The global bamboo market size was valued at $61.52 billion in 2022 and is expected to reach more than $105.22 billion by 2032, according to Tantech Holdings.

At that rate, the market would grow at a compound annual rate of about 5% during the period from 2023 to 2032.

There are about 39 bamboo genera and more than 857 species in China with more than 7.01 million hectares of pure bamboo forest, accounting for one-third of the world’s bamboo area in 2022.

China leads the global bamboo industry in number of varieties, amount of bamboo reserves, as well as production, said Zehui Jiang, co-chairman of the board of directors of the International Network for Bamboo and Rattan (INBAR).

Bamboo is considered environmentally friendly because it absorbs substantial amounts of carbon dioxide and gives off oxygen as it grows.

In fact, bamboo sequesters more carbon dioxide than an equivalent region of tree plantations.

In addition, harvesting bamboo is considered more environmentally friendly than allowing it to live its entire life cycle, as this harvesting maximizes the amount of carbon dioxide that bamboo can sequester due to the effects of fungi.

Global bamboo market

The total value of China’s bamboo industry was approximately 380 billion yuan in 2021.

In 2021, it employs more than 15 million people and has become a pillar industry of the development of the economic society of China’s main bamboo-producing area and the main source of income for farming families.

Environment

Given the importance of bamboo in China, Tantec believes that favorable government policies and regulations encouraging the advancement of bamboo technology in China in general will create a favorable environment for its increased production of bamboo-based charcoal products.

The Chinese government is also working to develop its bamboo industry to meet its goals of environmental protection and green economic development, as planting bamboo is cost-effective and environmentally friendly.