style furniture, and the growing understanding of bamboo as a sustainable and environmental-friendly raw material are significant factors behind Asia Pacific's supremacy in the global bamboo furniture market. Besides, India, Myanmar, Thailand and China are the world's biggest growers of raw bamboo material.

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Key Players Operating in the Global Bamboo Furniture Market are:

• Cane O Cane
• CBG Bamboo Garden Products Co., Ltd.
• Dasso
• Eco Bamboo and Wood
• Greenington
• GEK Guan Rattan Furniture (M) SDN BHD
• Huayu
• Hanssem Co. Ltd.
• Howdens Joinery Ltd.
• Hadicomex VietHa Jsc
• Interwood
• Itatiaia
• IKEA
• Jiangxi Feiyu
• July Bambu Co., Ltd.
• Jiangxi Shanyou
• Kang Ti Long
• Lixil
• Luit Nirman
• Moso Bamboo
• Ole Bamboo
• Reforest Design
• Sinohcon
• S. Senniah Gowder
• Shenzhen Vincent Handicraft Co., Ltd.
• Tengda
• Tianzhen
• Tanyee Company Ltd.
• Utsav Handicraft
• Yoyu
• Zhejiang Tianzhen Bamboo and Wood Development Co., Ltd.

This study forecasts global, regional, and country revenue from 2019 to 2032. The Brainy Insights has segmented the global bamboo furniture market based on the below-mentioned segments:

Global Bamboo Furniture Market by type:

• Beds
• Chairs & Tables
• Cabinets
• Stools
• Dressers
• Others

Global Bamboo Furniture Market by Category:

• Indoor
• Outdoor

Global Bamboo Furniture Market by End User:

• Residential
• Commercial

Global Bamboo Furniture Market by Distribution Channel:

• Online Retail
• Specialty Stores
• Others

About the report:

The global bamboo furniture market is analyzed based on value (USD Million), Volume (K Units). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes opportunities, challenges, driving factors, and restraints for gaining critical insight into the market. The study includes porter's five forces model, raw material analysis, supply and demand analysis, distribution analysis, competitor position grid analysis, attractiveness analysis, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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