Bamboo Fiber Market Demand Review, Trend Analysis, Size, Revenue, Key Competitors and Analysis by 2030
The global bamboo fiber market is poised to experience incredible growth in the next few years owing to the promising emergence of startups specializing in the production of bamboo-based consumables, shares Fortune Business Insights™ in its report, titled “Bamboo Fiber Market Size, Share & Industry Analysis, By Type (Bamboo Rayon, Natural Bamboo Fiber), By Application (Clothing Fabrics, Home Furnishing, Medical Care Supplies, Others (Bathroom Textiles, and Others)) and Regional Forecast, 2023-2030”. In response to the apprehensions surrounding the excessive consumption of chemically-derived fibers and materials, several start-ups are coming up around the globe to tackle this problem by creating products from sustainable materials such as bamboo fibers. For example, China-based Eco HY specializes in the production of biodegradable dinnerware offerings made from bamboo fibers. In India, a Mumbai-based start-up called Beco has been utilizing bamboo pulp and cornstarch polymers to create daily-used items such as kitchen towels and trash bags. In the US, a Los Angeles-based startup by the name of Ettitude is engineering sustainable sleepwear and bedding items from bamboo fibers and the company raised USD 1.6 million in financing in May 2020. The proliferation of such startups is expected to greatly enhance the potential of this market in the foreseeable future.
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Imminent Ban on Plastic Usage in Several Countries to Expand Market Prospects
One of the chief factors expected to drive the bamboo fiber market growth in the next decade are the impending bans on the use of plastic items planned by several countries worldwide. For example, Canada announced its ambition to ban single-use plastics by 2021 through various enforcement mechanisms. In March 2019, the European Union (EU) resolved to ban the top 10 most widely used single-use plastic items found on European beaches by 2021. Similarly, India declared in 2018 that the country will eliminate all single-use plastic by 2022. Bamboo fiber-based products are expected to replace the plastic items that these countries are planning to ban in the upcoming years. Products made from bamboo fibers, especially those consumed on a daily basis in regular households, are not only durable and sturdy but are also biodegradable, easily recyclable, cost-effective to manufacture, causing almost no pollution. Thus, ceasing plastic usage will surge the demand for bamboo and other natural fibers, especially in countries such as India and China.
Increasing Cultivation of Bamboo to Propel the Market in Asia Pacific
Asia Pacific is set to dictate the bamboo fiber market share in the upcoming years owing to the widespread cultivation of bamboo in China and India. This factor is further bolstered by the fact that the climatic conditions of the two countries, especially China’s, favour the growth bamboo. Moreover, supportive government policies stoking the adoption of natural fibers will also contribute to the regional market growth.
In North America and Europe, rising emphasis on sustainable lifestyles is pushing consumers towards demanding eco-friendly daily items such as bathroom textiles and footwear. Apart from this, quick uptake of advanced textile manufacturing technologies tuned to leverage the benefits of natural fibers is fostering excellent growth prospects for the global market.
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Development of Innovative Offerings by Key Players to Animate Competition
The broad scope for innovation offered by this market is fuelling the competitive spirits of the key players in this market. This is especially true for novice companies as they look to cement their position in this burgeoning market.
- April 2020: EcoBuddy, bamboo start-up based in Pune, India, bagged 600 orders in a month. The company offers everyday goods made from bamboo fibers such as toothbrushes and shopping bags and aims at bringing sustainability in waste management in the city.
- January 2020: Bamboozle announced plans to launch a range of novel sustainable food storage and kitchenware items at the ‘Inspired Home Show’ held in Chicago. For example, the Astrik Dry Food Storage set has been produced from ground bamboo and renewable natural starches, giving the product a long operating life.
List of Key Players Covered in the Bamboo Fiber Market Report:
- TIC Gums
- Xiamen Ebei Import & Export Co., Ltd.
- Towel Industrial Co. Ltd
- Shanghai Tenbro Bamboo Textile
- Wild Fibres
- China Thrive Industrial Co., Ltd.
- Advantage Fibers
- Bambro Textile Co.
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