Reviewing Bamboo market on “World Bamboo Day 2020”

Today is the “World Bamboo Day”. It is a day to celebrate and to increase awareness about bamboo globally. Utilization of bamboo has not always been sustainable due to exploitation. World Bamboo Day was officially established on September 18 at the 8th World Bamboo Congress held in Bangkok in year 2009. The Thai Royal Forest Department then declared that people and businesses from around the world shall use this day to raise awareness of the benefits of bamboo and to promote its use in everyday products. Every Year on this day, the celebrations include bamboo planting ceremonies, races, various contests etc. around the globe. 

Bamboo is quite important for the Feng shui experts as well and they believe that placing bamboo in the home enhances the chances of good luck & wellbeing. According to them this is year of the Rat therefore they are of the opinion that bamboo designs or decorations in a home are extremely healing and lucky. Feng shui experts also believe that Bamboo plants have the power to ward off negativity by attracting positivity from the surroundings and emitting tranquility and peace. They also feel that the bamboo plants eliminate the bad energies from the surroundings and make the environment more pleasant and harmonious.  

Speaking on India’s context, India is the second richest country in bamboo production, after China. These two countries together have more than 50% the total bamboo resources globally. Approximately 148 species in 29 genera of bamboos,(both wild and cultivated) are currently estimated to exist in India. Most of the species are found in the deciduous and semi evergreen regions of North-east and the tropical moist deciduous forests of North and South India. The North-eastern hilly States of India supply nearly 90 species of bamboos. In Lachen town of Sikkim, the authorities have even introduced bamboo water bottles to control plastic waste.  

The bamboo products market is expected to grow at a steady rate during the period 2020-2026 as per analysis reports. The domestic bamboo products market is mainly driven by their growing popularity as an alternative to traditional timber (Considering their numerous benefits and cost effectiveness). The Market Segmentation in India is based on species, application, end user industry & region. Based on species, market can be categorized into Bambusa Tulda, Bambusa Bambos, Dendrocalamus Strictus. Because of wider use in construction industry and for making furniture, mats, handicrafts, etc. the Bambusa Tulda species is expected to register maximum growth in the domestic market.  

Based on end user industry, the bamboo market can be segmented into wood and furniture, construction, paper and pulp, textile, medical, agriculture and so on. Due to favorable government excise policy, rising government spending on education and increasing activities in print media, FMCG and pharmaceutical sectors, paper and pulp industry is expected to dominate the Indian market. Pioneers in this field are Kerala State Bamboo Corporation Ltd, Epitome Bamboowood Products, Ballarpur Industries Limited (BILT), Amlai Paper Mill, Green Gold Bamboo Tech Pvt. Ltd., Kolan India, Green Gold Bamboo Tech Pvt. Ltd., etc. 

The Asia Pacific bamboos market had accounted for over 60% of the revenue share in year 2018 and experts have projected the market in this region to show rapid growth in next 5-6 years. In present era several government policies focus on promoting bamboo cultivation to drive sustainable income for farmers. In December 2017, the Indian Parliament passed a bill to declassify bamboo as a tree, thereby creating lucrative growth opportunities for mid- & small-scale manufacturers to produce processed bamboo products. These government policies are expected to provide new avenues for market growth. Similarly there are projections of Middle East & African markets expand by year 2026 because of increasing government initiatives for maximizing the production of bamboos, which in turn generates employment for people. In African nations, bamboos are widely used by the local communities for establishing constructions & granaries. The rural Africans also use bamboos extensively as raw material in manufacturing handicrafts, woven products, and baskets.